Do you want to buy 925 silver jewelry and realized that 925 silver price per gram cost quoted is different at different jewelers. There are some factors which do have a role to play, when it comes to cost of silver and gold.
925 silver is also known as sterling silver, which contains 92.5% by weight of silver and 7.5% by weight of other metals, often copper. The minimal fineness in sterling silver has to be 925, for it to be of standard quality. Since fine silver or pure silver (99.9% pure) is often very soft for producing functional objects, copper or other metals have to be alloyed with it, to give it strength and at the same time, also preserve the ductility and beauty of the precious metal. Other metals like germanium, zinc, platinum, silicon, boron, etc. are also used to make alloy with silver, in place of copper.
Since, silver has been alloyed with other metals, over the years, most of the countries around the world have developed system to hallmark silver. Hallmark indicates the purity of the silver alloy used to manufacture or handcraft a certain piece of jewelry. It sometimes can also identify the silversmith or company, that manufactured the piece. At the same time, it can also be used to mark the date and/or location of the manufacture. However, sometimes, the hallmark is used to indicate purity. 925 silver or sterling silver is also a hallmark, which is used. Because silver alloy is made, it sometimes can be difficult to judge the price.
What is 925 Silver Price Per Gram
When one talks about 925 sterling silver or 925 silver, regardless of the country of origin, it is 92.5% pure silver. Hence, it is marked as 925 or it can also be marked as SS. Whatever gold or silver is sold in the market, it is marked to indicate its precious metal content.
Silver is often seen as an excellent way to store one’s assets. It is a steady metal and the current price of sterling silver per ounce is on a gradual rise, due to increasing demand for silver, both for jewelry making, as well as for industrial purposes. There is another reason for the rise in silver value. It is lack of mining. Most of the silver obtained today, is obtained as a by-product of mining other precious, as well as non precious metals, such as gold, platinum, aluminum, etc. Hence, it is unlikely, that silver will be available in plenty in the silver markets around the world. And therefore, the sterling silver price per gram as well as price of pure silver per gram will always be on the rise.
When the price per gram is determined, the price is dependent on the current market price of silver. The price of silver and other precious metals fluctuate everyday, depending on demand and supply of the metals. Not only do the prices fluctuate everyday, but at different times of the day, the price can also be different. Apart from the raw material cost required to procure silver, there are other factors, which also have a role to play in determining the 925 silver price per gram.
The factors, which have a role to play include:
- Labor Cost: To convert silver into a finished product, as we see it in the market, does require a lot of processing. When sterling silver jewelry is made, it requires a high level of craftsmanship, which also increases the cost.
- Other Materials Used: All the other materials used to make the ornaments also add up to the cost of the ornament. For example, if different polishes are used on the item, or precious stones are embedded, then it is natural that the cost will go up.
- Transportation Cost: A lot of jewelry is imported from number of countries around the world. Often, there is about 10% rise in the cost of 925 silver jewelry price, due to shipping costs.
- Custom Duties: Along with the shipping cost, there are the custom duties, which also have to be paid. This price is not really visible to the customer, but it leads to increase in price by 5 to 10%.
It is important to note that the silver dollar coin value is higher because of it purity. If you are purchasing sterling silver from a retailer, there are chances that the 925 silver price per gram will be same as that it was about a week or even a month ago, because there are chances that the retailer had bought the item, some time ago. From the above article, it is clear that the silver price is not stable for a consistent period of time and has a number of factors, which have a role to play in its fluctuation.