Know How Silver Gets Valued Before You Sell
The value of your item fluctuates when the item is either gold or silver. The reason this fluctuation occurs is because 75% of the silver that gets mined comes from copper or lead mineralization, and the remaining 25% comes from silver ores.
Considering this fluctuation, a jewelry store will always make you an offer based on:
- Percentage of silver
- Currency fluctuations
- Market speculation
- Supply and demand
Besides the aforementioned four factors, fineness also contributes a lot. While gold is measured in Karats, silver is measured by its fineness or purity.
Since silver is prepared in two ways, the ore extraction method and the mineralization of copper and lead, certain assigned numbers such as 800, 925, 958, or 999 decide the fineness or purity of the silver. 999 means your piece is 99.9% silver. Anything less than 99.9% means it is an alloy.
The greater the fineness number of silver, the higher the purity level. Purity levels are measured by the amalgamation of other elements. Greater number means fewer elements.
Moreover, silver is not only used in ornaments, but it is also an excellent electricity conductor, battery element, and the best reflector of visible light.
Knowing the Amount of Silver Your Jewelry Have?
Measuring the weight of your silver is not difficult. If you have a bullion, the weight should be stated on the certificate or the piece. If you have silver jewelry, a scale that weighs the 10th of a gram will suffice.
Many times, the jewelry is adorned with extra jewels and stones. In that case, you’ll first have to weigh the gems, subtract that figure and then calculate the final weight of silver.
Now multiply the weight with the fineness number. For example, if the jewelry weighs 10.5 grams and the fineness number is 925 or 92.5% then calculate 10.5×0.925. The true amount of silver in your jewelry is the result of 10.5×0.925, which is 9.7125 grams.
It is best to sell your jewlery to an jeweler that you can trust so you can ensure you are receiving the best price. Contact Master Jewelers Indiana, our expert staff is ready to help.