Did you know that silver is available in different types in the market? Let’s have an idea about the alternatives of silver available in the market. The silver used in jewelry is usually an alloy and various elements are mixed with it to lend the kind of quality that is desired. Secondly, the finished jewelry pieces should have a quality stamp somewhere. Small details also need to be marked to ensure better transparency in terms of quality. Even, precious beads suppliers in India are inclined towards the business of sterling silver jewelry, owing to its promising future.
Know the varieties of silver
Fine silver is closest to pure element silver. It’s 99.9% pure with 0.1% remainder consisting of trace elements of insignificant quantity. Fine silver is grey in color and is fairly soft, and so is less commonly used in jewelry. Sterling silver is an alloy consisting of 92.5% silver. The remaining 7.5% is usually copper but is sometimes nickel also. It is commonly used silver in jewelry because of its sheen and brightness. However, sterling silver can tarnish with time and can get dented or scratched if it is banged around. In the category of non-tarnishing silver, Argentium is very popular. It contains 92.5% silver and 7.5% germanium. Germanium makes this silver harder and lends it anti-tarnish properties.
Trend of silver in market
Silver is attracting the investors in Indian market as the prices are inching upwards. The price of silver touched a new high of Rs.36, 300 per kg in last three months. The silver prices have crossed $15 per troy ounce level in the global market, and further increase is expected in the coming months. The surging price has led to more investments in silver market, and thus ensuring a year of prosperity for sterling silver jewellery suppliers in India.
Test for the quality of silver
The most common method used by sterling silver jewellery suppliers in India to test the purity of this precious metal is X-ray test. It is fairly accurate on most silver items, but the equipment used for it is very expensive. Another test is known as Assay and it melts down 0.5% of silver. It can be done only in laboratory by trained professionals. None of these tests can be performed without the help of trained professionals.
Silver which is regarded as poor man’s gold has not only attracted the urban buyers but also the consumers from rural India. Rural buyers prevalently purchase silver bars and coins for investment. Hence, silver has become the new gold for our country.