Silver Purity Explained: Fineness Grades and Pricing Factors

The purity of silver is typically expressed in fineness, indicating the percentage of pure silver in an alloy. For example, 999 fineness means 999 parts out of 1000 are pure silver.

Fine silver contains 99.9% silver content with minimal impurities and is considered the purest form available to consumers. Sterling silver, on the other hand, contains 92.5% silver and 7.5% other metals, usually copper.

The daily silver rate seen online serves as a benchmark, but the final showroom price will always be higher due to making charges and GST (Goods and Services Tax) of 3%. BIS hallmarking can verify authenticity, with products carrying a HUID code for investor protection.