Silver Purity Explained: From Coin to Fine
The purity of silver is typically expressed in fineness, indicating the percentage of pure silver in an alloy. For instance, 999 fineness means 999 parts out of 1000 are pure silver.
Fine silver, also known as pure silver or .999 silver, contains 99.9% silver content with minimal impurities. It is the purest form of silver commonly available to consumers.
Sterling silver, on the other hand, is the most common grade used in jewellery and household items. It contains 92.5% silver and 7.5% other metals, usually copper. Britannia silver has a slightly higher purity at 95.8%, with 4.2% other metals.
The daily silver rate you see online is just a benchmark, and the final showroom price will always be higher due to making charges, GST, and stone deductions for studded silver jewellery.