Silver Purity Explained: What You Need to Know

Silver purity is typically expressed as fineness, indicating the percentage of pure silver in an alloy. For example, 999 fineness means 999 parts out of 1000 are pure silver. The choice of purity depends on the intended use of the silver.

There are several types of silver, including fine silver (99.9% pure), sterling silver (92.5% pure), Britannia silver (95.8% pure), and coin silver (90% pure). Fine silver is the purest form of silver commonly available to consumers.

The daily silver rate you see online is just a benchmark, and the final showroom price will always be higher due to making charges and GST. The base silver price is calculated by adding making charges, which vary by design, and 3% GST. Stone deductions are also made for studded silver jewellery.