Commodities
Silver Purity Matters: Understanding Your Investment Options
The purity of silver 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. Silver purity can vary from 99.9% for fine silver to 90% for coin silver.
Sterling silver is the most common grade used in jewelry and household items, containing 92.5% silver and 7.5% other metals. It was introduced as a higher standard than sterling silver. Britannia silver contains 95.8% silver and 4.2% other metals.
When buying silver, the final showroom price is always higher due to making charges and GST. The base silver price can be found online but it's essential to verify authenticity by checking the BIS logo and purity grade.