Commodities
Silver Purity: What You Need to Know
The purity of silver is measured in fineness, indicating the percentage of pure silver in an alloy. Fine silver contains 99.9% pure silver and is used for investment coins and bars due to its resistance to tarnish but softness.
Sterling silver, on the other hand, consists of 92.5% silver and 7.5% copper or other metals. It's widely used in jewellery and household items.
The daily silver rate is a benchmark, with the final showroom price being higher due to making charges and a 3% GST. BIS hallmarking ensures authenticity by verifying the purity grade, such as 925 for sterling silver or 999 for fine silver.