Understanding Silver Purity: A Guide for Investors

Silver purity 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 suitable primarily for investment coins and bars rather than everyday jewellery.

Sterling silver, on the other hand, consists of 92.5% silver and 7.5% copper or other metals and is the global standard for silver jewellery and silverware.

When buying silver, consumers must consider the base price, making charges, and a 3% GST, which can increase the final showroom price.