Sterling Silver Price
Sterling silver is a popular metal for jewellery, but how much is it worth? How can you tell if your silver pieces are genuine or plated? And what factors affect the sterling silver price per gram or ounce? In this article, we will answer these questions and more, so you can make informed decisions about your silver jewellery.
Sterling Silver Price Per Gram and Per Ounce
Before we dive into the details, let us take a quick look at the current sterling silver price per gram and per ounce. As of October 24, 2023, the spot price of silver is $22.90 per ounce, which means that one gram of silver is worth $0.74. However, this is different from the sterling silver price because sterling silver is not pure silver. Sterling silver is an alloy that contains 92.5% silver and 7.5% other metals, usually copper. Therefore, the sterling silver price per gram is $0.68, and the sterling silver price per ounce is $19.3.
| Metal | Price Per Gram | Price Per Ounce |
| Silver | $0.74 | $22.90 |
| Sterling Silver | $0.68 | $19.30 |
These prices are based on the spot price of silver, which changes constantly depending on the market conditions, supply and demand, and other factors. You can check the latest sterling silver price on websites like Kitco or CoinTrackers.
However, keep in mind that these prices are not what you will get if you sell your sterling silver jewellery to a dealer or a pawn shop. The actual value of your jewellery depends on many other factors, such as the weight, purity, design, condition, and brand of your pieces. We will discuss these factors in more detail below.
How to Determine the Purity of Your Sterling Silver Jewellery
One of the most key factors that affect the value of your sterling silver jewellery is its purity. As we mentioned earlier, sterling silver is an alloy that contains 92.5% silver and 7.5% other metals. However, not all silver jewellery is sterling silver. Some pieces may have a lower or higher percentage of silver or may be plated with a thin layer of silver over a base metal.
To determine the purity of your sterling silver jewellery, you need to look for hallmarks or stamps on your pieces. Hallmarks are small symbols or letters that indicate the metal content and origin of your jewellery. For example, if you see a stamp that says “925” or “STERLING” on your piece, it means that it is made of 92.5% silver and 7.5% other metals. Other common hallmarks for sterling silver are “SS,” “SILVER,” or “STG.”
However, if you see a stamp that says “800”, “900”, or “950” on your piece, it means that it has a lower or higher percentage of silver than sterling silver. For example, “800” means 80% silver and 20% other metals, “900” means 90% silver and 10% other metals, and “950” means 95% silver and 5% other metals.
If you see a stamp that says “EPNS,” “EPBM,” “SILVER PLATED,” or “SP,” it means that your piece is not solid silver but plated with a thin layer of silver over a base metal such as nickel or brass. Plated pieces have truly little value compared to solid pieces because they contain truly little actual silver.
If you do not see any hallmarks on your piece, it may be difficult to tell if it is genuine or plated without evaluating it with a professional jeweller or a decisive test kit. However, there are some clues that can help you identify fake or plated pieces:
- Fake or plated pieces may have a dull or cloudy appearance compared to genuine pieces.
- Fake or plated pieces may have peeling, flaking, or chipping areas where the base metal is exposed.
- Fake or plated pieces may have a greenish or blackish tarnish that is hard to remove.
- Fake or plated pieces may have a magnetic attraction to magnets.
How to Weigh Your Sterling Silver Jewellery
Another factor that affects the value of your sterling silver jewellery is its weight. The heavier your piece is, the more silver it contains and the more it is worth. To weigh your piece accurately, you need to use a digital scale that can measure grams or ounces.
However, before you weigh your piece, you need to remove any non-silver parts from it, such as stones, clasps, chains, or hooks. These parts can add extra weight to your piece and lower its value per gram or ounce.
To remove these parts from your piece, you can use pliers, scissors, or a knife to cut them off carefully without damaging your piece. Alternatively, you can take your piece to a professional jeweller who can remove them for you.
Once you have removed the non-silver parts from your piece, you can place it on the scale and record its weight in grams or ounces. Then, you can multiply the weight by the sterling silver price per gram or ounce to get an estimate of its value.
For example, if your piece weighs 10 grams and the sterling silver price per gram is $0.68, then its value is 10 x 0.68 = $6.8. However, this is not the final value of your piece, because there are other factors that affect its value, such as the design, condition, and brand of your piece.
How to Assess the Design, Condition, and Brand of Your Sterling Silver Jewellery
The last factor that affects the value of your sterling silver jewellery is its design, condition, and brand. These factors are more subjective and depend on the preferences and tastes of buyers and sellers.
The design of your piece refers to its style, shape, size, and artisanship. Some designs are more popular and desirable than others, depending on the current trends and fashions. For example, vintage or antique pieces may have more value than modern or mass-produced pieces because they are rare and unique. Similarly, handmade, or custom-made pieces may have more value than machine-made or generic pieces because they are more original and personal.
The condition of your piece refers to its physical state and quality. Some pieces may have more value than others depending on how well they have been maintained and preserved. For example, pieces that are clean, shiny, and free of scratches, dents, or damage may have more value than pieces that are dirty, dull, or broken. Similarly, pieces that have their original packaging, certificates, or receipts may have more value than pieces that do not have any proof of authenticity or ownership.
How to Sell Your Sterling Silver Jewellery
If you want to sell your sterling silver jewellery for cash, you have several options to choose from. You can sell your piece to a dealer or a pawn shop, online or offline. You can also sell your piece to a private buyer or a collector, online or offline.
However, before you sell your piece, you need to do some research and preparation to get the best deal possible. Here are some tips to help you sell your sterling silver jewellery:
- Know the current market value of your piece by checking the spot price of silver and the sterling silver price per gram or ounce.
- Know the purity, weight, design, condition, and brand of your piece by looking for hallmarks, weighing it accurately, and assessing its features.
- Know the demand and popularity of your piece by checking online platforms such as eBay, Etsy or Planetsilver.id for related items and their prices.
- Know your options and compare different offers from different buyers by shopping around and negotiating.
- Know your rights and responsibilities as a seller by reading the terms and conditions of each buyer and following their instructions.
Conclusion
Sterling silver is a beautiful and valuable metal that can be used to make stunning jewellery pieces. However, not all sterling silver jewellery is created equal. The value of your piece depends on several factors such as its purity, weight, design, condition, and brand.
To find out how much your sterling silver jewellery is worth, you need to check the spot price of silver and the sterling silver price per gram or ounce. Then you need to look for hallmarks on your piece to determine its purity. Next you need to weigh your piece without any non-silver parts to determine its weight. After that you need to assess its design, condition, and brand to determine its appeal. Finally, you need to compare different offers from different buyers to get the best deal possible.
