Precious metals occupy a curious position of ubiquity in all our lives. Even if we've never seen or held an ounce of gold or silver in our hands, we know them very well, all the same. If you were to ask a stranger on the street, 'Is sterling silver expensive?' you can bet on the reply you'll receive.
Rarity and beauty go hand in hand. Throughout the years, humanity has taken every opportunity presented to us to refine, shape, cut, and polish anything that would prove rare and beautiful for our efforts. It's for this reason that some materials hold a timeless value in our eyes, and sterling silver is no different.
If you're curious about sterling silver, we've got you covered! Read on to find out more.
What Is Sterling Silver?
Sterling silver isn't pure silver, it's an alloy of 92.5% silver and 7.5% other metals. The nature of pure silver (or fine silver as it's otherwise known), while beautiful, is far too malleable to stand up to the daily wear of jewelry, let alone more practical uses. For this reason, other metals are added to increase strength while retaining the beauty that lends it its value.
It's this percentage that differentiates sterling silver from other types. For this reason, it's relatively simple to identify, as most sterling silver items are stamped upon creation. These hallmarks are recognized worldwide and are frequently used to facilitate easy identification.
To check at a glance whether or not your item is true sterling silver, simply look it over for a stamped 'sterling' or the number 925. This number alludes to the agreed-upon minimum silver percentage required for an alloy to be considered true sterling silver.
Investing in Sterling Silver
If you're the type to look to the future and speculate on making a sound investment, you might be wondering about the potential of sterling silver. While it's by no means as valuable or stable as gold, there's still a competitive market surrounding its trade. With the future of FIAT currencies looking more dubious than ever, you're not alone in your curiosity.
Much of the future speculation concerning precious metals comes from the fact that the amount that exists can't be inflated. While it can be mined, there still exists a limited amount of ore within the Earth's crust. Once it's all extracted, that'll be the end of it.
Due to this fact and the effort required to extract and process it, it's likely to hold its value in the face of inflation. The gold standard once linked the value of currencies to a specified amount of gold, ensuring currencies held a certain weight. Nowadays this isn't the case, and the true value of FIAT money is being called into question as it's backed by nothing but our trust in the banking system.
Much of the speculation surrounding the investment in precious metals suggests that FIAT currencies are doomed to fail, and when they do we'll look to gold and silver as a time-honored replacement. In this case, the savvy investor who bets on the decline of FIAT at the right moment by investing in gold and silver will do very well indeed.
Is Sterling Silver Expensive?
The beauty of investing in precious metals is that much of their value exists as weight. While some items created from silver will also have historical or artistic prestige attached to them, potentially increasing their value, the weight and purity of their material remain constant.
For example, particularly rare silver coins with desirable dates and histories may be worth more in the eyes of someone appreciative of silver items with a story. In the eyes of someone who cares nothing for the history of these coins, they're still pure silver and worth the current silver value. While an item's worth often hinges on the skill of its construction and the time spent to create it, these are concepts concerning individual perception of worth.
Silver jewelry, much like gold jewelry, is often melted down for exactly this reason.
The price of the material itself is solid and reliable. No matter what, you can count on being able to sell it for the going rate by weight, no matter the form it takes. For this reason, the price of sterling silver bars is quite stable and an investment worth considering while searching for future reliability in the marketplace.
Tips for New Investors
Investing in precious metals seems like a safe way to ensure you don't lose out if the worst comes to the worst. While we all have a bank account where we keep our hard-earned money, the rules behind the system it exists in are nebulous and opaque. The movement towards the digitization of currency is further seeking to divorce FIAT money from anything tangible, such as coins and notes.
If the direction our currencies seem to be taking is worrying you, you're not alone. Any worry based on fact should be analyzed carefully, especially where our future is concerned. New investors seeking to build a firm foundation on something more solid than trust and hope are gaining in number by the day.
The world of investing isn't an easy one to get into, and many traps and pitfalls are waiting for the enthusiastic rookie investor. Many of these errors lead to disillusionment and financial loss, but can easily be avoided with a little help from the pros. If you're interested in getting started on the right foot, check out our free investors guide today!
An Affordable Start
Not everyone can afford to buy a bar of gold to begin their journey towards financial security. There's also no need to jump into the deep end like that when so many types of silver exist. If you're looking to hold onto the value of your money, it doesn't matter the amount or the price of the metal you buy, only that it holds its value.
If this article has answered the question of 'Is sterling silver expensive?' but you've still got questions or require our silver coin grading services, don't hesitate to reach out! We'd love to hear from you.