Precious Metals- Silver, Gold & Platinum Today with Prices
So you keep seeing the term precious metals and want to know what's that all about? Isn't metal, metal, right? Steel and aluminum are usually "the thought" in our heads when one thinks of mineral ore. Those are the most common forms of everyday metal yet not in the "precious metal spectrum" due to overly used and easily mined characteristics. Here we will explain these three famous and highly sought after commodities in both fine jewelry and everyday uses.
- An alloy that is composed of 92.5% of weight from silver and 7.5% of mostly cooper. Most sterling silver today has a .925 stamp or just 925 hallmarks, signifying its eccentric value. This is the most popular form of fine jewelry and worn by millions today. Sterling silver sets make it easy to wear all your favorite styles and paying a tenth of the price compared to gold and platinum.
- On the other hand, fine silver is 99% pure silver and more commonly seen in China sets and other collections and too soft to wear as jewels due to its softness.
- Silver also is used in homes, solar panels, water filtration devices, silverware, and electrical contacts. One of the largest silver consumers are governments and large refineries as buying bullion, coins, or an ounce of silver might be considered a good investment. As of the writing of this blog, June 30, 2020, silver is trading at $18 an ounce (oz.)
- An alloy that is the most attractive in terms of fine jewelry today, with different purity levels available, including 10k usually the "cheapest" form, 14k the most "popular and recommend" form, 18k the highly elegant composition, and 24k which is the purest (usually not wearable.)
- All gold is mined in its actual color and texture with a hue that is bright, slightly reddish yellow, dense, and soft. The three popular colors of gold are yellow, white, and rose gold. Keep in mind all gold originates as one shade, and that is yellow.
- We live in a society that wants options, and we love catering to that like an 18k Rose Gold Diamond Necklace with Pendant. Rose gold is composed of yellow gold purified down to eighteen parts instead of twenty-four parts (24k not wearable) with more copper and less silver. All gold at artisancarat.com will have its respectable hallmark like 750 or 18kt to represent the value and finish.
- Let's say you are a fan of a white finish and are looking for 14k white gold earrings. White gold is composed of yellow gold purified down to fourteen karats instead of twenty-four karats with more silver and less copper. All gold at artisancarat.com will have its respectable stamp featuring either 585/583 or 14k to represent the value and finish.
- The largest consumer or user of fine gold are governments and gold refining businesses. The production of gold coins and bullion bars are considered an essential investment for your future. As of the writing of this blog, June 30, 2020, gold is trading at $1780 an ounce (oz.)
- A scarce alloy and usually attractive with fine jewelry has a white silver finish often times can be confused with sterling silver. A really lustrous, malleable, and ductile element typically in its pure form between 90-95% and is considered the most genuine among this trio of precious metals.
- Resistance to pure corrosion platinum is used to construct catalytic converters for automobiles, found in medical equipment and electrical components.
- Less likely used by governments and refineries due to hard mining and scarcity but is available as a long term investment. As of the writing of this blog, June 30, 2020, platinum is trading at $795 an ounce (oz.)
The most popular form of fine jewelry that stands today is sterling silver, due to its low cost and also how modern the color "white" is for gems color of choice. The most elegant and when jewelry comes to mind is gold; we believe that won't change anytime soon. Yet platinum is at the top of the trio for scarcity and longevity reasons.