Are Silver & Gold Costs Getting out of Hand?

Are you overburdened with the cost of silver? Do you find yourself cringing every time you have to place an order? These are times I wished I lived next to the Comstock Mine and owned a mule.  I digress. There's a new way to buy silver you might be interested in looking into. It's called 'Silver Filled'. Silver filled is supposed to be the same as Gold Filled which has 50,000 to 100,000 times more gold than plated material. Silver Filled is silver with a copper core whereas gold has a brass core. It's also considered fine jewelry that will last a lifetime and won't wear like plated. The only place I've seen this so far is at Fire Mountain Gems. But it only goes up to 18 gauge and I like to work with heavier wire, so it doesn't do me much good. But if you want a break from the staggering cost of silver you might want to give this a try. Fire Mountain Gems Silver Filled Wire

I recently read where  silver is reaching all-time highs because the Chinese are buying it in massive quantities to make solar panels. That the realistic value of silver is between $22 and $25.
The Chinese have no indication of slowing down it's manufacturing, so be prepared for the price of silver and gold to keep going up. Speculation abounds in the market big time!

Gold is used in many industrial applications as well, including the plating of cell phone battery contacts. Costly to refine, but it's another application to raise the price of gold.  A blurb from Mining Weekly  : "The virtues and unique characteristics of gold, such as ductility, reflectivity, resistance to corrosion, and the ability to be used as a thermal and electrical conductor, make it an ideal candidate for use in a variety of industrial applications, consuming close to 300 t/y. " Not good for the small business owner.

We have no choice but to adapt. Either by raising our prices or changing the materials we use. Bronze and Brass are the new 'gold'. Make sure you're honest with your customer and describe what it is that you're selling. Alexander Calder used brass, steel, wood, leather and bone years ago. If it was good enough for him then, it's good enough for me now.

If you want to find more about precious metals quickly, please visit
Precious Metals 101

Comments

  1. I only make jewelry for myself, but Fire Mountain is my favorite company to order from! It's too bad that the price is going up, but when I see the reason why (solar panels) I can't help but smile. It's about time. :)

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  2. Chris, your article was helpful and interesting. Thanks for the explanation of why the cost of silver is going up and not likely to come down.

    ReplyDelete
  3. Thanks for the information, very interesting and good to know!

    ReplyDelete
  4. There is a chance you qualify for a new government solar program.
    Find out if you qualify now!

    ReplyDelete

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