![]() Here are a few factors that determine the price of silver in the market. The analysis of silver pricing is complicated as some of the market phenomena that impact the price of silver interact inversely with one another.Ī number of factors impact the price of silver ranging from macroeconomic adjustments in the bullion market to seasonal microeconomic demand for the metal. It is important to carefully examine a variety of various aspects in order to understand the pricing trends of silver. ![]() Jeweler's identification mark: Jeweler’s identification mark is yet another technique to verify the purity of the metal. Year of making: This is denoted by the letter J for the year 2008Ĥ. Purity grade: For fine silver, the purity grade is either of 999.9, 999.5 or just 999 For silver alloys, jewelry and artifacts, it is 970, 925, 900, 835, 800ģ. This is the official logo of Bureau of Indian Standards or BIS.Ģ. It is a sort of triangular symbol with a dot inside the triangle. ![]() BIS mark- BIS Mark is one of the foremost marks of purity of silver. In order to be certain that you are buying pure form of silver, there are a few signs that one should look for in the piece of jewelry or article to determine is authenticity-ġ. In order to determine the purity of silver, hallmarking technique has been rolled out by the BIS, Bureau of Indian Standards, which is the organization responsible for Standardization, Certification and Quality.īIS was launched as a statutory organization under the Bureau of Indian Standards Act, 1986. A lot of silver dealers have since then been issued with hallmark licenses for selling hallmarked silver artifacts and jewelry. To obligate the producer to maintain legal standards of fineness and purity.īIS launched the hallmarking scheme for silver in the year 2005. To protect the buyer against adulterationĢ. Thus, hallmarked metals are guarantee of metals being pure and fine.Īccording to the BIS website, there are two principle objectives of the hallmarking scheme:ġ. Hallmarking is the accurate determination and recording of the content of precious metals in metals like gold, platinum and silver. The gold and silver amassed by the Europeans from the American continent reached Turkey and Persia and finally from there to Hindustan." Seventeenth-century Italian adventurer and traveler Giovanni Francesco Gemelli Careri once wrote, “India was the final destination for all the gold and silver that got exchanged through trade all over the world. Across the period of India’s recorded history, silver just like gold has been a sacred metal with its varied usage in deity worship, rites and rituals and, as an insignia of wealth and prosperity. Though it was also hammered to form thin sheets which could have been used to garnish eatables such as sweets. In India, it was the Indus Valley Civilisation that started the usage of silver mainly in the ornaments such as hair beads, necklace etc. Before 1797, British pennies were made of silver. The ancient Persians used silver coins between 612–330 BC. Silver has always been in demand because of its unique characteristics and relative scarcity.īeyond the ornamental value, silver has been used as a coinage metal since the times of the Greeks their silver drachmas were popular trade coins. Silver is a beautiful precious white metal, one in the class of gold, platinum, and palladium. ![]() ‘All that glitters is not gold’, sometimes it is silver.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |