About Silver

SILVER’S SHINING STORY

Silver often plays second fiddle to another precious metal, gold, but with its unique qualities of strength, ductility and resistance to changes in temperature, has rendered it an indispensable element. Other than being used in jewellery and silverware, silver is largely used in electronic components and medicine. Today, it is even considered a secure and affordable investment and has earned a place in the portfolios of many different types of investors for that reason.

THE HUMBLE BEGINNINGS OF SILVER

Silver is believed to have been first mined in Anatolia (modern-day Turkey) as early as 4000BC. It was only in 2500 BC that Chaldeans created a sophisticated method of cupellation to process silver ore. Slowly Laurium mines (near Athens) became highly productive mines, producing 1 million troy ounces per year, making it the largest individual source of silver production till around the 1st century AD. It was back then, in 550 BC that the first silver coins were minted. The Roman Empire was the first to adopt silver as part of its standard coinage, after which it was included in the official currencies of China during the Han Dynasty. It was only in 1792, that the then US Treasury, Alexander Hamilton proposed the adoption of a gold and silver-based monetary system, and in 2 years, the first official US Dollar was minted. Today, China consumes the most silver, followed by the United States and Japan.

SHINING PROPERTIES OF SILVER

Chemical symbol: Ag
Atomic number: 47
Atomic weight: 107.868
Melting point: 960.8 °C (1,861.4 °F)
Boiling point: 2,212 °C (4,014 °F)

THE MANY SIDES OF SILVER

Silver is largely known for its use in coins, silverware and of course, jewellery. But did you know that this actually accounts for less than 50% of all silver consumption? Industries like energy & science, healthcare and electronics have also been exploiting the unique properties of silver.

In Medicine & Healthcare: From dental fillings and treatment of warts and corns to radiology and fighting E.coli, silver has been proved to be effective in keeping bacteria at bay.

In Electronics & Technology: Found in nearly every electronic device, silver’s excellent electrical conductivity makes it a natural choice for everything from printed circuit boards to switches and TV screens.

In Energy & Science: Apart from its use in nuclear reactors and fuel cells, silver plays a vital role in the production of solar cells that produce electricity.

In Homes: Coins, washing machines, jewellery, air conditioners and mirrors are all known uses of silver in homes, but silver is also now being used to keep milk safe, as food garnishing and in pillowcases and bedding and footwear.

In Automobiles: Silver has been playing an important role in making our motor vehicles more and more computerized and safe.

In Water Purification: By using silver in water purifiers, the growth of bacteria and algae are prevented.

In Photography: Despite the growth of digital photography, silver-based film is still being used for X-rays and is the medium of choice for some commercial motion pictures because of the vibrant colour and detail..

In Investments: Today, silver is considered to be a secure and affordable investment and is preferred by many investors.

SELECTING SILVER ARTICLES AND JEWELLERY

The first and most important factor to note when buying silver is the purity. 100% pure silver is too soft to produce a functional object, and so alloys of silver and other metals like copper is used to give the object strength. The purity and standards table, accepted by the Bureau of Indian Standards (BIS), is detailed out below

SPOTTING LOW QUALITY SILVER

Because of the high value of silver, many vendors try to sell imitation silver at the price of the pure metal, leaving customers with low-quality products. Here are some tips to ensure that the article or jewellery you buy is made of the real metal. You need to look for:

1) BIS stamp, which certifies the quality of the silver.
2) Purity grade i.e. 925 or 900, indicating Sterling or Coin Silver respectively.
3) Year of Marking
4) Jeweller’s Identification Mark