Solid silver refers to silver that is 99.9% pure, also known as 999 fineness. This is the highest purity of silver that can be achieved. It is valued for its appearance, durability, and use in high-end applications like jewelry and silverware.
Silver with the highest purity is termed solid silver, while the presence of other metals reduces its purity, creating silver alloys.
Properties of Solid Silver
Solid silver is a lustrous white precious metal that, while soft, can be made more durable through alloying and is highly valued for its appearance and worth.
With its highest purity, it is a versatile material commonly used in jewelry, tableware, and investment products due to its intrinsic value and workability.
- Appearance: Solid silver has a lustrous, bright white metallic appearance.
- Purity: It is 99.9% pure, making it one of the most refined precious metals.
- Softness: Also, it is a relatively soft and malleable metal, more so than many other precious metals.
- Durability: While soft, it can be made more durable by alloying it with other metals like copper.
- Value: Solid silver is a highly valuable precious metal, though less so than gold on the commodity markets.
Solid Silver and other metals
This silver, though less valuable than gold, is prized for its high purity and serves in jewelry, tableware, decorative items, and some industrial applications due to its relatively soft nature compared to gold and platinum.
| Properties | Solid Silver | Gold | Platinum |
|---|---|---|---|
| Purity | 99.9% pure | Up to 99.9% pure | Up to 99.95% pure |
| Appearance | Lustrous white | Yellow | Silvery-white |
| Durability | Relatively soft, malleable | Soft, malleable | Very hard, durable |
| Conductivity | An excellent conductor of heat and electricity | Good conductor | Good conductor |
| Corrosion Resistance | Resistant to atmospheric oxidation | Resistant to corrosion | Highly resistant to corrosion |
| Value | High monetary value, less than gold | Highest monetary value of precious metals | High monetary value, more than gold |
Solid Silver Hallmarks
Solid Silver is hallmarked with a “999” fineness mark to indicate its extremely high silver content. Hallmarks are important legal stamps that guarantee the precious metal content, enabling accurate valuations.
Solid silver hallmarks are significant for determining the value of antique and scrap silver, as silver purity is the main factor driving the worth.
Solid Silver Price
The current price of solid silver is £23.98 per troy ounce and £0.7699 per gram in the United Kingdom as of 2024-06-28. Troy ounce is the standard unit used for precious metals like gold and silver.
This price may fluctuate with factors such as global supply and demand, economic conditions, and market speculation. Due to its highest purity solid silver is the most-priced silver as compared to all other silver alloys.
- Price per gram: £0.7699
- Price per ounce: £23.98
Solid Silver Tarnish
Solid silver can tarnish over time due to a reaction between silver and sulfur compounds in the air, forming silver sulfide. Though natural, tarnishing can diminish its lustrous appearance.
Tarnished solid silver can be easily cleaned and restored to its original luster. A gentle silver polish or cleaning solution, along with a soft cloth, will remove the tarnish without damaging the underlying silver.
Solid Silver Coins
Solid silver coins provide investors and collectors with a pure, government-backed form of silver that they can use for investment, collection, and even some industrial purposes due to silver’s valuable physical properties.
The standard size for solid silver bullion coins is 1 troy ounce, with varying diameters and thicknesses depending on the country of origin, but other fractional sizes are also common such as 1/10 oz, 1/4 oz, and 1/2 oz.
Solid Silver Bars
Common sizes for solid silver bars include 1 kg, 100 oz, and 1000 oz. 1000 oz bar contains around 31 kg of pure silver. Solid silver bars are produced by reputable mints and refineries that are members of the London Bullion Market Association (LBMA).
The global spot price of silver primarily drives the price of solid silver bars, with a small premium added for fabrication and distribution.
History of Solid Silver
People have used silver for thousands of years, and it has held significant importance in many cultures. Ancient civilizations valued silver for its beauty, rarity, and versatility.
Over time, people have evolved its applications from using it in coins and jewelry to using it in more modern applications like electronics and industrial uses. Silver’s enduring appeal and adaptability have ensured its continued relevance throughout history.
FAQs
Solid silver is 99.9% pure, also known as 999 fineness.
Solid silver has a lower monetary value but is more affordable than gold and platinum. It is less durable than platinum but more malleable than gold. Solid silver has a distinctive white luster.
People determine the value of solid silver based on its purity, weight, and current market price, which can fluctuate based on global supply and demand, economic conditions, and market speculation.
People commonly use solid silver in jewelry, tableware, decorative items, and some industrial applications due to its high purity and attractive appearance.
Use a soft cloth and a silver polish to clean solid silver. Avoid abrasive materials that can scratch the surface.
Solid silver tarnishes because it reacts with sulfur in the air, forming a dark layer of silver sulfide.
