Why Has the Cost of Silver Jewelry Gone Up?
Why has the price of silver jewelry gone up in the past year? Glad you asked. Some of our customers question why does our silver jewelry prices fluctuate. Our response is: for the same reason the price you pay at the gas pump fluctuates from day to day. First and foremost, silver is a commodity just like oil, gold, gas, coal etc. When the prices of these commodities surge like they have in the last year, the price of raw silver will go right along with them. Sterling silver jewelry is comprised of 92.5% silver (thus the .925 stamp on all true sterling pieces) and 7.5% copper. The copper makes the silver more durable. Raw silver prices went from $12/oz a year ago to over $20/oz. Just in the last month have they had a steep drop from $18/oz to under $14/oz. Silver jewelry designer/producers do not make any more money by increasing the prices of our silver jewelry but are only recouping the increased costs of the raw materials. The majority of silver used to produce sterling jewelry in pr