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Gold/Mining/Energy : Silver prices

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To: Ming who wrote (853)	3/11/1998 4:52:00 AM
From: Aurum	Read Replies (1) of 8010

No modern (20th century) coins or silverware have been made out of pure silver. Pure silver is too soft for jewellery and coins, and is mostly alloyed with copper for coins (and copper with traces of other metals for jewellery). I doubt if silver plates etc are made of pure silver (too soft and easily scratched) - silver plates are often plated with rhodium (or they were - rhodium has gone up considerably in the last few years). Hence, all these silver items have to be processed by a refiner. In any case, I doubt that the average Indian would get a return of more than 50% on the silver content of his (her) silver jewellery - also, they are losing the "facon" (I think that is the right spelling.) value, which is the cost of making and selling the jewellery that the jeweller charges in the first place. Put all this together and I think that the small holders of silver jewellery in India (and elsewhere) will not break even until the price of silver goes to about US15 per ounce. Even then, I think most holders of silver jewellery see it as an emergency money item, not as a trading item. Silver bars are different.

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