Silver
Silver: fineness (999, 958, 925, 800), hallmarks and price, and how to buy and sell it
Everything a buyer needs to know about silver: the 999, 958, 925 and 800 finenesses and what each number means, hallmarks and marks, today's gram price and why the making charge is such a large share of a silver piece, investment silver against jewellery, tarnish and storage, and tests for genuineness.
Silver: fineness, hallmarks and price
Silver is less talked about than gold at the jeweller's, but it is in every home: rings and chains, tableware and gifts, and in recent years bars and coins for saving. The questions about it repeat: what does 925 mean? Is Italian silver better? Why does it go dark? What is a gram worth today, and why do you pay many times that in the shop? This guide answers them in the order a buyer meets them.
Silver finenesses: parts per thousand, not karats
Silver purity is measured in parts per thousand, not in karats out of 24 like gold:
| Number | Purity | Common name | Use |
|---|---|---|---|
| 999 / 999.9 | 99.9% | fine silver | bars and investment coins |
| 958 | 95.8% | Britannia silver | the UK Britannia standard, some tableware |
| 925 | 92.5% | sterling silver | jewellery and fine tableware |
| 900 | 90% | coin silver | older coinage |
| 800 | 80% | continental silver | European tableware and cutlery |
925 is the world standard for jewellery, because fine silver is too soft and adding 7.5% copper hardens it. "Italian silver" is a trade term for 925 jewellery made or designed in Italy; it is not a different fineness.
Hallmarks and marks
A piece carries its fineness number (925 or 999) and sometimes the maker's and country marks. In the UK hallmarking is compulsory for silver over 7.78 grams, with the Assay Office symbol (the lion passant for sterling); in India BIS hallmarking of silver is voluntary; in Egypt and the Gulf silver jewellery is stamped with its fineness by many shops but the oversight is lighter than for gold, so a trusted source matters more. Beware of "SP" and "EP" (silver plated), alpaca and nickel silver (an alloy with no silver at all), and vermeil (925 silver plated with gold, sold at the value of the silver).
Today's gram price and why the shop price is so different
The silver ounce today (November 7, 2026) is $52.07, so a gram of fine silver is $1.67, about £1.25 or ₹157.22; a gram of 925 is the fine price × 0.925. Here is the big difference from gold: because the metal is cheap, the making charge becomes a huge share of a piece's price. A 5-gram silver ring holds a few dollars of metal and sells for tens or hundreds; you pay for the work, the design and the brand, not the metal. That is why silver jewellery is never bought as savings: when you sell, it is valued at its weight of silver only, a small fraction of what you paid.
Investment silver: bars and coins
Anyone who wants silver as savings buys 999 bars (usually from 100 grams to a kilo, because small bars carry a very high premium) or one-ounce 999 coins from known mints (the Philharmonic, the Maple Leaf, the Eagle, the Britannia). The premium over the raw price is higher than for gold (it can exceed 10–20% on small coins) and the deduction when you sell is larger, so silver is an asset for someone who holds for years. Tax differs sharply by country: in Saudi Arabia and the UAE investment metals of 99% purity or more (silver included) are zero-rated; in the United Kingdom silver carries 20% VAT unlike investment gold; in the United States it depends on the state. Ask about the rule where you live before buying.
Why silver tarnishes, and how to keep it
Silver reacts with sulphur in the air, in sweat and in cosmetics, forming a dark layer (sulphide) on the surface. This does not change its weight or value when sold by weight, and it comes off with polishing or with a bath of baking soda and hot water on aluminium foil. For storage: a sealed bag or box away from damp, anti-tarnish bags for bars, and no wearing in the sea or the pool.
How to tell genuine silver
- Magnet: silver is not magnetic; attraction means another metal.
- Ice: silver is among the best conductors of heat; an ice cube on a silver bar melts visibly faster than on another metal.
- Ring: a silver coin gives a high, long ring when tapped.
- Acid: a drop of silver testing acid turns creamy on genuine silver and green on copper or plating.
- XRF at a metals dealer for large quantities.
Where to buy silver
Silver jewellery is sold at jewellers, accessory shops and brands, usually priced by the piece rather than by the gram; ask for the weight and fineness on the invoice anyway. Investment silver comes from bullion dealers and the accredited companies that sell gold, some of which stock silver bars from 100 grams to a kilo and one-ounce coins with certificates. Compare premiums between dealers; the differences in silver are larger than in gold. And avoid "silver bars" from anonymous advertisements at or below the raw price.
Old silverware: how it is valued
Inherited sets and tableware usually carry a mark of 800, 900 or 925, and are sometimes only plated. The base value is weight × fineness × the fine silver gram price, less a melting deduction; artistic or rare old pieces can sell to collectors for more than their weight. Separate the non-silver parts (knife handles and candlestick bases are often weighted with a heavy filling) before weighing, and ask for an XRF test if the quantity is large.
Silver and zakat
The silver nisab is 595 grams of pure silver (about $996 or £746 today), and zakat is 2.5% after a lunar year; sterling is converted to pure by multiplying the weight by 0.925. The zakat calculator combines gold and silver or computes each separately.
Silver or gold?
A full comparison is in the article gold or silver for saving. In short: silver is more volatile, bulkier, carries higher premiums and is less liquid in shops, and suits a small share of the savings of someone who already owns gold and can wait.
Frequently asked questions
What does 925 on a ring mean?
92.5% silver and 7.5% other metals (usually copper); it is the standard fineness for silver jewellery, called sterling.
Is Italian silver a different fineness?
No; it is 925 jewellery made or designed in Italy, distinguished by design and workmanship, not purity.
Why does a silver ring cost many times the gram price?
Because the metal is cheap and the making and the design are most of the price; when you sell, the piece is valued at its weight of silver only.
Does silver lose value when it tarnishes?
It darkens on the surface by reacting with sulphur, which polishing removes, and it loses nothing of its weight or value.