World Silver Prices

The price of silver in the world has been rising at a fast pace this year and has impacted upon the cost/price of silver jewellery. Below is a graph showing the increase in price over the last 5 years:

 

You will see that the price of silver has increased approximately four-fold over the past 5 years!

As a seller of silver marcasite jewellery this has obviously had a significant impact upon our costs - QT Silver Website - and also our prices. Whilst we have done our best to keep price increases to a minimum it is inevitable that prices have risen over time.

Given the current supply and demand situation with silver it is extremely unlikely that the upward trend will not continue. Silver has unique qualities as a metal that has seen the demand for its use in the fields of electronics and medical supplies grow significantly in recent years. On the supply side there do not appear to be significant silver finds taking place so demand has been out-stripping supply, which inevitably leads to an increase in the price.

If you are reading this blog then you are likely to be a fan of marcasite jewellery and therefore are likely to own some silver jewellery. The increase in world silver prices will mean that the value of some of your old pieces will have been increasing in recent years. Now may be the time to have a hunt around for any old silver/marcasite jewellery that you may have forgotten about and make sure you give it a good clean and store them more carefully! Silver oxidises when in contact with the air so will tarnish. It is, therefore, best to keep your silver jewellery in sealed plastic bags, keep away from the damp and away from direct sunlight.