Silver, the new Gold – Some tips before buying silver jewelry
New trends in Kerala observe that silver is rapidly taking over the dominion once reigned by gold. Especially among the teenage and college-going population in Kerala, silver is catching on as the new jewelry trend, following the foot-steps of the rest of India in giving the shiny, white metal a special place in their jewelry box.
What contributes to this sudden favoritism of this once discredited metal? The non-relenting increase in gold prices, of course is the undisputed reason. But apart from the un-attainable status of gold, silver is often quoted to be more current than its yellow counterpart. Plus, it is one jewelry that goes well with any type of attire; traditional or modern. All these in combination make for the resurgence of silver as the preferred metal of ornamentation of the young and not-so-young inclusive.
Here’s a fact: It is well known that India has made a place in the world commodities chart as the top importer of gold (624 metric tones, last quarter). But did you know that 2010 has also seen India rise as the world no.1 in the import of silver? Statistics also state that in the US, silver eagle coins are selling like hot cakes, 32,890,500 coins being ordered between Jan and November this year.
So, there it is. The figures on the charts speak for themselves. Silver is growing in competition to gold and it is absolutely no wonder that silver jewelry is gaining momentum amongst the Malayalee population. So what are the kinds of silver jewelry that is making waves in the market of the day?
As with gold, in India each state has its own distinctive style of jewelry design. In Rajasthan, the traditional designs include the ‘Hero Pendant’ and the ‘Makara Bangles’ which are much akin to the snake-headed bangles in Kerala. For those who are not a fan of tribal jewelry, come the princely Filigree designed jewelry with its roots in various parts of India- Kashmir, Orissa and even UP.
Of course, for those interested in global designs, silver jewelry has its own collection up for display pertaining to most cultures of the world. Egyptian filigree jewelry, Tibetan tribal jewelry and Mexican silver jewelry are just a few of the designs you can choose from. Earrings, necklaces, chains and anklets- silver jewelry too, has it all. Most of the current gold designs can be done on a silver piece too. And, you can own your favorite piece for just quarter of the price you would pay for a gold one!
So, what all do you need to know before investing in silver jewelry? The standards for investing in silver jewelry are a bit different from those of gold. The hallmark of silver jewelry is 92.5 and for this combination of silver and copper, the name is ‘Sterling’ silver. At 95.8, there is also Britannia silver which is used to make other silverware.
Like gold, silver can also be exchanged and minus the labor charges and tax, you can pretty much walk away with the entire money you invested. And like gold, if you buy jewelry hoarded with stones, chances are that you may not be returned the price of stones during exchange.
Rhodium plated jewelry is the new trend in silver jewelry purchase. This can be explained as follows. Sterling silver, to give it that platinum-shine, was often coated with fine silver. Modern jewelry gives the same shine to silver jewelry by rhodium plating. This fine layer of shiny, glossy, rhodium plating on your silver necklace can put to shame even that platinum chain you saw in the jewelry store the other day.
Since silver is not an inert metal like gold, it is subject to corrosion and therefore care of jewelry is vital for prolonged use. Cleaning the jewelry on occasion is a must and it should be done with a jeweler's rouge cloth. When not in use, keep the jewelry locked away in air-tight boxes as contact with damp air can corrode the shine on the metal. On a regular basis, take your jewelry to the silversmith and give it a rhodium polish to make it look new and shiny!
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