THE SILVER SITUATION: WHY JEWELLERY PRICES ARE RISING

You might have noticed that the silver market has been making news lately. If you’ve been following the industry or other silversmiths/goldsmiths, you’ve possibly seen the numbers: Silver has increased significantly over the last year and it’s unfortunately here to stay.

WHY IS THIS HAPPENING?

It’s easy to think of silver as just the metal that jewellery is made of, but silver is no longer just for jewellery. It has become a vital material for the modern world. It’s become important in:

• Green Energy: Essential for high efficiency solar panels.

• AI: In the hardware powering data centres and AI servers.

• Transport: In the sensors and electronics in electric vehicles.

Silver sheet now costing £175

Because so much silver is used in these technologies rather than being recycled, demand is much higher than what the world’s mines can actually pull out of the ground.  On top of that, when the world feels a bit unstable, investors often run to gold and silver to protect their wealth, which drives prices up even further.

Silver has been in a supply deficit for six years running. With new silver mines being difficult and time consuming to open, the supply simply cannot keep up with the need for the metal. 

To show you exactly what that looks like: This piece of metal 10cm x 10cm and 0.5mm thick that cost me £65 six months ago now costs me £180. Because of that jump, I’ve had to adjust my prices to keep making high quality pieces.

THE SILVER LINING: YOUR JEWELLERY IS GROWING IN VALUE

I know price increases are never fun to see. But there is a positive side to all of this: The pieces you’ve bought from me (and other makers) aren’t just beautiful accessories anymore, they are real assets.

You silver jewellery holds genuine, intrinsic value that's steadily growing, unlike mass produced or costume jewellery.

With silver prices so high, there will be a temptation in the industry to cut corners. You’ll see more plated items (a thin layer of silver over base metal) being passed off as the real deal. Even some big brands such as Pandora are moving to switching some of their ranges from solid silver to platinum plating due to soaring silver prices. That is why it is more important than ever to be an informed buyer and to buy from trusted suppliers and to understand exactly what it is you are buying.

This is why I mention again the benefit of hallmarking. That little stamp on your jewellery - It’s your guarantee of purity and authenticity. It is the difference between a piece that lasts a lifetime and one that wears away after a few months. I hallmarked my pieces because I want you to know exactly what you’re paying for. I provide hallmarking as standard on a selection of my pieces and as an optional extra on others 

This is a good time to remind you of the benefit of hallmarked pieces - That’s the little stamp on your jewellery that isn’t just a legal requirement; it is your guarantee of purity and authenticity. It’s the difference between a piece that lasts a lifetime and one that doesn't.

You can read my full guide here: HALLMARKING

SUPPORTING YOUR FAVOURTIE MAKERS

It’s more important than ever to support your favourite silversmiths and goldsmiths and I am so grateful to everyone who has supported my business through these changes. When you choose to buy from an independent maker, you aren't just getting a product - you’re keeping the art of silversmithing alive.

Thank you for being part of this journey