Sterling Silver is an alloy comprising 92.5% pure Silver with 7.5% other metals, usually copper

 

Precious metal

Silver is classed as a precious metal - Sterling Silver being an alloy of Silver is classed as a 'precious metal alloy'.

From Wikipedia, the free encyclopedia, Text is available under the Creative Commons Attribution-ShareAlike License 

A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals tend to be less reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.

The best-known precious metals are the coinage metals, gold and silver. While both have industrial uses, they are better known for their uses in art, jewellery and coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded.[1]

The demand for precious metals is driven not only by their practical use but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals.

A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish. The status of a "precious" metal can also be determined by high demand or market value. Precious metals in bulk form are known as bullion and are traded on commodity markets. Bullion metals may be cast into ingots or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.

References

  1. Platinum Guild: Applications Beyond Expectation
  2. Gold prices ran around 940 USD in July 2009 according to Kitco Historical Gold Charts and Data. The USD to CAD exchange rate averaged 1.129 in July 2009 according to OANDA Historical Exchange Rates. Although the exact moment that the $1075 figure was determined is unknown, it may be considered a reasonable value for the time.
  3. http://www.e-allmoney.com/article/big_gold_coin.html
  4. UKBullion (2014). "100kg Fine Gold Coin". Retrieved 2014-03-18.
  5. Aluminum: Common Metal, Uncommon Past, Chemical Heritage NewsMagazine, Winter 2007/8, Vol.27, No.4
  6. Karmarsch, C. (1864). "Fernerer Beitrag zur Geschichte des Aluminiums". Polytechnisches Journal 171 (1): 49.
  7. George J. Binczewski (1995). "The Point of a Monument: A History of the Aluminum Cap of the Washington Monument". JOM 47 (11): 20–25. doi:10.1007/bf03221302.
  8. The abundance of the element, a measure for its rarity, is given in mass fraction as kg in the earth's crust (CRC Handbook). David R. Lide, ed. (2005). "Section 14, Geophysics, Astronomy, and Acoustics; Abundance of Elements in the Earth's Crust and in the Sea". CRC Handbook of Chemistry and Physics (85 ed.). Boca Raton, Florida: CRC Press.
  9. Mostly taken from London Metal Exchange.
  10. From the http://www.thebulliondesk.com/
  11. The metal Price ($/kg)s of gallium, germanium, and indium are taken from MinorMetals.com as examples of modern precious metals used for investment / speculation.
  12. Tolcin A. (2012) U.S. Geological Survey Mineral Commodity Summaries 2012.

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