Silver comes in various forms, the most common being sterling silver. So before you sell silver Bullion Brisbane, it is important to know if your silver can be classified as precious metal silver or just silver. Silver has a purity of 99.9%, but sterling silver is composed of 92.5% pure silver. Other metals such as copper or nickel remain.
Sterling silver is usually used to make high-end silver products and jewellery.
Silver is soft and malleable. It is easy to shape, so additional metals are added to the silver to make it more durable. Sterling silver dates back to the 13th century. It was first manufactured and used in England. Alloys, as mentioned earlier, have a purity of 99.9% and are sometimes called fine silver.
Silver is used more than just to make jewellery, tableware, and silver coins, for example:
- Silver lines are located on the rear windows of cars to melt frost and ice that collects on the window.
- Silver is also used in appliances, art, electronics, art, photography, mirrors, and printed circuit boards.
- A compound known as silver nitrate is used in photography. This compound makes the celluloid film sensitive to light. In the USA, 30% of industrial silver, such as the silver nitrate compound, is consumed every year. Reports indicate that almost 9,000 metric tons are used in the photographic industry. That’s almost half the silver that is mined each year.
- Just over 20 billion ounces. It is used in one form or another.
- Silver is used in solar panels as more and more people become more environmentally friendly, and are switching to solar energy.
- The use of this metal extends to electrical circuits and batteries. It has become a very important metal in the manufacturing of electric vehicles and as the world works hard at reducing carbon emissions from cars and more manufacturers are creating electric cars, the consumption of silver has grown.
- Due to its antibacterial properties, it is used in medical devices such as hearing aids and pacemakers.
- Silver is so reflective that in the past this precious metal was used behind mirrors. Today, aluminum is used instead of silver.
Other interesting factors that make silver exceptional:
- You can press a grain of silver into a thin sheet that is more than 100 times thinner than a plain sheet of paper.
- Aircraft manufacturers use silver bearings in jet engines for a high level of safety.
- Silver is actually harder than its richer cousin, gold, but is softer than copper.
- There are more patents on silver than there are patents on all other metals combined.
With all these uses, much of the industrial silver used is permanently lost. Silver is a precious metal. It is available in limited amounts. This is one of the reasons why it is a valuable asset to own, especially when it is in its purest form like in the form of coins or bars. That is why there is always a precious metal dealer who is looking for anyone who want to sell silver bullion Brisbane because the increase in the demand for this precious metal means the price movements of silver in the market can only be positive if the supply doesn’t pick up.