Britannia Silver Price and Its Significance
According to latest updates from All Gems and Jewelers Association of Pakistan and local markets, Britannia silver price stands at RS.256per gram in Pakistan following the gold rates in Pakistan. Significance of aforementioned metal and detailed price chart is given bellow,
Britannia Silver Price in Pakistan Today October 5, 2024
| Silver Type | Rate per Gram | Rate per 10 Grams | Rate per Tola | Rate per Ounce | Rate per Troy Ounce | Rate per Kilogram |
|---|---|---|---|---|---|---|
| 958 Silver | 256 | 2,560 | 2,982 | 7,258 | 7,962 | 256,000 |
Britannia Silver – An Overview of History
It is a type of silver which was first introduced and regulated in Britain by the English Parliament in 1697 considering the concerns about sterling silver quality and purity. Sterling silver contains 92.5% pure silver and 7.5% copper as an alloy. Britannia Silver contains 95.8% pure silver and 4.2% alloy consists of copper normally.
Britannia silver which is also recognized as 958 Silver replaced the standard of sterling silver ensuring high quality and purity and has retained its glory in the making of fine silverware and other luxury items.
How to Identify Britannia Silver?
There are specific symbols stamped on the metal which are called hallmarks to identify Britannia silver. Iconic symbols or hallmarks are normally of a seated or standing figure of Britannia, usually a female figure holding a shield or trident in addition with this identifying marks of the maker and assay office and date of manufacturing. The 958 number which is resembling metal’s level of purity is also considered the identification. These hallmarks of the metal guarantee its quality and purity.
With understanding of the hallmarks system and consulting proper referencing guides, someone can identify the Britannia silver items. When you are going to deal in this type of silver then you must look for clear and well defined hallmarks or in case of uncertainty you should consult with experts in the market. Remarkable examples of hallmarks include those from famous silversmiths like Paul Storr, Hester Batemen and Mathew Boulten.
Uses of 958 Silver
Due to its purity and durability it is utilized in multiple industries like jewelry making keeping in view its aesthetic appeal and cultural richness. It is used in investment grade coin and bullion minting considering its significant potential for investment. It is also used in tableware production considering its historic and cultural significance.
Its higher silver content makes it tarnish resistant and alloy makes it durable metal to be used in the items which are going to be used frequently i.e. jewelry, tableware and coins. Its softness and durability enables craftsmen to create artistic designs and durable products.
Factors Influencing Britannia Silver Price
Just like fine silver and sterling silver, Britannia silver price is also influenced by multiple factors. Geopolitical conditions in the country, international market trend, USD rate, and Inflation rate in the country, Supply and demand, Oil Pricing and investor sentiments are the factors which play a pivotal role in the pricing of silver over all. If you intend to have in depth insight about the factor affecting silver price then click on the given link.
