Comments | metalsmiths: The appalling price of precious metal

skeletoncrew in metalsmiths

The appalling price of precious metal

Feb 02, 2006 13:34

I've been watching the prices of gold and silver for years. Partially out of curiousity, partially out of necessity. When gold passed $400 last year I was dismayed, now that I am getting ready to make my wedding band, it is approaching $500 an ounce. Silver is approaching $10.00 an ounce. It doesn't look like prices are going to go down any time ( Read more... )

prices, gold, silver

Comments 6

(The comment has been removed)

skeletoncrew February 3 2006, 00:59:08 UTC

I started working in gold last summer and at that time I combed all my old jewelry for things I was willing to melt down. I then purchased an equal amount of new gold of the same karat weight. I feel like that was a good way to get a bit to start learning on, but now if I want to continue and expand my repetoire in gold...well, I only had so much to melt down ( ... )

(The comment has been removed)

josphin February 3 2006, 02:48:29 UTC

when bakelight(a new form of plastic in the 20's-30's..i think i've got the name right) came out it was used ALOT in jewelry, and was a big rage during art deco and what not, but then people started realizing it was just plastic, and it was so commen, and apperant in everyday life the jewelry made out of plastic started seeming cheasy...times change alot

Thread 5

a blacksmiths 2cents josphin February 3 2006, 02:43:24 UTC

the price increase doesn't seem as drastic as the gold and silver does, but steel prices have gone up a fair bit too, i few years ago i could get a sheet of 16ga mild steel for about $80-90, now it's some where around $120, just the other day i bought some 1inche sqaure stock that was something like $2.80ish a foot, around $30 for a ten foot length...prices going up sucks...and not done so, but know some people that are about to delve into getting some stainless steel and other fancy materials, fear of the price for that sorta stuff keeps me away, i'll stick to relativly cheap mild steel.

cissa February 3 2006, 16:29:21 UTC

I'm lucky in that I have a reasonable amount of silver from when it was cheaper- although never quite the right gauge, of course, which is why I ended up buying more recently. (Yes, I could roll down etc., but I don't want to spend the time- besides, then I'd just need to get more of the thicker...) Gold, though- ouch. I'm planning on just buying as needed, and hoping to turn it around quickly.

I did add a cost-of-metal bit to a recent contract for 20 pretty large pieces over a span of time, and am glad I did- between estimating and signing the contract, the silver had jumped up $8 for each piece!

I'm also considering not over-building pieces quite so much! :)

Still, in the overall scheme of things, the silver for my silver work is pretty modest in cost compared to my labor. I plan on making sure the price covers my costs and reflects the current market, and doubt it'll make a huge difference in the end result.

gidget23 February 4 2006, 04:04:37 UTC

I'm addressing it by only buying what I need right now rather than stocking up. And I'm finally preparing my first round of metal to send in for refining, figuring I'm better off paying the refining fee now than waiting and having metal go down again.

My recent commission that included gold has left me with a fair bit left over, though it's 18k 26g bezel strip, so I'm not sure whether I should try to design something using it as is or to reform it into something more usable.