Demand Driven Costs

Demand Driven Costs

Every year, 650 million ounces of silver gets mined from countries like Canada, Australia,

Mexico, Peru, and the United States, with more coming from scrap recycling and investor

trading. In 2001, 24% of the silver was used in photography, while 33% was used in jewelry,

40% for industrial uses, and only 3% for coins and medals. Within these categories, silver

is used in a myriad of ways; from circuits in electronics, as anti-bacterial treatments in

medicine, and is even sprinkled on food as decoration.

As a result of this supply and demand from competing industries, the last century has seen

tremendous fluctuations in the price of silver. Prices saw an all-time high in 1980, when

it reached $49.45 U.S. dollars per Troy ounce.

While less expensive than gold and platinum, jewelry pieces made from silver still sell for

a high premium on the market. The first cost associated with sterling silver jewelry is the

cost of silver. The current cost per ounce is around $16.00 U.S. dollars, having risen

sharply in the past few years. The base cost of the metal used is usually only a fraction

of the costs that go into creating and delivery a piece of jewelry to the end customer.
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Orignal From: Demand Driven Costs