Tuesday, January 29, 2013

Cost of gold and silver wire

I decided to compare the price for gold and silver over a ten-year span.  It is very surprising and depressing all at the same time. This is because everyone wants jewelry at a lower price (can't blame them with this economy) but the cost of the wire I use in my jewelry pieces has increased by the following amount:

Gold: Increased by 450%:  It went from $368.40 to $1652.90
Silver: Increased by 650%:  It went from $4.80 to $30.77

What does that mean for me, a wire jewelry artist? That means if I bought an inch of gold filled wire ten years ago it would have cost me 6 cents.  Today the same inch of wire costs me 28 cents! A simple wire sculpted pendant uses approximately 48 inches of wire.  Ten years ago it would have cost $2.88.  Today that same 48 inches of wire cost $13.44!

I hope everyone understands better why the price of jewelry has increased.

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