On May 4th this year, the state enforced the Regulations and Naming Methods for Precious Metals in Jewelry, and made new regulations on the purity of gold, platinum, palladium and silver. When the purity reaches 990‰, it is all expressed by pure gold, enough platinum, enough palladium and enough silver. Even the silver bracelets with silver contents of 999/ 1000 and 9999/ 10000 can only be collectively referred to as "foot silver bracelets". Some merchants secretly advertise that they exchange the same products for higher prices.
There is no difference between a thousands of feet of silver and a foot of silver. Director Zhang of the National Quality Inspection Center for Gold, Silver and Products (Changchun) said. The newly promulgated Regulations and Naming Methods for Precious Metals in Jewelry do not restrict high-content products such as "Qianzuyin". Enterprises can still express the precious metal content of products to consumers through their own standards.
However, according to the national regulations on the naming of precious metals, "thousands of feet Silver" is the highest purity of the national standard for silver jewelry, and there is no relevant regulation of "ten-foot silver" in the standard. With the accuracy of existing instruments, even if the purity reaches 99.99%, it is difficult for general testing institutions to detect it. "Wanzuyin" is actually a loophole in the national standard and has no practical significance.
Extended data
According to professionals, according to the new purity regulation and naming method of precious metal jewelry, as long as the purity of precious metal jewelry on the market reaches 990%, it is collectively called "pure gold" and "all silver", and the previous name of "thousand gold" is no longer used. The so-called "thousands of feet Silver" and "10,000-foot Silver" are not much different, just a gimmick for businesses to make profits.
Even the silver bracelets with silver contents of 999/ 1000 and 9999/ 10000 can only be collectively referred to as "foot silver bracelets". Some merchants secretly advertise that they exchange the same products for higher prices.
The industry is not optimistic about silver jewelry investment.
The investment attribute of silver is getting weaker and weaker. The person in charge of a jewelry store said that the cost of silver is very low in the retail price, and the charm of silver jewelry is far less than that of gold jewelry. The cost of small pieces of silver jewelry mainly lies in the manual cost, and the proportion of raw materials is very small. Take a 20g "Qianzuyin" bracelet with a price tag of 400 yuan as an example, which reaches 20 yuan/gram, but according to the spot price of 4.07 yuan/gram on September 12, the raw materials only account for one fifth of the selling price.
References:
Phoenix Net-What kind of silver is "Wanzu Silver"?