Fine Silver is a metal alloy comprised of 99.9% silver and less than 0.1% of other metals by weight. This is established by the sterling silver standard where the millesimal fineness has a minimum of 999. This is in contrast to Sterling Silver which is 92.5% pure silver.
| Current SPOT USD | ($/gram) | ($/troy_oz) | |
| Gold | $84.473 | $2627.4 | |
| Platinum | $31.025 | $964.99 | |
| Palladium | $32.665 | $1016.0 | |
| Silver | $0.993 | $30.89 |
The Value of Silver Alloy is four step process:
The result is the price that can be given to the seller of the metal while paying the refiner and making the profit identified.
The weight can be in Troy ounces, pennyweight or grams. vCalc converts the weight into Troy Ounces and then fetches the current spot price for an ounce of silver. It then multiplies the weight of the pure silver content against the spot price and scrap discount percentage to give the silver's value. discount(scrap) = 1 - scrap
Note: scrap free and profit are both a percentage.