Silver Rate Calculator: What Your Silver Will Cost
The full bill for silver jewellery, coins or utensils: the silver at today's rate for its purity, making charges and 3% GST, and what it fetches when sold.
A silver bill = silver value + making charges + 3% GST on both. Example: 100 grams of 925 sterling silver when fine (999) silver is ₹180 a gram and making is 10%: the silver is ₹16,650, making ₹1,665, GST ₹549, total ₹18,864. Silver is usually quoted per kilogram: ₹1,80,000 a kg is ₹180 a gram.
The words on this page, explained simply
New to this? Here is what each term means, in plain English.
- Sterling silver (925)
- Silver that is 92.5% pure, with copper added to make it hard enough for jewellery. It is priced at 0.925 of the fine (999) silver rate: at ₹180 a gram for fine silver, sterling is ₹166.50.
- Making charges
- What a jeweller charges for turning gold into jewellery, on top of the price of the gold. It changes with the design and the jeweller, so ask before you buy.
- GST on gold
- 3% on gold, coins and jewellery, charged on the whole bill including making charges: ₹3,000 on a ₹1 lakh bill. No GST when you, as an individual, sell your old gold.
Silver is priced by weight and purity, like gold. Shops quote fine (999) silver per kilogram; jewellery is often 925 sterling, which is 92.5% silver. The calculator converts the rate to the purity you are buying, adds the making charge and GST, and shows what the same silver would fetch if sold back.
How a silver bill is worked out
1. Silver value = weight in grams × the fine-silver rate a gram × purity. 925 sterling is the 999 rate × 0.925.
2. Making charges, as a percentage of the silver value or a fixed amount per gram. On light jewellery they can be a large part of the bill.
3. GST at 3% on the total, the same rate as gold, making charges included.
| Purity (100 grams) | Silver value | Bill with 10% making and 3% GST |
|---|---|---|
| Fine silver (999) | ₹18,000 | ₹20,394 |
| Sterling (925) | ₹16,650 | ₹18,864 |
| 900 | ₹16,200 | ₹18,355 |
| 800 | ₹14,400 | ₹16,315 |
Example at ₹180 a gram (₹1.8 lakh a kg) for fine silver.
Selling silver
A buyer pays for the silver content at the day's rate, less any deduction for melting and testing. Making charges and GST are lost. No GST is charged when an individual sells old silver.
Ask for a purity test before selling pieces without a purity mark.
Key takeaways
- Bill = silver value + making + 3% GST on both.
- 925 sterling = 999 rate × 0.925; ₹ per kg ÷ 1,000 = ₹ per gram.
- On resale you get the silver content only.
Frequently asked questions
How do I calculate the price of silver jewellery?
Weight × the fine-silver rate a gram × purity (0.925 for sterling), plus making charges, plus 3% GST on the total.
How much GST is charged on silver?
3% on silver, silver coins and jewellery, on the full bill including making charges.
How do I convert the silver rate per kg to per gram?
Divide by 1,000: ₹1,80,000 a kg is ₹180 a gram.
What is 925 silver?
Sterling silver: 92.5% silver and 7.5% other metals, usually copper, which makes it harder for jewellery.