Silver Jewelry has the Highest Margins Compared to Other Precious Metals According to Recent Survey

(Washington, DC – May 21) With global silver jewelry consumption on the rise, the Silver Institute commissioned a survey of U.S. jewelry retailers to gauge their view of the silver jewelry market in 2024. The results indicate that silver jewelry still holds a strong position as a leading merchandise category in the U.S. retail market. The survey showed that silver jewelry sales continued to deliver results for U.S. jewelry retailers, with 53% reporting marginally increased sales over the last  survey, which studied the 2022 market.

Highlights from the survey include:

Silver experienced the best maintained margins for the Holiday Season: 

• 71% of retailers said they increased their silver jewelry inventory in 2024 by an average of 15%. This represents a 10% growth over the last survey, at 61% in 2022.

• Retailers said their silver jewelry sales, as a percentage of their overall jewelry sales, averaged 31% of unit volume. In 2022, this category was 28%.

• The average store growth for silver jewelry sales was 20% in 2024, vs. 14% in 2022.

Most important reasons customers bought silver jewelry in 2024:

• According to the retailers surveyed, the age groups buying the most silver jewelry are 20-40, followed by 41-50. Female self-purchase is the best-selling opportunity for silver.

• 83% said silver jewelry is essential to their business. In 2022, this figure was 88%.

• 92% of retailers say they are optimistic that silver jewelry sales will continue to grow for the next several years. In 2022, it was 88%.

“Silver jewelry offers the consumer many options at a price point that is friendly to the wallet. Interest in big and bold silver jewelry with increasingly stylish designs is leading many consumers to choose silver jewelry,” stated Michael DiRienzo, President and CEO of the Silver Institute.

The complete survey results can be downloaded here: 2024 Silver Jewelry Survey Results.

The survey was conducted online by The Jewelers Collective (TJC), a leading jewelry trade magazine, from February 11 to March 28, 2025. The survey was distributed to jewelry retailers and TJC subscribers.

This was the 14th time the Silver Institute commissioned such a survey.

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The Silver Institute is the silver industry’s primary voice in expanding public awareness of silver’s essential role in today’s world. Its mandates are to provide the global market with reliable statistics and information on silver and to create and execute programs that help drive silver demand. For more information on silver, including its use in the green economy, please visit www.silverinstitute.org.