Hallmarks first came into being when reputed craftsmen such as gold and silver smiths placed a distinguishing mark on their products to denote that they had made it and that it was up to their standard. A gold platter with the mark of a reputed craftsman would be worth more than a similar piece without such a mark because the value of the marked piece was guaranteed by the maker. Obviously the greater the reputation of the craftsman, the more value the hallmark was given.

Over time, the craftsmen formed themselves into guilds or unions. And these guilds took over the tasks of marking the products made by their members or allowed their members to place the marks of the guild they belonged to on what they produced. Thus a member of the goldsmith’s guild could place the common mark of his guild on everything her produces. This signified that his products met the standards of the guild. Since the guilds held their meeting in large halls, the mark that the members were authorized to use was known as a hallmark.

In time, the responsibility of certifying the purity of precious metals was given to independent bodies known as assay offices. The word assay means to test and the institutions test the purity of precious metals and certify them so that the consumer knows what he is buying and can not be cheated by being sold impure metals and alloys under the guise of pure metals.

This practice continues today. A common mistake people often make is confusing the trademarks and hallmarks. Trademarks are the sign of the party that has made the object so its origin is known. Hallmarks are the sign of the purity of the metal used in the manufacture. In all countries with a formal hallmarking scheme the manufacturer is first required to certify the purity of the metal used. The object is then assayed to confirm that it is as pure as is stated and only then is the hall mark applied.

The terms sterling has come to mean good or pure as in a reference to a person’s “sterling qualities.” The origins of this phrase are obviously from the valuable and decorative alloy. But how exactly the term “sterling silver” came into being has been lost in time. However, there are three theories about its origin, none proven and each having its own adherents.

The first, and perhaps most plausible, theory is that the terms comes from “Easterling Silver” which was the currency of a part of Germany in the 13^th century. This region, known as the Easterling was engaged in a great deal of trade with Britain. The payment for British produce was made in the German currency of 92.5% pure silver coins. The purity and the accurate size and value of these coins were greatly respected by the British who soon adopted the standards of the currency of the Easterlings as their own. Easterlings soon became Sterling with local use.

The second theory is that the name comes from a bird. Ancient British coins often had images of birds engraved on them. It is thought that a popular silver coin could have borne the image of a Starling. It is possible that the coins were know by the names of the images they carried and so this coin would have been known as a Starling or Sterling since the origin British spelling of starling was “Stearling.”

The last theory is based on the fact that in the early 18^th century, a rich deposit of silver was discovered in a part of Scotland then known as “Sterlingshire.” This was the largest deposit of silver in the British Isles and contained more mercury than silver found in other places. It is thought that it became known as Sterling Silver to differentiate it from silver with different compositions.

Whatever its origins, the term sterling silver; today stands for metal of strength, purity and value.

Pure silver, also referred to as fine silver, is a very soft metal and being so ductile and malleable cannot be used for the production of any items that have a functional purpose or are under stress or pressure. Under these conditions pure silver objects will lose their shape and structural integrity. Pure silver is most used for making fine jewelry where its softness is an advantage when fine workmanship is required.

Large silver items are usually made using silver alloyed with other metals like copper or titanium which provide the alloy with strength and rigidity. Since sterling silver must have 92.5% pure silver, it is strong yet ductile enough for shaping into intricate pieces of cutlery and so on.

While the silver content of sterling silver remains fixed, the other metals used to make the alloy may vary so that the alloy is best suited for a specific application. This may include using metals that will increase the resistance to tarnishing, eliminate firescale and even reduce casting porosity. Among the metals most often used to create the alloy are platinum, zinc and germanium. Additive are sometimes added to the alloy when the final application requires it. Sterling silver containing silicon and boron are common.

Irrespective of the other metal used to create the alloy, sterling silver is valued on the basis of its fixed silver content of 92.5% and the other components of the alloy are not taken into account. Sterling silver will always be sterling silver even if the 7.5% is made up of tin or the basest of metals.

A lot of development is being done on sterling silver, and experiments using a variety of other metals and compounds are constantly being tried. However, as of now copper is still the most common other metal used to make the alloy.

What is a Silver Eagle?

An American Silver Eagle is a silver bullion coin.  It contains one troy ounce of pure .999 fine silver.  The silver content and weight is guaranteed by the United States Government – no other silver coin can make that claim.  When you buy a Silver Eagle, there’s no need to worry about the authenticity – you’re buying 1 troy oz of pure silver, period.  Counterfeits are unlikely to be about – remember, this is a US coin.  Any counterfeiters would have to face the wrath of the US Secret Service.

How can I buy Silver Eagles?

You can purchase Silver Eagles individually, or by the tube.  Twenty eagles come in a single tube – so that’s twenty ounces of silver.  When figuring the price for Silver Eagles, take the spot price of silver and add a dealer premium.  These days, premiums on Silver Eagles are in the $2.50 – $3 per ounce range.  Given the beauty of the coins, and guaranteed silver purity and content, that’s not horribly unreasonable.  There are less expensive options out there, if you’re looking to get the most silver for your buck.

Most coin dealers will have at least a small stock of Silver Eagles.  If you prefer to purchase online, there are dozens of places to buy.  Some of my favorties are APMEX, Bullion Direct, and Kitco.  If quantity is your thing, I understand the Tulving has some great volume pricing.  His minimum order is 100 ounces though, so don’t think you can get the volume discount on a couple Eagles.

Silver Eagles are Legal Tender

Each and every Silver Eagle is legal tender – meaning you can use it to purchase goods and services, just like you would use that green stuff in your wallet.  The fact value is $1, meaning it’s just as good as a $1 bill or Presidential dollar coin.  However, you wouldn’t actually use a Silver Eagle to purchase a soda.  Today’s going rate for an Eagle is somewhere around the $15.50-$16.00 range.  So even though you wouldn’t use it like cash, it’s great to know you can.  At the very worst, this coin will always be worth at least one dollar.