MoneyIs your jeweller’s price fair?
Enter what the shop is charging and we’ll compare it against the indicative metal value plus a normal making-charge range, so you know if you’re being over-charged.
Old silver exchange / resale value
Selling or exchanging old jewellery? Jewellers pay for the metal content only (minus a deduction for melting/testing) — not the making charges you originally paid.
Compare the same purchase across cities
Includes 3% GST. City differences reflect the regional retail premium jewellers apply; making charges vary by design and jeweller.
How the silver price is calculated in India
The final price you pay for silver jewellery has four parts:
- Metal value = today’s per-gram rate for the chosen purity × weight in grams. 22K gold is 91.6% of the 24K rate; 18K is 75%.
- Making (wastage) charges — either a percentage of the metal value (commonly 8–25%) or a flat rate per gram. Intricate and machine-made pieces cost more.
- GST at 3% on the metal value plus making charges.
- Hallmarking — a small fixed BIS charge per piece.
Formula: Final price = (rate/g × weight) + making charges + 3% GST + hallmarking
Frequently asked questions
What is the silver calculation formula in India?
Final price = (per-gram rate for your purity × weight in grams) + making charges + 3% GST + a small hallmarking fee. For 22K gold the per-gram rate is 91.6% of the 24K rate; for 18K it is 75%.
Is GST included in the silver rate?
The headline rate is the metal value only. GST of 3% is added on the metal value plus making charges at billing. The calculator on this page shows both the pre-tax and final figure.
How are silver making charges calculated?
Making charges are either a percentage of the metal value (typically 8–25%, higher for detailed work) or a flat amount per gram. Coins and plain bars have the lowest charges; hand-crafted jewellery the highest. Always ask for the making basis in writing.
What will I get for my old silver jewellery?
A jeweller pays for the metal content only, at today’s rate for its actual purity, minus a deduction of roughly 3–10% for melting and assaying. You do not recover the making charges or GST from the original purchase. Use the old-silver tool above for an estimate.