Many of you have seen silversmiths expressing concerns about the rising cost of silver. To put it in perspective, silver has increased 127% since the beginning of last year, with a 40% jump in December alone. I recently had a reel go viral about this, which sparked a lot of interesting discussion and, frankly, some pretty harsh comments. A few people even accused metalsmiths of price gouging. (Huh?)
While those conversations can be frustrating, I’m choosing to stay grounded and positive. Instead of panicking, I want to share five ways I’m adapting to rising silver prices and continuing to do the work I love.
1. Staying Calm and Positive
It’s easy to spiral when material costs rise so dramatically. At worst, it can make you question whether you can keep doing this work at all. But like life, silver prices ebb and flow. I’m choosing to roll with the punches and continue practicing this craft until it truly no longer makes sense. That’s just part of being a small business owner and part of life.
2. Rethinking Silver
Silver may continue to rise, and with that comes a shift in how we think about it. I believe silver jewelry will increasingly be viewed as an investment, much like gold. My hope is that consumers begin to see silver pieces not just as accessories, but as valuable, lasting objects that are worth their cost as the material itself appreciates.
3. Working With Brass and New Materials
To continue offering affordable, high-quality jewelry, I’m investing more in brass and plan to release additional brass pieces. Brass is a beautiful material that still holds durability and quality, and it allows me to keep creating accessible designs.
I’m also excited to incorporate more beads into my work. Learning new techniques and experimenting with different materials helps me grow as an artist and continue creating unique, meaningful pieces.
4. Raising Prices When Necessary
This is the hardest part. I truly dislike raising prices, but it’s important to honor both my time and the rising cost of materials. When necessary, I will make small adjustments — only enough to keep my business sustainable. My goal has never been to maximize profit, but simply to keep doing this work responsibly.
5. Pivoting My Business to Include Education
I’m a trained teacher, and I currently teach metalsmithing at a local community college, a job I absolutely love. One of the reasons I’m expanding into teaching my own workshops is because people will always want to learn something new or have a hands-on, creative experience.
During slower seasons, I plan to lean more into education as a way to diversify my income while sharing my skills and passion with others.
Rising silver prices are challenging, but they’re also pushing me to adapt, grow, and think creatively. Thank you for supporting handmade work, small businesses, and the artists who continue to show up, even when things get hard.