In this guide, we have discussed the best paying jobs in precious metals, including other important information.
Precious metals are natural resources found deep down the earth’s surface. Precious metals workers are specialists who work in several industries. They are specialists who work in the blacksmithing, jewellery, and mining industries.
Beneath the surface of our planet are countless precious metals such as gold, silver, rhenium, ruthenium, rhodium, platinum, etc. These precious metals are processed and used for different purposes.
If the other precious metals are strange to you, I believe you are familiar with gold and silver. You must have seen a piece of gold jewellery, perhaps a gold watch, necklace, earrings, ring or gold bracelet.
Expensive jewellery is usually made of precious metals and some earn good money working in the industry. So this is what we want to look at in this guide.
If you have been wondering what are the best paying jobs in precious metals, read this article to find out.
What are Precious Metals?
The earth is blessed with countless natural resources buried beneath the surface. Precious metals are rare chemical elements found in nature and can be challenging to extract.
These precious metals have high economic value because they are scarce and can be used for different purposes. Throughout history, gold and silver have been precious commodities.
The three precious metals we are all familiar with are gold, silver, and platinum. However, there are other precious metals such as ruthenium, rhodium, iridium, osmium, and palladium. These are all precious metals beneath the surface of the earth.
Rare metallic elements that we are all familiar with include gold, silver, and platinum. These precious metals have served different economic purposes throughout history. Before banknotes were in circulation in countries around the world, gold and silver were valuable and used by people to trade.
They are still valuable today and are used as investments.
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What Does a Precious Metal Worker Do?
A precious metal worker is someone who works with precious metals. They are specialists who work in several industries such as blacksmithing, jewellery, antique restoration, and mining.
Jobs in the Precious Metal Industry
Throughout history, these precious metals have been mined by workers. So you can say that the precious metals jobs have been around for quite some time now.
Although there is no high demand for workers in the precious metal industry, that doesn’t mean there are no jobs available in the industry.
Well, here are some of the jobs in the precious metal industry.
- Precious metal worker
- Precious metal broker
- Quality control specialist
- Metals production specialist
- Precious metals advisor
- Jewellery and coin specialist
- Jewellery salesman, designer, or appraiser
How Many Precious Metals Jobs are Available in the Industry?
In the United States, there are about 32,000 precious metal workers employed in the industry. According to statistics, the 32,000 precious workers account for 0.02% of employment in the United States.
The precious metal industry is not projected to show any improvement in the next decade. The U.S Bureau of Labour Statistics predicts about 3,800 job openings per year for precious metal workers from 2020 to 2030.
Education Requirements for Jobs in the Precious Metal Industry
There are always basic requirements for jobs and the precious metal industry has its specific requirements for available jobs.
Most entry-level jobs in the precious metal industry require a high school diploma or equivalent. Although there are several training programs as well as degrees that you can easily complete.
However, if you are searching for the best paying jobs in precious metals, you something more than a high school diploma. To get the best paying jobs in the precious metals industry, you must have a college degree or additional accreditation.
A high school diploma can only get you entry-level jobs in the industry, but if you want jobs with good paychecks, a college degree, experience and accreditation are required.
15 Best Paying Jobs in Precious Metals
Precious metals mining is an industry with several job opportunities. A few of the most common positions in the industry include engineers, miners, equipment operators, and geologists.
These job positions are not the only ones available in the precious metals industry. Some jobs pay more and we have listed some of them.
#1. A Jewellery and Coin Specialist
A jewellery and coin specialist is the first on our list of the best paying jobs in precious metals. On average, a jewellery and coin specialist earns an annual salary of $70,000. So what is the job of a jewellery and coin specialist?
A jewellery and coin specialist is an expert who provides accurate evaluation and rewards. Their job includes testing, purchasing, and selling precious metals, coins, and currency.
This is one of the jobs available in the precious metals industry and with an annual salary of over sixty thousand dollars, it’s among the best paying jobs in the industry.
#2. Jewellery Designer
A jewellery designer is an individual with the skills to design precious metals. Jewellery designers can sketch designs to create necklaces, rings and other items with precious metals.
Arguably, becoming a jewellery designer requires a high level of skill and creativity. It’s a job that requires paying attention to little details.
The annual salary of a jewellery designer in the United States is about $50,000.
Most jobs in the precious metals industry require skills and creativity. Presently, about 80% of the gold that is newly mined or recycled is used to make jewellery.
Sine 80% of gold is used in jewellery manufacture, the demand for jewellers in the industry will be high. So what is the job of a jeweller?
A jeweller is an individual who makes earrings, rings, necklaces, and bracelets with gems and other precious stones. A jeweller can also clean, fix, and adjust precious metals or gems.
Next on our list of the best paying jobs in precious metals is a miner. These precious metals are buried beneath the earth’s surface and must be excavated and processed.
A miner is an individual who excavates natural minerals from the earth’s surface by mining. This is the most important job in the precious metals industry. Miners are the workers who extract these precious metals before they are processed.
Their job includes blasting, cutting and using other methods to remove the rock. Mining is one of the industries with high-paying jobs.
Although mining is a risky occupation, with dangers ranging from inhalation of harmful particles to mine collapse, it’s one of the best paying jobs in precious metals. A miner’s annual salary ranges from $50,000 to $60,000.
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Lapidaries are experts who specialize in working with precious metals. Their job includes polishing, cutting, and shaping precious stones and minerals into jewellery.
A lapidary may specialize in a particular type of stone. For instance, a cabochon cutter may specialize in working with a particular type of semiprecious stones just to produce unique products.
If you are interested to establish a career in the lapidary profession, you can earn good money. The annual salary of a lapidary in the U.S is about $35,000.
If you are interested in working with precious metals, then you should consider a career in gemology. A gemmologist is an expert who studies the properties of precious stones and how these stones are mined and polished.
A gemmologist also analyses the value of gems. They can easily tell if a gem is real or fake.
If you are interested to establish a career in gemmology, you must have an associate’s or bachelor’s degree in physics, geology, or engineering.
#7. An Analyst in Precious Metals Operations
Getting involved with this job position is an opportunity to study and provide assistance in precious metals activities. The job of an analyst in precious metals operations includes studying precious metals, as well as the processes involved.
The precious metal industry is huge and has several job opportunities available for job seekers.
#8. Jewellery Sales
Jewellery sales make it to our list of best paying jobs in precious metals.
Generally, a jewellery salesperson is someone who assists clients find their preferred jewellery. When you walk into a jewellery shop to purchase items, a jewellery salesperson will be available to assist you to find that ring, bracelet, earring, or necklace.
If you are interested to become a jewellery salesperson, part of your job will include selling jewellery, assisting clients, and maintaining the jewellery store.
As a jewellery salesperson, you must have an extensive understanding of several gemstones and precious metals.
#9. Precious Metals Advisor or Consultant
A precious metal consultant is an expert with vast knowledge of precious metals. They also advise individuals and business owners on precious metals.
Generally, this is one of the best paying jobs in precious metals. The average annual salary of a precious metals advisor or consultant is about $80,000.
#10. Metals and Steel Production Specialists
A specialist in steel production is an expert with the ability to conduct important studies and formulate requirements for production technological processes.
#11. Quality Control Specialist
In any production company, a quality control specialist is responsible to check if a product meets the company’s standard of quality. So this is pretty much what a quality control specialist does.
In precious metals, a quality control specialist is responsible for supporting process improvement product tests, and assessments. A quality control specialist can also make repairs, find out product defects, and report issues.
#12. Precious Metal Broker
Precious metal brokers are regarded as second-hand dealers. Their job includes purchasing new or used precious metals and then resale them.
Precious metal brokers can also estimate the value of an item based on the retail price or market value of the item.
#13. Jewellery Repair
The jewellery repair industry is a lucrative and thriving industry with many opportunities.
Jewellery repair is one of the most rewarding careers with financial benefits. Generally, there are various aspects to jewellery repair, from simple repairs such as replacing a broken clasp to resetting a diamond.
#14. Jewellery Sales Manager
Jewellery sales managers are in charge of the sales process. Their job is similar to that of a jewellery salesperson.
A jewellery sales manager is an individual that works closely with clients. Their job is to help clients identify their needs and they also create a sales strategy to bring in those needs.
#15. Jewellery Appraisal
Jewellery appraisal completes our list of best paying jobs in precious metals.
A professional appraisal should be able to give an accurate estimate of the value of jewellery, whether is gold, silver, gems or diamond.
Also Read: How Many Nickels Make a Dollar? All you need to know
Is Precious Metals a Good Career Path?
If you wish to get the best paying jobs in the precious metals industry, a specialized skill is required. Precious metal is a good career path with several job opportunities and good paychecks.
To get the best paying jobs in the industry, you need an associate’s or a bachelor’s degree. You can also acquire skills and knowledge by taking courses or participating in an apprenticeship in areas that interest you.
Frequently Asked Questions
Below are frequently asked questions about the best paying jobs in precious metals.
How much do precious metals trades make in a year?
On average, a precious metal trader makes up to $100,000 in a year. On the other hand, the amount earned by specific traders depends on the skill level, as well as trading frequency and value of products.
What job works with precious metals and stones?
The two most common jobs that work with precious metals and stones are precious metals workers and jewellery designers.
What are the most used precious metals in the industry?
Gold, silver and palladium are the three most common precious metals used in the industry.
Beneath the earth’s surfaces are precious metals and stones, some we are familiar with and some are new to us.
The precious metals industry has some high-paying jobs and they are requirements to get these jobs. If you have an associate’s or bachelor’s degree, you will likely get the best paying jobs in precious metals.
We hope this article on high-paying jobs in precious metals was helpful.
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