Precious metals are seen as luxurious, and because of this, there are many different job roles within this sector. This makes precious metals a good career path.
So long as people are still wanting to invest in precious metals, whether that is buying jewelry or wanting to know more about them, then there will always be careers involved in this industry.
With this in mind, let’s take a look at the highest paid precious metal jobs, as well as some other career paths within this niche.
What Exactly Is A Precious Metal?
A precious metal is a type of metal that has a high value. In a chemical sense, these kinds of metals are not as reactive compared to other types of metals. These are platinum, gold and silver.
Other types of precious metals include iridium, rhodium, palladium, and osmium. However, the list goes on!
Precious metals are rarer and considered to be a luxury. For this reason, jewelry is often more expensive when made from precious metals.
What Does A Precious Metal Industry Mean?
The precious metals industry is any job that works with precious metals. This could be a service or a product that handles precious metals to create a profit.
The one job people always think of is being a jeweler, but there are many other areas that profit from precious metals. In fact, the job market in this sector is very diverse – so much so that you are likely to find something that suits you.
However, the precious metals industry does not seem to expect very much growth within the next ten years. Even despite this, there always seems to be a high demand for precious metals, so it is still a good industry to be involved in.
How Can You Get A Job In Precious Metals?
Because there are many types of precious metal jobs, it is difficult to take one path towards the kind of precious metals job that you would like. However, usually there is no particular college degree needed, though you will still want to have some form of training under your belt.
The reason for this is because some precious metals jobs require you to take up an apprenticeship or go to a trade school. The training is very hands-on, which is a reason many people enjoy it.
You also will not need to spend years doing additional training and so on.
What Are Precious Metal Jobs?
Because there are many different types of precious metal jobs, let’s take a look at some of them in more detail:
A goldsmith works exclusively only with gold, whereas a jeweler (below) works with a wide variety of precious metals.
A goldsmith both creates and repairs gold items, which may include jewelry, cutlery, or even belt buckles. If it is gold, they likely repair it. This means you will need the skills to work with gold and to repair gold items.
Often chisels and hammers are used. Even so, you will need to have an eye for detail, as well as a love for gold.
A jeweler is a person who works with both precious metals and gems to create luxurious products such as necklaces, rings and earrings, among so much more. It is common to incorporate precious metals alongside rarer stones such as diamonds and emeralds (see also “What Is Masonry?“).
Making jewelry is very hands-on, and you will need a business background as well as an eye for design. To get into this type of job you will often need to work as an apprentice first where you will pick up the knowledge and skills needed.
However, you can also aim to run a jewelry store where you will not need skills to create the actual pieces. Although, it does help to understand how things are put together.
A miner is the person who extracts precious metals and gems from underground. There are many different types of jobs available in this field, from being an actual miner, to being a plant technician or engineer.
An engraver is a very niche kind of job within the precious metals industry. The only focus within this career is etching pictures, patterns and words into metal.
Many of those who are classed as engravers work alongside jewelers. The reason for this is because people often like to get things like rings engraved for special occasions. However, they also engrave on the likes of trophies and identification plates.
For this reason, engravers are always needed.
A broker is a person who sells and buys rare kinds of metals to individuals and institutions. You might also be interested in working with diamonds, sapphires, rubies and the likes too.
Most brokers have a financial background, as well as some expertise in business too. This is because there are many responsibilities in this kind of job.
You will not only be trading for yourself, but also clients too. You will need to have an understanding of commodities laws and managing risks.
You will also need to be good at building relationships with those who are goldsmiths, mints and coin dealers.just for example.
Restorer Of Antiques
If you are wanting to restore antiques which helps to preserve wonderful items that have been around for decades, then this kind of career will suit you.
While this kind of job is not exclusive to working with precious metals, you will often need to restore precious metal based items like jewelry and pocket watches. However, you may need to learn how to restore the likes of furniture and art too.
There are many different types of career paths (see also “Is Becoming An Investment Manager A Good Career Path?“) when it comes to working with precious metals. For this reason, you will want to take a look at some of the options available before going down a certain route.
Fortunately getting into the precious metals industry is not too difficult. While you do not often need a college degree, you may want to do a hands-on apprenticeship.