Is precious metals a viable career option? Yes, particularly if you want to pursue a satisfying profession in a field that is distinct from the mainstream. While most individuals want to be doctors, bankers, or lawyers, not everyone realizes how lucrative and gratifying working in the precious metals sector can be.
It is scarce and in great demand since the business works with “precious” and “luxury.” Although it is not well known, the business is an excellent place to start a rewarding career.
This article will teach you more about the precious metals sector and how to get started in it. Of course, after this post, you’ll know the correct answer to the question, “Is precious metals a decent career path?”
What Are Precious Metal?
Before we go into the details, let’s define precious metals and why they’re named that. Precious metals are metals that humans get from the Earth and have a great value. There are several metals available today, the most frequent and notable of which are:
• Gold
• Silver
• Platinum
People have preferred these three sorts of precious metals for investment or adornment from ancient times to the present. Other valuable metals, however, include palladium, rhodium, and ruthenium.
Why are these metals referred to as precious metals? The primary reason is their worth; these metals have a higher value than other things or metals accessible on Earth.
If you look at gold price statistics for the last 100 years, you’ll see that the price has been following uptrends and is currently rising.
Top 10 Best Paying Jobs In Precious Metals:
Depending on your chosen position, a career in precious metals might be rich and satisfying. Working with these metals is a specialized career that may pay well. Here are some of the best-paying positions in this field:
Precious Metals Broker:
A precious metals broker is a person who, as an industry middleman, buys and sells physical metals to people or institutions and offers trading alternatives such as spot trading or futures, options, and swaps to consumers.
They have the investment option in various materials such as diamonds, sapphires, emeralds, rubies, and many more. Most metals brokers have previous experience working in a metal banking or commodity trading firm.
A broker’s primary tasks include communicating with customers and on behalf of investors, managing risks, understanding commodity legislation, and promoting awareness. It is important to remember that precious metal traders must license in the nation or state in which they operate.
Precious Metals Worker:
An all-purpose precious metals employee works in producing silver, gold, and other metals. It is a varied sector of labor that might lead to a professional path in which individuals learn to design and manufacture products such as airplanes, card boats, ships, and equipment.
There are several options in this profession, such as teaching at an engineering college or working as an entrepreneur or materials scientist. It is also feasible to discover precious metal professionals working in green energy technologies, leveraging their precious metal knowledge to build more environmentally friendly goods.
If you want to work in the precious metals industry, you should display a high degree of control and expertise. Most occupations include heating molten metal and jigging it with different solvents and resins, regulating furnaces, adding solder, and many other tasks.
Goldsmith:
Goldsmiths are skilled artisans who produce and repair jewelry and other valuable metal-based items. They might also be the designers of items such as spoons, buckles, and other works of art.
Goldsmiths utilize chisels and hammers to create detailed, handcrafted patterns on metal things like jewelry, helmets, and badges. While instruments like hammers and chisels may seem simple, goldsmithing is a highly skilled job that demands a keen eye for precision, considerable ability, and a keen sense of detail.
Precious Metals Sales Agent:
Depending on your qualifications and skills, being a salesman might be a successful career. Most salespeople in these positions must have some understanding of collectibles, coins, and precious metals to communicate with prospective employers.
Their primary responsibility is to manage and build their company’s portfolios and accounts by purchasing, trading, selling, or buying different high-value metals and coins. Most sales agent activities are now conducted over the phone and often involve a commission percentage and an established basic income.
You must be comfortable on the phone and forceful and confident in this kind of employment. Precious metals sales reps must be able to describe the ultimate amount of money they are selling and have substantial and easily accessible knowledge of the goods they are selling.
Precious Metals Marketing Expert:
Marketing professionals in precious metals, like precious metals sales agents, should be conversant with precious metals or coins and grasp the basic marketing and communication tactics.
Most of the time, these individuals will act as product ambassadors, increasing awareness and knowledge to help in maintaining or improving sales funnels to meet the financial objectives of the company.
Marketers might be held liable for updating product information and the company’s website and offering solutions to aid sales. They may also be in charge of creating advertisements, email campaigns, social marketing, and so on.
Goldsmith Apprentice:
Apprenticeships in goldsmithing are available for people who wish for full-time work Apprenticeships in goldsmithing are offered for anyone interested in working as a full-time goldsmith. Most persons who desire to acquire an internship work with local master smiths and other organizations.
Apprenticeships provide one-on-one instruction in a work setting, allowing people to directly master the skill while also better understanding the job and how the process works in general. The Goldsmith Company is well-known in the UK for its prestigious goldsmith apprenticeship program.
Local organizations and individual goldsmiths provide apprenticeships in the region. An apprenticeship program typically lasts 3 to 5 years before you may become a full-time goldsmith.
Junior Precious Metals Sales Associate:
Most junior sales employees in precious metals do not need prior sales experience. As long as you’re devoted, driven, and able to teach, this kind of employment might enable you to learn as you go.
Most job descriptions require that workers adhere to a script set by the organization’s CEO or sales and marketing professionals. Junior sales associates often receive a tiny commission, which is frequently divided with their higher-ranking bosses.
As a sales associate, you may learn about the work via experience, understand your client’s demands, and gain specific expertise in precious metals. These skills set you apart when applying for more senior sales employment.
Material Operator:
Materials managers that deal with precious metals are often employed in the company’s production department. They are in charge of planning, monitoring, and organizing all supplies to meet the department’s production schedule needs.
They may be necessary to maintain production records, document procedures, gather data, and monitor and record critical process indicators on specialized industrial equipment.
Before shipment, material managers must organize their items and verify that they are properly sealed and weighed. They might be held liable for implementing safety standards and norms and maintaining equipment health by federal and local legislation.
Being a material worker brings up new opportunities in manufacturing and production, particularly in precious metals.
A material worker will be taught the fundamentals of quality control, manufacturing, sales organization, and shipping. These skills will set you apart from the competition when looking for higher-level employment in manufacturing and production.
Maintenance Technician:
Maintenance technicians are classified into numerous levels; however, for an entry-level position, they usually begin at the lowest level. You’ll be able to apply for higher-level employment if you’ve accumulated knowledge and abilities as an initial maintenance tech.
They are often required to inspect, diagnose, and fix faulty production equipment or systems, and troubleshoot them while adhering to requirements to ensure material quality and general plant maintenance.
There may also be a need for an orderly system for tracking work order orders, invoicing components or monitoring failures, and basic cleaning and housekeeping.
Precious Metals Marketing Associate:
You’ll learn new things every day as an associate marketing professional for precious metals. As a Marketing Associate, your primary role is to assist the marketing leader with many activities, such as assisting in the creation of sales materials, such as call scripts, scripts for calls, and promotional materials.
How To Become A Precious Metal Worker?
Looking at these opportunities, you would believe that finding a career in the precious metals business is hard, but that is not the case. With a high school diploma or a college degree, you may work in any position in the precious metals sector.
The following credentials are necessary for employment in the precious metals industry:
High School Diploma, Equivalent, Or College Degree:
The fundamental education must complete, which might be a high school diploma, general education development (GED), or a college degree.
Certification:
Certificates are essential; having one will indicate your expertise in precious metals.
University Degree:
Precious metal employees do not need to be graduates, but a university degree is required if you work in sales, business development, or other financial aspects of the company.
Why Choose A Career In Precious Metals?
Precious metal workers may be assigned a broad range of duties. These individuals may be called upon to make jewelry, resize rings, or repair damaged or delicate objects such as silverware, jewelry, or silver tea sets.
They may also be called upon to clean delicate goods, make new products, or even work as security to keep valuable metals safe from thieves. So, why should you pursue a profession in precious metals?
Several Jobs Are Available In Precious Metals:
There are several career possibilities available in the business. Precious metals, like many other sectors such as capital goods and durable or non-durable industries, provide a variety of professions to those interested in pursuing a career in the business.
Because of the industry’s wide nature and the enormous number of positions accessible, it is simple for anybody to find a career that matches their demands. If you like meeting new people and connecting with them, choose a profession that requires you to engage with consumers regularly. If you like to work behind the scenes, a position in the production division would be ideal for you.
Career Growth Opportunities:
The industry itself is not static; it changes and develops regularly. As a result, their employees may anticipate several prospects for advancement. Even if you start as a clerk in the sector, you may quickly advance to become a specialist, analyst, or even a manager.
Opportunity To Meet Many People:
Yes, working in the precious metals market enables you to meet a diverse spectrum of individuals. You will get the chance to meet and engage with many individuals, especially if you work in a department that directly interacts with customers.
Because precious metals attract individuals who are interested in luxury and value, the people you will be seeing regularly are likely to be influential and valued members of society.
You Will Gain Specific Knowledge:
The industry is quite specialized. That implies that if you have the necessary skills and certifications, you will have no trouble finding work in the sector. And as you develop more expertise in your field, you will become a more valued member of any team.
High Job Satisfaction:
People put a great value on precious metals. Many people even utilize them to save for the future. It is a fantastic financial item that keeps everyone on their toes whenever it is discussed. Working in the sector will thus include being associated with something that many people respect. As a result, after your task is over, you will have a great feeling of accomplishment!
What Do People Working With Precious Metals Do?
Precious metals workers deal with materials such as gold, silver, and platinum, as well as products created from those metals. But it’s not only for the jewelry industry. Precious metal workers may be available in many sectors, including jewelry, antique restoration, furniture manufacturing, mining, and blacksmithing.
Depending on their job path, precious metal workers may have a variety of tasks. Metalsmiths may create metal jewelry, resize rings and bracelets, or repair or restore damaged or antique jewelry pieces.
Precious metal workers may also be insurance company advisors. Others may specialize in engraving valuable metal objects such as wristwatches, picture frames, and wedding bands.
Frequently Asked Questions (FAQs):
What Profession Deals With Valuable Metals And Stones?
Goldsmiths, metal futures traders, production polishers, and precious metals experts are all jobs that include precious metals and stones.
Are Precious Metals Profitable?
Precious metals have historically had significant value as a currency, but are today mostly viewed as an investment.
What Are The Prospects For Precious Metals?
As technology progresses, the precious metals labor market predicts to shrink by -1% between 2016 and 2026, implying little to no change in employment prospects.
What Do You Call A Precious Metal Worker?
A precious metal worker is sometimes known as a precious metal expert or a gemologist.
What Is A Precious Metal Worker?
A precious metal consultant advises customers on the best metals to purchase. They use market timing to assist investors in achieving a high return on investment (ROI) on their purchases.
