Page 21 - Bullion World Issue 01 Volume 06 January_2026

Bullion World | Volume 6 | Issue 01 | January 2026

• Non-destructive testing He discussed complementary methods such as:
• Digital records with date and time stamps • Electrical conductivity testing to detect base metals
• Traceability and auditability in the alloy
• Ultrasonic testing to identify internal anomalies
For silver, he clarified that XRF remains a viable tool, including detecting hallowness
but must be used correctly. Silver articles are often: • Density-based screening for obvious
• Large and bulky inconsistencies
• Non-homogeneous “In silver lending, absolute metallurgical precision
• Made of multiple components with varying purity is not the goal. With layered, non-destructive
technologies and prudent LTVs, risk can be effectively
Since XRF is a point-measurement technology, a single managed.”
reading is insufficient. However, because lending does
not require laboratory-grade accuracy, multiple XRF He also noted that handheld XRF devices-once
readings combined with other tools can manage risk unstable-have improved significantly and are now more
effectively. reliable, especially for large articles that cannot fit into
tabletop machines.

Refining Reality:
Why Silver Is Fundamentally Different

Mr Anil Kansara,
CEO- Auro Metal Refinery Private Limited

Mr Anil Kansara delivered the most technically detailed
and cautionary intervention, grounded in decades of
refining and assaying experience.

He highlighted a stark reality: much of India’s legacy
silver contains foreign materials-iron wires, copper
rods, lead solder, cadmium, and nickel-often hidden
inside ornaments, idols, and utensils. These elements
add weight but distort purity.

He shared real-world refining examples where:
• Silver coins tested as low as 8% purity
• Large melts yielded significant quantities of non-
silver residue Mr Anil Kansara
• Visual inspection and surface testing failed to
reveal internal fillers
“Silver is fundamentally heterogeneous. Without
melting, you will never know the full truth-and that is
He stressed that no non-destructive test can fully
why silver lending must begin slowly and selectively.”
reveal internal composition. True purity is known only
after melting-an option not allowed in lending.
His recommendation was clear:
• Start with simpler, higher-purity articles
Silver hallmarking, he noted, remains voluntary and
• Use multiple testing methods, not a single tool
operationally difficult, especially for bulky or complex • Apply conservative valuation norms
articles. Even hallmarking centres struggle with
• Rely on trained human judgment
storage, handling, and testing of large silver items.

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