The job market offers something for everyone, but that means you need to know what you want if you want to get the best job for you.
No doubt, there are a lot of jobs in mining precious metals, but which of them earn great incomes?
Here in this blog, we’ll discuss not only jobs in the precious metal industry that guarantee high income but also how to become a precious metal worker and what those in the industry do.
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Is Precious Metals A Good Career Path?
Yes, a career in precious metal is a good and excellent path. It is a flexible career path in which you don’t have to do the same thing all the time.
There are quite many well-suited jobs in precious metal, it all boils down to what part you want to venture on. You can be a Goldsmith, or a jewelry designer if you are high on creativity and have a good eye for details.
You can be a sales or marketing personnel if you enjoy the thrills of advertising and selling.
If you are not skilled in these but still have an interest in the industry, you might check out the production, manufacturing, and operational line. Irrespective of your skill, the precious metal industry is vast and you will surely find a position that suits your skills.
List of Best Paying Jobs In Precious Metals In 2022
The precious metals industry has a lot of jobs ranging from when they are extracted, smelting, refining, jewelry making, and others.
Employment opportunities are available at jewelry manufacturing companies, refineries, geological and engineering organizations, and also the finance sector. In no particular order below are some of the best-paying jobs in this industry.
- Precious Metals Worker
- Precious Metals Broker
- Quality Control Specialist in Precious Metal
- Goldsmith
- Specialist in Jewelry and Coins
- Jewelry Seller
- Gemmologist
- Jewelry appraiser
- Miners
- A Goldsmith
- Goldsmith Apprenticeship
- Broker
- Junior Sales Associate
- Advisor or Consultant in Precious Metals
- Lapidaries
- Precious Metals Worker
Just like any other field, the Precious metal industry requires workers. The need for workers has increased recently because the entirety of the industry is mainly dependent on human labor. With the increase in demand for workers, their pay has also seen a tremendous increase over the years. This makes it one of the best-paying jobs in the industry.
- Precious Metals Broker
In recent years, brokers in the industry have gained more popularity. To be a broker in Precious metals, you will need to have a minimum of a college degree and some experience in the industry.
This means you have to have certain skills before you are hired, and most brokers work in the comfort of your home.
Annual income for brokers can differ because some positions give additional commission which is calculated in percentage of the total assets of the management. Irrespective of the difference, as a broker, you will be cashing out big.
- Quality Control Specialist in Precious Metal
A quality control specialist in precious metals’ job is to see, ensure, review and approve products before they are been sold. They make sure the product ticks all the boxes for standards.
Being a specialist, you’ll need to have a minimum of a high school diploma and an associate degree in any technical field. The job is of the best paying because they see to the quality of the product.
For one to be able to know and approve of the quality of precious metals, one must have vast knowledge and experience in the industry.
- Goldsmith
The increase in the popularity of gold as an asset of investment has been an eye-opener. As a result of people investing in these precious metal assets, the need for goldsmiths has increased.
With the increase in demand came also an increase in their pay. To be a goldsmith, having a college degree is optional but you will need a certain level of experience in the field.
- Specialist in Jewelry and Coins
The pay for jewelry and coin specialist is among the highest in the precious metal industry. This is a result of the growing demand for the job and also increase interest in the art and collection industry.
- Jewelry Seller
As a salesperson, it might sound easy but I promise you it’s not as easy as you think but the reward is worth it. In your job as a jewelry salesperson, you help the customer in making the right choice for his needs.
You provide them with the right information regarding the piece they are interested in, this information will help them in deciding on what to buy.
- Gemmologist
As a gemmologist, your job is to identify and describe a gemstone. It is one good profession for those interested in the precious metals market. A gemmologist identifies and determines the value of a rare Gemstone for auctioning.
- Jewelry appraiser
As a jewelry appraiser, you analyze and evaluate the product and its worth. You will also provide an estimated value of the product. This job is one of the best and most highly paid in the industry.
- Miners
The Gold Rush is one of the many jobs in the industry that can fetch you millions in no time. A lot of people dream to become miners but the job is not for everyone.
To be a miner, you need to have first-hand broad knowledge of geology and mining, you need to be physically fit and able to withstand long hours at high altitudes.
With all the reward that comes from the job it also has some disadvantages. It is a seasonal job, and you can be unemployed for a long time due to the uncertainty of the job.
But once you get an opportunity and you are qualified you will become one of the millionaires from the gold rush.
- Advisor or Consultant in Precious Metals
The demand for advisors and consultant in Precious metal has been on the increase and have gained a lot of popularity as a result of the available job openings around. It is one of the best-paying jobs in this industry.
- Lapidaries
Who would have imagined that cleaning up rocks will be a profession and at that a high-paying one? A lapidary’s work in the industry is the cleaning and cutting of gemstones, stones, and rocks for jewelry making. You need to have a background in jewelry making to fit into this job.
Their work can also include creating pendants and rocks. Some lapidaries also work with gold, diamond, and silver.
They work with materials like brushes, wires, sandpaper, and whatnot to be able to remove all the unwanted material on the Precious metal they’re working with.
- A Goldsmith
The need for goldsmiths has increased tremendously with the increased awareness of gold as an accent of investment. There are a lot of job openings for a goldsmith available daily.
- Goldsmith Apprenticeship
To become a full-time goldsmith, you need to have the skills and experience. There are a lot of jobs available which can take you about 3-4 years to be a full-time goldsmith.
This allows you for one-on-one training to learn on the job while being of assistance to the company or goldsmith you are working with.
- Broker
A broker is a middleman between the industry and buyers. They trade on behalf of investors because they know risk management and an in-depth understanding of the market value. To be a broker, you will require a license in the state or country of operation
- Junior Sales Associate
This is one of the available jobs in the industry that doesn’t require prior experience. It provides you with an opportunity where you learn on the job.
The job is quite easy if I must say because there are already written phone scripts drafted by the marketing or sales department in the company.
This position makes you understand more about precious metals, the customer pool, and other valuable knowledge that will set you up for higher positions.
What Does A Precious Metal Worker Do?
Just like the name, a precious metal worker is someone who works with precious metals like platinum, silver, gold, rhodium, osmium, and a lot more. They also deal with objects made from these precious metals. You can find precious metal workers in industries like the jewelry industry, mining, blacksmithing, museums, and sometimes furniture industries.
A precious metal worker has multiple tasks depending on the company and the position. In the jewelry industry, you can find a worker crafting pieces of jewelry of different types, selling, repairing, and even becoming a consultant for investors, guiding them on the right item to invest in.
Precious metal workers can be found in museums to take care of their antiques. They clean the items and sometimes create new ones. As a worker in a museum, you have to be careful not to break any of the precious metals.
You also need to be security conscience because these precious metals are expensive and can be a target for skilled thieves. Most of the Silvers, Gold, and platinum bullion in museums are kept in a vault with tight security that requires several types of locks to access them.
How To Become A Precious Metal Worker
Becoming a precious metals worker is not an easy task. Don’t worry, it’s not a hard job as well just that you need some skills to be able to scale through. If your interest is in melting metals, you must be conscious and aware of your body and how to protect yourself and those around you from danger.
If you want to venture into embellishment of already casted metals, you need to have an excellent eye for detail, and excellent and steady hands, a lot of patience especially when using hand tools.
Having a strong vision can not be overemphasized as a precious metal worker. This is because you’ll spend long hours focusing on tiny pieces at a stretch.
Being reliable, trustworthy, and ethical are qualities you must possess as a precious metal worker. This is because you will be trusted with a large amount of expensive and valuable metals like gold.
If you want to venture into repair, you have to be extra careful because most repaired precious metals are pieces of jewelry, spoon, and small pieces that can be easily concealed.
Only a few positions in the industry require a college degree or some school qualifications. However, having a degree or having gone through some design or geological programs can be beneficial.
Majorly precious metal workers join the industry as apprentices and develop skills over the years from practical experience. This way, they get to network with the larger community of precious metal workers.
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Conclusion
The rate at which people are investing in precious metals is on the increase. With technology, some investors buy bonds and stocks which are backed by these precious metals. Investing in precious metals is one of the best ways to invest money either a short-term or long-term investment.
There are different forms of investment in the industry which include buying bonds and stocks tied to a particular precious metal, buying gold coins or bars, and lots more. It is one sure way of getting rich because the growth of the industry is constant.