15 Best-Paying Jobs in Precious Metals | 2022

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Seeking the best-paying jobs is usually the hight light of every job search in every field including the precious metals industry.

The good news is that there are several job opportunities available to you in the precious metals sector.

More so, if you are gunning for a job in an industry to build a long-term career with a high salary, the precious metals industry is your best bet.

As a matter of fact, the precious metals sector is profitable, as there is always a significant demand for precious metals in the market.

Platinum, diamonds, gold, silver, and other precious metals, as well as other costly gemstones, are always in great demand. This implies that you are sure to land a job in the precious metals industry.

Join us on this quest as we reveal the best paying precious metals jobs out there in 2022. Dig in!

What are Precious Metals?

Precious metals are scarce metallic chemical elements that occur naturally with high economic value. These metals are less reactive chemically than most other elements. They have a high luster and are frequently ductile.

Precious metals were once used as currency, but they are now mostly used as an investment and industrial commodities.

How Can You Become a Precious Metal Worker?

What procedures do you need to take to become a precious metals worker? Is there a certain degree or educational need for working in the precious metals industry?

Hence, if you want to work in the precious metals industry, you must be ready. This is a vocation with experts in a variety of fields such as jewelry, antique restoration, furniture making, mining, and blacksmithing.

The benefit of this industry is that it accepts people with any educational background.

Although a college degree is not required for entry into the precious metals business, any academic or practical design experience is highly beneficial and can position you for higher managerial jobs.

Many new metalworkers begin their careers as apprentices or interns, and they work their way up through practical training to gain significant experience and networking opportunities within the metalworking industry.

Salary Structure of Precious Metals Jobs

With little to no experience, entry-level Precious Metal Workers can probably earn between $27,060 to $35,750 per year or $14 to $18 per hour.

Salary by experienceAnnualHourly
Highest (Top 10%)$78,440$44
Senior (Top 25%)$66,730$28
Median$43,800$22
Junior (Bottom 25%)$35,750$18
No experience (Bottom 10%)$27,060$14

15 Best-Paying Precious Metals Jobs

The following are some of the best-paying jobs in the precious metals industry:

#1. Precious Metal worker

A precious metal worker works with gold, silver, iridium, ruthenium, rhodium, palladium, osmium, and platinum, as well as things constructed of those metals.

Jewelry, antique restoration, furniture making, mining, and blacksmithing are all sectors that employ precious metalworkers.

However, the average pay for precious metal workers is $20.98 per hour.

#2. Precious Metal Broker

Precious metals brokers are second-hand dealers who buy new and old precious metals for resale.

However, estimating an item’s value based on retail pricing or market values of precious metals or stones, and offering consumers cash while holding the things as collateral is among their responsibilities.

The average income for a metal broker/trader is $110,000 per year.

#3. Goldsmith

We know metalsmiths who specialize in gold and other precious metals as Goldsmiths. Hence, shaping metal, soldering pieces together, mending jewelry, resetting stones, altering ring sizes, cleaning and polishing jewelry, and grading precious stones are all essential work activities and obligations of a Goldsmith.

Furthermore, according to pay.com, the average Goldsmith income in the United States is $55,376 as of February 2022, while the compensation range often ranges between $38,163 and $66,777.

#4. Quality Control Specialist in Precious Metals Jobs

In the United States, how much does a Quality Assurance Specialist earn? As of March 20, 2022, the average Quality Assurance and Control Specialist pay in the United States is $72,309.

More so, The Quality Control Specialist is in charge of:

  • Make necessary repairs
  • Product tests and Assessments
  • Support process improvement
  • Identify product defect
  • Recording and reporting issues

#5. Metals Production Specialist in Precious Metals Jobs

Metals and steel production specialists’ roles involve:

  • the determination of the chemical composition of the product.
  • the selection of the method and temperature of the smelting process
  • the production of alloys with the required properties
  • the processing of ore to produce steel

As of March 2022, the average income for a Metal Production and Process Specialist is $78,106.

#6. Precious Metals Advisor Consultant in Precious Metals Jobs

A metal advisor or consultant works with clients to carefully assess market timings and determine which metals position is ideal for you.

In the United States, a Precious Metals Consultant’s annual total salary is estimated to be $81,687.

#7. Jewelry and Coin Specialist in Precious Metals Jobs

Among the responsibilities are:

  • Providing accurate appraisals and payouts
  • Testing, buying, and selling Precious Metals, Coins, Currency & Collectables
  • Providing excellent customer service

Hence, in the United States, a Jewelry and Coin Specialist earns between $50,000 and $70,000 per year.

#8. Analyst Precious Metals Operations

Analyst precious metal operations deal with analyzing metals and their operation. However, analyst metal earns between $30,000 to $40,000 per year.

#9. Jewelry Design in Precious Metals Jobs

There are four key aspects to the field of jewelry. Each has its own set of financial advantages. The first is the creation of jewelry.

These jewelers create anything from bracelets and wedding bands to brooches and necklaces out of precious metals and minerals.

Jewelry designers might earn anything between $40,000 to $50,000 per year or more, depending on where they work and who they work for.

#10. Jewelry Sales

Jewelry sales are by far the most profitable aspect of the industry. Buying, selling, and evaluating the value of precious and semi-precious jewels are all aspects of this profession.

However, between salary and commission, a typical salesperson in a jewelry store can earn between $30,000 and $40,000.

#11. Jewelry Repair

Jewelry maintenance can be a lucrative career path. Setting, refitting, and even some parts of jewelry design fall under the category of repair work.

A jewelry repairer’s remuneration is determined by the number of customer pieces they can work on each year.

Some of these jobs require you to work for a huge chain store, but tiny enterprises that work with multiple jewelry stores at the same time are becoming more frequent.

#12. Jewelry Appraisal

An appraisal is the last part a jeweler may choose to pursue as a career. The ability to evaluate and test items of jewelry in order to estimate their value is known as appraisal.

Few appraisers operate alone. A jewelry appraiser can work in a pawnshop or anywhere else where jewelry is bought and sold. Jewelry appraising is a specialty for many jewelry store owners and sales floor staff.

#13. Lapidaries

Lapidaries workers keep records of precious metals and stones. However, a lapidaries worker earns between $20,000 to $3o,000 per year.

#14. Gemmologist

A gemologist examines precious stones, and stores and analysis gemstones, grindstones, and precious stones.

More so, a gemmologist earns between $60,000 to $70,000 per year.

#15. Miner

A miner extracts precious metals and other metals like platinum, silver, and diamond. More so, a miner earns between $50,000 to $60,000.

Highest Paying Industries for Precious Metal Workers Based on their Average Annual Salary in United States of America

Salary by industryAnnualHourly
Non-depository Credit Intermediation$74880$32.19
Merchant Wholesalers, Durable Goods$59580$29.16
Management of Companies and Enterprises$50380$25.17
Jewelry, Luggage, and Leather Goods Stores$48420$24.33
Other Miscellaneous Manufacturing$43360$21.80
Employment Services$4210$21.78
Other Professional, Scientific, and Technical Services$42240$20.55
Personal and Household Goods Repair and Maintenance$41810$21.05
Nonferrous Metal Production and Processing$39410$19.90
Electronic Shopping and Mail-Order Houses$37950$19.25

Largest Employers of Precious Metal Workers in United States of America

Precious Metal Workers can work in a variety of settings. The top ten largest employers of Precious Metal Workers, as well as the average wage in that industry, are included in the table below.

EmployersTotal EmployedAnnual SalaryHourly Wages
Jewellery, Luggage, and Leather Goods Stores7770$49520$23.33
Other Miscellaneous Manufacturing5250$44260$20.80
Merchant Wholesalers, Durable Goods3940$59580$28.16
Personal and Household Goods Repair and Maintenance850$42710$20.05
Specialized Design Services550$38720$18.14
Other Professional, Scientific, and Technical Services340$43740$20.55
Nondepository Credit Intermediation330+$65880$31.19
Employment Services200+$44210$20.78
Management of Companies and Enterprises200+$52280$24.17
Nonferrous Metal Production and Processing200+$39410$18.90

Precious Metal Worker Job Market by States in the US

State NameEmployed Precious Metal Workers
New York4,570
California2,950
Texas2,910
Florida1,250
Illinois1,200
Pennsylvania750
Ohio740
New Jersey630
Michigan560
New Mexico580
Massachusetts560
Arizona550
Rhode Island570
North Carolina480
Louisiana470
Georgia460
Washington380
Utah380
Alabama360
Indiana350
Maryland340
Oregon350
South Carolina340
Wisconsin330
Colorado320
Missouri310
Oklahoma280
Minnesota290
Arkansas240
Hawaii230
Tennessee210
Iowa200
Kansas190
Nebraska170
Connecticut140
Nevada140
Kentucky120
South Dakota120
Montana120
Maine190
New Hampshire100
North Dakota95
Vermont75
Mississippi76
Idaho66
West Virginia67
Virgin Islands, U.S.45

Is Precious Metals a Good Career Path?

Absolutely! Precious metals is a good career path if you’re looking for a field where you can use your creative abilities.

There are tons of professions to choose from in this industry. This implies that you will always have a job since precious metals are used in commerce, personal decorating, and other things.

Furthermore, if you dislike interacting with people, this business allows you to operate or trade in this market without having to be in contact with customers.

Conclusion

In the United States, there are around 50,000 precious metalworkers. However, the labor market for metalworkers is likely to decline by -7.6 percent between 2024 and 2026, as technology progresses, more avenues to invest in gold will become available, and prices will continue to rise.

As a result, several vacant positions will accommodate new intakes.

More so, working in the precious metals business, you don’t need years of experience or a high-level college diploma, though a degree and work experience can help you find a job faster.

FAQs

Who is a precious metal worker?

Precious metal worker is one who deals with precious metals like gold, lithium, rithium, silver.

What job does a precious metal worker do?

Precious metal worker create and designs jewelry from precious metals and stones.

What is a gemmology?

Gemmology is the study of precious metals, stones and gemstones.

What are precious metals?

Rare, naturally occurring metallic chemical elements with considerable economic worth are known as precious metals.

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