As I write this, gold is $1,145 per troy ounce. (Silver is $18.45 an ounce.) This is because the value of the US dollar has been in the toilet for too long.

It is depressing. Although I love silver, there are certain designs and stones that just call for gold, and it's so ridiculously expensive (it has been for quite some time actually, but now it's just excessively so) that I can't afford to buy/work with it. I remember back when I started metalsmithing and it was $300-ish per ounce. Most of my customers say they prefer silver to gold or platinum, so the price of gold hasn't affected me terribly in terms of sales, but it has hindered me in terms of creative potential.

I like to be able to create with more metals than silver, and so I've had to explore using base metals such as bronze and copper as an alternative. Thankfully, a couple of recent innovations have helped make this interesting rather than feeling like a step down in quality. I'm finding that people are receptive to the use of copper and bronze in jewelry, particularly when it looks aged.

I've also been using less metal overall, incorporating more non-metal elements into my designs — such as gemstone beads, and I've considered using palladium (currently $369/oz.), a white metal in the platinum family that doesn't tarnish like silver.

How are other jewelry artists dealing with the high price of precious metals? 

Angela Baduel-Crispin

Andes Cruz

Tonya Davidson

Tamra Gentry

Vickie Hallmark

Elaine Luther