The Welman Group, LLC Sterling Silver Jewelry
P.O. Box 30199 · Bethesda, MD 20824-0199
1-888-333-0870 · (301) 907-7916 · Fax: (301) 656-1889

Phone: 888-333-0870

Fax Number: 301-656-1889

The Welman Group, LLC

P.O. Box 30199  Bethesda, Maryland 20824-0199

                                                                                                                February 7, 2012
As most of you already know, the prices in our main silver catalog (#18) are based on $4.75 per ounce raw silver. This was the approximate price of silver (with slight fluctuations) from 1983 - 2003. In 2004, the prices of all precious metals (including silver) began to rise. If you are interested in this history, please poke around the Kitco website ( www.kitco.com ). They have some really great information. Our current surcharge is now 175%. To be fair, many of our base prices have risen in response to increases in our manufacturers' base prices, but the combination of these increases with the surcharge comes no where close to the overall percentage increase in the cost of our jewelry.

To get a good idea of how the surcharge on our silver jewelry correlates to the price of raw silver bullion, it is helpful to look at the chart below. Obviously, there are other factors involved in the cost of silver jewelry, but it is clear that we and our manufacturers are absorbing a significant portion of the over all excess cost. As always, we appreciate your business and look forward to serving you in the future.

 Best, The Welman Group