Silver is considered an industrial metal as is copper.
Silver may be used for industrial purposes, but it is most
definitely a precious metal.
Silver, gold and platinum (plus some of the other rare earth metals,
I believe) are all considered precious metals by the jewelry
industry. Copper, brass, bronze, nickel, zinc, etc., and the ferrous
metals are not. And the term “semi-precious metal” does not exist.
You’re free to invent it, of course, Joanna :-), but it might lead to
a lot of confusion. With people using everything from pewter to steel
to aluminum in jewelry, where would you draw the line?
No distinction is made between pure silver and sterling silver, just
as no distinction is made between pure (24k) gold and 14k gold, at
least not where the term “precious” is concerned. A silver alloy
with less than.925 parts silver would not be considered precious. In
other words, as Norah said, if the FTC goes to the trouble of
defining it for quality stamping purposes, then consider it precious.
Beth