For most people, their wedding day is one of the days they most anticipate. There’s good reason for this expectation too, the thought of spending a lifetime with someone you love is something that is many people’s greatest dream.
In most parts of the world, the wedding ring is an integral part of the ceremony; as a result, it is something that requires a lot of thought from every couple that’s about to get married.
Factors That Determine Wedding Ring Price
Wedding rings can cost thousands of dollars or be as affordable as a few hundred dollars. However, the differences in the price of wedding rings aren’t random, some factors determine why some would spend $100 on a wedding ring, and another person would spend thousands of dollars.
1. Type Of Metal
A wedding ring comprises mostly of the base metal from which it’s made; in fact, most wedding rings are even made entirely of metal. Because metal is the major part of wedding rings, the type of metal your ring is made of would be the greatest price determinant in most cases. There are different types of metals that rings are made from; we look at some of the most common ones below.
For centuries, gold has been one of the most popular metals used for making all types of jewelry, and they’re a popular choice for wedding rings. The purity of gold is usually measured in karats, with 24 karats indicating that the gold is 100% pure. Gold rings of higher purity are usually more durable and of course, more expensive.
In the case of gold that’s less than 24 karats, the other metal that is mixed with the gold is an important factor in deciding its value.
Silver is another common material that wedding rings are made of and its greatest selling point is that it is very affordable. However, silver scratches easily and oxidization can make it lose its luster and turn black. However, maintaining a silver wedding ring is relatively easier than other metals as a simple jewelry cleaner can take away the effects of oxidization from your ring.
Platinum is a dense and white-looking metal that is also used to make wedding rings. Platinum is a long-wearing material and in most cases is used at 100% purity. Platinum wedding rings are usually more expensive than other types of rings.
Titanium is a metal that has a rare mixture of very lightweight and strength; it is the strongest naturally-occurring metal on earth. Also, the fact that they are 100% hypo-allergenic makes them safe for people who usually have reactions when they put on other types of metals. Titanium rings usually cost more than silver rings but are not as expensive as gold or platinum wedding rings.
2. Type Of Gemstone On The Ring
Unlike engagement rings, most wedding rings are fully-metal bands; however, some wedding rings have gemstones on them. Rings can have stones on them in patterns such as channel or pavé settings.
If you choose to buy a wedding ring that has gemstones on them, the price of the stone is likely going to influence the price of the ring more than the metal. There are some popular gemstones used on wedding rings, and some of them are explained below.
Diamonds are by far the most popular and valuable gemstone on earth. They are worth so much because of how rare they are; also, their hardness makes it possible to use them for a long time without any scratches. Natural diamonds usually cost an average of $6,500 per carat.
Ruby is another beautiful precious stone that is used to adorn many people’s wedding rings. Rubies are pinkish-red gemstones made of corundum (the same mineral from which sapphires are made). Rubies usually cost around $1,000 per carat.
Emeralds are beautiful green-colored gemstones made from the mineral known as beryl. The cause of the beautiful green color is the mixture of another mineral known as chromium; when there isn’t enough chromium in an emerald, it is colorless causing it to be worthless. The price of emeralds starts from around $200 per carat.
Sapphires are very colorful gemstones that are used to beautify wedding rings around the world. They are made from the same mineral as rubies but are less expensive. Blue sapphire can be priced from around $450 per carat.
There are other cheaper stones like spinel, aquamarine, opal, amethyst, turquoise, and peridot that you can use as the stones on your wedding ring.
Factors To Consider When Choosing How Much To Spend On A Wedding Ring
No one can outrightly tell a couple how much they are supposed to spend on their wedding ring because different people have varying needs and circumstances. However, there are some things that every couple should consider when deciding how much they want to spend on a wedding ring.
1. How Many Rings You Want To Buy
The wedding day for most people involves the exchange of three rings between the couple. Usually, the bride puts on two rings– the engagement and wedding rings; while the groom wears a single wedding ring.
In some cases, the bride would use the old engagement ring that she had on before the wedding day. However, some couples prefer to buy a new three-piece set of rings for their wedding day. A couple might change their engagement ring if the former one is old or if they had bought it intending to replace it with the perfect one on the wedding day.
Whatever the case, the number of rings you’re buying would affect how much spending leeway you have as three rings of the same quality would cost more than buying two.
2. Preferences Of The Couple
Every couple is different in what kind of ring they prefer to exchange on their wedding day. Some couples might want to get the same type of ring as a set and use it on their wedding day. However, sometimes the choice of one of them might be different from the other; in such scenarios, they’re better off going with what each one prefers.
Also, one of them might be allergic to a metal that is the dream material that the other wants for their wedding ring. Finally, some could care less what their ring is made of and just want to get the wedding over with. Everyone has their unique needs; however, the choice of both parties would play a major role in determining how much they spend on a wedding ring.
3. What You Can Afford
While a wedding ring is a lasting symbol of marriage, it is one of the many expenses involved in organizing a wedding. The couple must analyze how much they can afford to spend on a wedding ring. In this case, there’s no perfect answer since a wedding ring can be changed in marriage as many times as the couple wants.
However, if money isn’t an issue, there are no limits to what a couple can or should spend on a wedding ring. A wedding ring would be a piece of jewelry that holds sentimental value to its wearers for the rest of their lives, so it’s always great to buy the best quality you can afford.
In conclusion, couples should spend as much as they can afford on a wedding ring that meets their needs without affecting the other wedding plans.