Fake ring stamped 925??

HighFlyer

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I found this ring that is stamped 925, but it looks very fake to me. The shiniest part of the silver is flaking off, like it's just electroplated. I've read that the SU could either be an indication for sterling from another country, or it could be for "Silver Unlimited", an online store.

Either way, it looks electroplated to me... is it common to find jewelry that is stamped but fake? Any chances the stuff peeling off isn't the only silver in the ring?

NOTES: It is not attracted to a magnet. It weighs 4.18 grams. Not sure on the size, but it's a little smaller than my ring finger and I have very small hands... I think maybe it's about a 7.
 

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Hmmm... I read of a process called "depletion silvering" or "depletion guilding", where a precious metal and copper alloy such as 10K gold or sterling silver is run through a process of removing the copper from the exterior of the piece, leaving a plating that is more pure than the under bit. (Rather than adding gold or silver to a base metal, it is REMOVING the copper from the alloy at the surface). The final result is just like plating, which will eventually wear off. In silver pieces, the process is used to cover up fire scaling. So I guess there's a chance that the peeling layer on my ring could be from depletion gilding, and the inside may very well be sterling. But then again it could be a big fake!
 
Certainly strange looking in it's current condition. I would lean towards plated something or another as fake 925 silver is not uncommon. You could probably take it to a jeweler and find out for sure.
 
It is probably real sterling. Looks like it was Rhodium plated over sterling. Some sterling jewelry is/was rhodium plated so it wouldn't tarnish. Rhodium like gold won't tarnish and is a bright silver metal.
 
Probably a protective coating as someone else said. Silver can peel. I have some merc dimes found at the beach. Some of them have pieces of the dime peeling.And also has specks that seem to move and fuse back to the dime.
 
UPDATE - it tests positive for silver. I think the flaky outside is a more pure silver, but the dull inside is silver also. When scraped on the testing stone, it is shiny under the dull. I think it may have been depletion plated to make the outside fine silver with a sterling center.
 
I have found 2 pieces like that. The metal under both where silver as well. Was confirmed by testing.
 
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