Fine Silver - is 99.9% pure silver. This silver is too soft to use for make the jewelry.
Alpaca Silver - is a metal alloy that is not silver at all. The Alpaca silver is combined with copper, nickle, and others metals. It's also called nickel silver, German silver, new silver and paktong. Frequently, the Alpaca silver is used to make the music instrument, but some manufacturers are used it to make jewelry. Because of its visual similarity to sterling silver jewelry and the price is not expensive, many consumers like to choose this instead real silver. Its stainless finish make the jewelry is easy to clean, requiring only lemon juice or mild soap to remove marks or tarnishing. On the others hand, the consumers that want the real silver and don't know the different between alpaca silver and sterling silver should beware some seller sells the alpaca silver jewelry and tell that is the real silver jewelry.
Mexican Silver - is called for describe the silver which made from Mexico. The Mexican silver is contained more than 90% pure silver. Most of silver jewelry from Mexico today is actually sterling silver.
Britannia Silver - is 95.85% pure silver and not over 4.16% copper alloyed. First, this silver type was introduce in England to replace sterling silver in 1697. Then in 1972, sterling was approve again and Britannia silver has remain an optional standard silver in UK and Ireland. The Britannia silver is hallmarked as 958, it is an even more pure form of silver than sterling silver. So it’s higher valuer.
Silver Plating - is the method to make the metal jewelry has a look like the silver jewelry. This process is also called electroplated silver or silver coated. Silver plating is normally using for base metal such as brass or nickel. The base metal is plated thin layer of pure silver. Even the plated metal is look like the sterling silver, but it tends to wear off quite quickly exposing the less than beautiful base metal.
Reference :
http://articles.fjewelrystore.com/silver-jewelry/warning-dont-buy-silver-jewellery-before-reading-this.html
http://www.wisegeek.com/what-is-alpaca-silver.htm
Picture Credit :
http://www.pinaymistress.com/how-to-clean-silver-jewelry-a-home-made-cleaner.html