Searching for the current price of silver? A silver price chart that includes historical silver prices? You've come to the right place. U.S. Money Reserve's easy-to-read silver price chart has it all.
Silver Price Chart
How to Use a Silver Price Chart
You can use our interactive silver price chart to compare the price of silver over a specific period of time of your choosing, say from 1973 to 2005, or over the last 5 days, 1 month, 1 year, 5 years, or 10 years.
A silver price chart can help you identify silver price trends and watch for the best times to buy silver. To identify a trend, start by looking for peaks and valleys in silver prices during the time period you've selected. What patterns do you see? Identifying past market trends doesn't necessarily mean silver prices will perform in the same way in the future, but trends can give you a good idea of what might happen and how you can prepare.
What Are Silver Spot Prices?
Note that most silver price charts track the spot price of silver. The spot price is the current market price at which silver is bought or sold for immediate payment and delivery, essentially what you would pay “on-the-spot” as opposed to some date in the future. If you could buy raw silver before it was minted into a bar or coin, you would theoretically pay the spot price. As an everyday silver buyer, though, buying silver at spot price isn't necessarily possible.
The spot price of silver refers to the price for one troy ounce and is generally quoted in U.S. dollars. A troy ounce is a standard unit of measurement for precious metals. One troy ounce is 31.1034768 grams (1.097142857143 oz.), but you’ll often see silver prices listed as $/oz. without “troy.”
Today's silver spot prices do not account for any other costs that may be associated with the design, manufacture, transportation, purchase, or sale of a silver coin or bar, including costs like packaging, shipping, or insurance. Silver spot prices also fail to take into account the rarity of certain silver products and their numismatic value.
Making sense of the price of a silver bar is pretty straightforward. The price includes the spot price of silver, how much it cost to produce the bar, and maybe a small dealer markup. Silver coin prices also take into account where a silver coin was minted, the amount produced, the type of coin, its condition, and more.
In a way, trying to buy a silver coin or bar at the spot price of silver is like trying to buy a car for the price of the raw metal and plastic that went into it. What about the cost of transporting all of the pieces and parts, assembling them, the demand for the car in your area, and so on? There's a lot that goes into the price of a car. There's also a lot that goes into the prices for silver coins and bars!
What Influences the Current Price of Silver?
Silver prices change daily. The price of silver today may be higher or lower than yesterday or tomorrow. You never know when you could see silver hit almost $50 an ounce again like it did in April 2011! So, what can you do to make sure you get the best silver coin prices online? Start with an understanding of how silver prices are determined!
Changes in the price of silver can happen when there are fluctuations in:
- Silver supply and demand
- Silver's industrial uses
- The economy, at home and abroad
- The strength of the U.S. dollar
- Gold prices
- Interest rates
- U.S. government policies
Silver Supply and Demand
Understanding the economic concept of supply and demand is foundational to understanding how the price of silver moves. In general, demand refers to how much silver is desired by buyers. Supply refers to how much silver is available to meet that demand. As demand for silver increases, so can silver prices.
Silver's Industrial Uses
While related to silver supply and demand, this price factor is important enough to stand on its own. Silver is a precious metal and an industrial metal. It's used in cell phones, solar panels, electrical power switches, machinery control panels, batteries, radiography, and other industrial applications. Changes in technology in any one of these sectors can influence the price of silver. As industrial demand for silver increases, so can silver prices.
The Economy, At Home and Abroad
Prices for industrial metals move along with signs of rising or falling economic growth. Therefore, the price of silver moves, too! When the economy is strong, people may flock to buy products that rely on silver, like electronics, jewelry, and technology. When the economy is struggling, buyers can turn to silver coins and bars as a safe haven and buffer against more volatile assets.
The Strength of the U.S. Dollar
The price of silver tends to have an inverse relationship with the dollar. A strong dollar can put pressure on silver prices. Veteran silver buyers will often watch for the dollar to strengthen and buy silver when prices are most competitive.
Gold and silver prices have long been related, though the relationship is often debated. In general, silver prices tend to follow gold prices. Some precious metals enthusiasts rely on the gold-to-silver ratio to time their silver purchase.
The gold-to-silver ratio measures how many ounces of silver it takes to buy an ounce of gold. A smaller number indicates that silver is outperforming gold. A bigger number means that gold is outperforming silver.
Learn More About Silver Prices
Precious metals education is our top priority. Whether you're looking to understand silver prices before you buy silver, or you want to keep tabs on your current silver portfolio, our experienced Account Executives can help. Call 1-844-307-1589 to learn more about silver prices today and tomorrow, and the silver products that may best fit your financial goals.