Silver price per ounce for last year in USD

This silver price chart shows live data for physical silver.
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Silver price FAQs

To better understand how the silver price works and what products to buy, knowing a few facts can be useful.

What is the spot price of silver?

The spot price of silver is the current price silver can be bought and sold for on the market. It is usually calculated in Troy ounces but can also be given in grams or kilograms. The price of a silver product is the spot price plus the premium, which is the part of the price covering our margin, production, and operational costs.

What is a troy ounce of silver?

A Troy ounce of silver is the official unit of measurement in the professional gold market. One troy ounce represents 31.1 grams of silver. Unless stated otherwise, the price of silver will always be indicated in Troy ounces.

What moves the price of silver?

The price of silver moves depending on a combination of supply, demand, and investor behavior. Its value tends to increase along with demand. Its supply, however, tends to remain rather constant, making it a famous hedge against inflation when the supply of paper money starts increasing. The spot price fluctuates throughout the day, making it important to follow current events and market conditions, as they will affect your buying and selling price for precious metals.

How are silver coins prices set?

Silver coins are a very unique investment. They are sometimes considered legal tender and are produced and recognized by the issuing government. The coins are always labeled carefully with the correct year of issue, the silver purity, and the weight of the coin. Silver coins prices fluctuate daily, as they move separately from the stock market. Silver coin prices can be affected by several different factors. Factors like rarity, shifts within the money market and the stock market, a recession, or the threat of a recession, elections, political movement, or even geopolitical issues. These are all factors that can influence the price of silver coins.

How are silver bars prices set?

Currently, there are many types of silver bars circulating the world's precious metal market - meaning there are endless possibilities to pick from. Buying silver bars is the most popular way of investing in the precious metal market. Their price is set based on their quality, craftsmanship, weight, and sometimes year of issue and rarity. The price of a silver bar contains three main elements: the metal price, the premium, and the VAT. Silver is not exempt of VAT, and while countries like France will apply a 20% VAT, Switzerland has the lowest tax rate in Europe with only 7.7% VAT. The metal price is directly based on the spot price which is the most recent price of silver on the market. Depending on its weight and quality, a silver bar will have a higher or a lower metal price. Finally, the premium is our margin, it is the part of the price of your silver bar that will come back to GOLD AVENUE to pay for production and others costs related to selling the bar. The margin can vary for each product depending on its level of craftsmanship for example. This is why minted bars tend to have slightly higher premiums than cast bars, as it takes into account the bar’s artistic value.

Should I invest in physical silver?

If you are thinking about investing in silver, then you are at the perfect place! Silver is the most valuable and popular commodity available on the market. GOLD AVENUE has a wide and beautiful selection of silver coins, ingots, and bars available for you to start your precious metal journey. You can choose between the most popular silver coins on the market: the classic American Eagle coin from the US Mint or the stunning Canadian Maple Leaf from the Canadian Mint. If perhaps coins aren’t what you are looking for, you can find the products for you in gold cast bars or minted bars from the world-renowned Swiss refinery PAMP. We are also the official online retailer of the most famous minted bar: the classic Lady Fortuna from PAMP. Silver is a timeless and elegant commodity that every investor should consider to diversify their investment portfolio with.

Should I buy silver bullion bars?

Silver bars are considered a unique and interesting investment in the precious metal market alongside silver coins. Silver bars are generally much larger in size, and heavier in weight than coins. Compared to coins, there is not as much variety available with silver bars in terms of shapes and formats either, simply due to their ‘set size’, however, their classic designs are renowned worldwide. Silver bars are considered to carry intrinsic value, as there will always be a market available for silver. You can always invest in silver to diversify your investments, prepare for your future, or as a gift to your family for a generous investment or savings opportunity.

Should I buy silver bullion coins?

At GOLD AVENUE, we offer a wide range of silver coins from the world’s most reputed mints, each with its own unique individual designs. There are many mints available worldwide such as the Royal Mint, the Monnaie de Paris (French Mint), the Swiss Mint, the US Mint, etc. Silver coins also vary in size, weight, valuation, and style. Coins can also be limited editions or collectibles, hence, making each purchase unique. Collectible and limited edition coins are often used as gifts or as investments by collectors.