Silver price per ounce for last year in USD

What is the silver price?

The price of silver, also known as 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 made up of the spot price and the margin (sometimes called “premium”), which is the part of the price covering our reseller’s 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 silver market. One troy ounce represents 31.1 grams of silver. Unless stated otherwise, the current price of silver will always be indicated in Troy ounces.

What moves the price of silver?

The silver prices are moving according to a combination of supply, demand from industry and investors, 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 (currencies) 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.

You can follow the historical silver prices in our chart page above to have a look at the evolution of the silver prices throughout history.

How are silver bars and silver coins prices set?

When buying silver, you have the choice between buying bars or coins. These two types of products are different and there are a few things you need to know before buying silver.

Currently, there are many types of silver bars circulating the world's precious metal market. Buying silver bars is one of 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.

On the other hand, 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.

How is the silver price set?

Silver prices fluctuate daily, as they move separately from the stock market. Silver 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.

You can follow the historical silver prices in our chart page above to have a look at the evolution of the silver prices throughout history.

The price of a silver bar or a silver coin contains three main elements: the metal price, the margin (also called “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 or coin will have a higher or a lower metal price.

Finally, the margin is the part of the price of your product that will come back to GOLD AVENUE to pay for production and operational 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 and silver coins tend to have slightly higher margins than cast bars, as it takes into account the artistic value of the product. Silver bars come in many shapes and sizes, including a 1kg silver bar.

Should I invest in physical silver?

If you are thinking about buying silver, then you are in 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 silver 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 bars or silver coins?

At GOLD AVENUE, we offer a wide range of silver coins and silver bars, such as the 1 oz silver Canadian Maple Leaf coin or the 1 kg silver bar. Buying coins or bullion will depend on many factors. Coins are often legal tender, which means that they have a legal value. They are issued by mints in certain countries.

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.

Buying coins will allow you to resell them separatly, which will give you more liberty when selling them.

On the other hands, PAMP Suisse 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. The idea to buy silver bars online might be a good way to start one's precious metals investment journey.

How can i sell my silver products?

When you want to sell your silver, you first need to check what is the silver price today. As we said before, the silver price is more volatile than gold and is influenced by many other factors.

That's why selling your silver can be more stressful than selling gold, and you need to be prepared for this higher level of volatility. With GOLD AVENUE, you can immediately resell your silver at the current metal price. Remember that when buying silver, the price you pay is made up of the metal price and the margin, which is the part of the price covering the production costs and the GOLD AVENUE margin.

When selling your products on GOLD AVENUE, your selling price will be defined at the time you confirm the transaction. Moreover, GOLD AVENUE does not charge any fees for selling your product which are already stored in our insured vaults.

So check the price of silver today on our silver price chart, and resell your products whenever you want.