Silver Price

Daily Silver Price
$16.94
per troy oz.
Last Updated: November 22, 2017, 2:00 am
Prices updated daily.

Among the ancients, silver comes second to gold in beauty, value, and importance. It has been used and valued for thousands of years, and it functioned as currency, ornamentation, and material for various implements and tools.

But it was the Romans who really took to the use of silver. Their miners were so efficient that they produced a peak of 200 tons per year, and their economy circulated as much as 10,000 tons by the middle of the 2nd century AD. That’s about 5 to 10 times as much silver as the amount that circulated in medieval Europe and the Caliphate in 800 AD.

And yet today we still use it. It’s easy to see why, because modern science has discovered properties beyond its rarity and beauty. Among metals, it is the most ductile which means it’s the easiest to draw into very thin wires. It is also the most malleable of metals, and that means it is not difficult at all to hammer the metal into thin sheets. And it conducts electricity and heat better than all the other elements. It even reflects light very well, and it doesn’t readily react to many compounds including water and acids.

Below is the historical Silver price per troy oz.

YearPricePrice (Inflation Adjusted)Change
1792$1.293$63.830%
1793$1.293$61.680%
1794$1.293$55.610%
1795$1.293$48.620%
1796$1.293$46.170%
1797$1.293$47.980%
1798$1.293$49.600%
1799$1.293$49.600%
1800$1.293$48.610%
1801$1.293$47.980%
1802$1.293$56.910%
1803$1.293$53.980%
1804$1.293$51.700%
1805$1.293$52.060%
1806$1.293$49.930%
1807$1.293$52.810%
1808$1.293$48.610%
1809$1.293$49.600%
1810$1.293$49.600%
1811$1.293$46.460%
1812$1.293$45.880%
1813$1.293$38.230%
1814$1.453$39.0911%
1815$1.477$45.322%
1816$1.323$44.44-12%
1817$1.293$45.88-2%
1818$1.293$47.980%
1819$1.293$47.980%
1820$1.293$52.060%
1821$1.293$54.570%
1822$1.293$52.870%
1823$1.293$55.470%
1824$1.293$59.360%
1825$1.293$58.330%
1826$1.293$61.520%
1827$1.293$59.360%
1828$1.293$59.360%
1829$1.293$58.330%
1830$1.293$62.660%
1831$1.293$60.420%
1832$1.293$59.360%
1833$1.293$58.330%
1834$1.293$66.340%
1835$1.293$56.390%
1836$1.293$49.750%
1837$1.350$49.064%
1838$1.296$47.76-4%
1839$1.296$47.760%
1840$1.296$56.520%
1841$1.292$56.340%
1842$1.293$61.510%
1843$1.292$66.280%
1844$1.292$65.010%
1845$1.292$62.590%
1846$1.292$58.270%
1847$1.292$58.270%
1848$1.292$66.270%
1849$1.292$62.590%
1850$1.292$66.270%
1851$1.292$56.330%
1852$1.292$56.330%
1853$1.292$52.810%
1854$1.292$52.810%
1855$1.292$50.450%
1856$1.292$49.710%
1857$1.294$48.360%
1858$1.292$48.990%
1859$1.292$53.660%
1860$1.292$55.420%
1861$1.292$53.660%
1862$1.709$64.8024%
1863$1.952$65.4712%
1864$2.939$80.9434%
1865$1.889$48.45-56%
1866$1.766$44.86-7%
1867$1.741$44.65-1%
1868$1.747$46.640%
1869$1.569$43.21-11%
1870$1.430$41.11-10%
1871$1.412$41.50-1%
1872$1.449$42.123%
1873$1.421$42.24-2%
1874$1.411$41.95-1%
1875$1.394$43.44-1%
1876$1.315$42.53-6%
1877$1.212$41.85-8%
1878$1.100$40.73-10%
1879$1.144$39.504%
1880$1.116$37.03-3%
1881$1.129$35.621%
1882$1.099$35.55-3%
1883$1.110$36.841%
1884$1.084$37.43-2%
1885$1.032$36.13-5%
1886$1.006$35.21-3%
1887$0.970$33.05-4%
1888$0.936$31.89-4%
1889$0.959$33.112%
1890$1.056$35.989%
1891$0.956$32.57-10%
1892$0.840$29.01-14%
1893$0.703$24.27-19%
1894$0.615$21.83-14%
1895$0.677$24.369%
1896$0.664$23.90-2%
1897$0.590$21.23-13%
1898$0.603$21.402%
1899$0.600$20.44-1%
1900$0.648$21.797%
1901$0.558$18.28-16%
1902$0.487$15.56-15%
1903$0.560$17.8913%
1904$0.612$19.318%
1905$0.655$20.167%
1906$0.696$20.446%
1907$0.552$15.67-26%
1908$0.494$14.03-12%
1909$0.529$14.237%
1910$0.553$14.874%
1911$0.556$14.641%
1912$0.640$16.3513%
1913$0.584$14.62-10%
1914$0.503$12.47-16%
1915$0.561$13.7710%
1916$0.758$17.2426%
1917$0.899$17.4216%
1918$1.019$16.7312%
1919$1.336$19.1424%
1920$0.655$8.12-104%
1921$0.663$9.181%
1922$0.643$9.48-3%
1923$0.650$9.421%
1924$0.692$10.036%
1925$0.692$9.800%
1926$0.538$7.54-29%
1927$0.583$8.318%
1928$0.577$8.37-1%
1929$0.488$7.07-18%
1930$0.330$4.90-48%
1931$0.304$4.96-9%
1932$0.254$4.60-20%
1933$0.437$8.3342%
1934$0.544$10.0620%
1935$0.584$10.577%
1936$0.454$8.10-29%
1937$0.438$7.54-4%
1938$0.428$7.52-2%
1939$0.350$6.24-22%
1940$0.348$6.16-1%
1941$0.351$5.921%
1942$0.448$6.8122%
1943$0.448$6.420%
1944$0.448$6.310%
1945$0.708$9.7537%
1946$0.867$11.0318%
1947$0.746$8.29-16%
1948$0.700$7.20-7%
1949$0.733$7.635%
1950$0.800$8.228%
1951$0.880$8.389%
1952$0.833$7.79-6%
1953$0.853$7.912%
1954$0.853$7.850%
1955$0.905$8.376%
1956$0.914$8.331%
1957$0.898$7.92-2%
1958$0.899$7.710%
1959$0.914$7.792%
1960$0.914$7.660%
1961$1.033$8.5712%
1962$1.199$9.8414%
1963$1.293$10.487%
1964$1.293$10.350%
1965$1.293$10.180%
1966$1.293$9.900%
1967$2.060$15.2937%
1968$1.959$13.96-5%
1969$1.807$12.20-8%
1970$1.635$10.44-11%
1971$1.394$8.53-17%
1972$1.976$11.7229%
1973$3.137$17.5137%
1974$4.391$22.0929%
1975$4.085$18.83-7%
1976$4.347$18.946%
1977$4.706$19.268%
1978$5.930$22.5521%
1979$21.793$74.4673%
1980$16.393$49.35-33%
1981$8.432$23.01-94%
1982$10.586$27.2020%
1983$9.121$22.71-16%
1984$6.694$15.98-36%
1985$5.888$13.57-14%
1986$5.364$12.13-10%
1987$6.790$14.8221%
1988$6.108$12.81-11%
1989$5.543$11.09-10%
1990$4.068$7.72-36%
1991$3.909$7.12-4%
1992$3.710$6.56-5%
1993$4.968$8.5325%
1994$4.769$7.98-4%
1995$5.148$8.387%
1996$4.730$7.48-9%
1997$5.945$9.1920%
1998$5.549$8.44-7%
1999$5.218$7.77-6%
2000$4.951$7.13-5%
2001$4.370$6.12-13%
2002$4.600$6.345%
2003$4.876$6.576%
2004$6.671$8.7527%
2005$7.316$9.289%
2006$11.545$14.1937%
2007$13.384$16.0014%
2008$14.989$17.2711%
2009$14.673$16.97-2%
2010$20.193$22.9927%
2011$35.119$38.7443%
2012$31.150$33.65-13%
2013$23.793$25.32-31%
2014$19.078$19.99-25%
2015$15.680$16.41-22%
2016$17.144$17.549%
2017$16.981$16.98-1%

Price History of Silver

Silver price
Silver coins and bullions

This metal has seen much use as a currency. The ancient Egyptians and Greeks, the Babylonians, and the Roman Empire used it extensively as currency. This continued through the medieval ages in Europe.

By the Industrial Age in the 18th and 19th centuries, the use of paper money was on the rise, and the price of silver was generally stable. From the birth of the US up to its Civil War, its price was $1.30 per ounce. The Civil War caused the price to fluctuate wildly, but afterwards its value declined steeply. During the Great Depression, its price was at $0.25 an ounce. It only crossed passed the $1 per ounce mark in 1960.

The price rose steadily during the 1970s, which culminated in the notorious attempt of the Hunt brothers to corner the silver market. They bought physical bars as well as futures contracts which were settled on delivery with silver as well. They even borrowed money to expand their investments, and exhorted other funds and investors to join the bandwagon. All their efforts caused the price to jump to more than $50 an ounce.

Soon the US government stepped in, and they were able to use methods that thwarted the brothers. Eventually on March 27, 1980 the price fell from $48.70 to less than $11 an ounce. The day became known as Silver Tuesday.

Today the price of silver is about $15.36 an ounce. Compared to the price of gold at $1,269.10 an ounce, you get a ratio of 82.6 parts silver per unit of gold. In 1792, the US government fixed the ratio at 15 to 1.

Silver as Investment

Compared to gold, silver prices can be very volatile. But you can invest in the metal in several ways.

  • You can buy it in physical form, as bars and coins. You can find these forms in trade shows and even with online bullion traders. It has enough value in these bars and coins to make storage fees worthwhile. You can also buy certificates of ownership without having to transfer the metal physically. You can also buy accounts in Swiss banks, which you can then trade. In this form, it’s a hedge against inflation, especially in these times when many governments feel free to print money at will.
  • You can participate in exchange-traded funds that allow exposure to silver in a convenient way.
  • You can buy futures contracts, in the COMEX subsidiary of the New York Mercantile Exchange.
  • Or you can trade in the stocks of mining companies, which usually mine many types of metal instead of a single metal alone.

If you’re going to be investing in this metal, you may want to do so soon. Many predict a sudden rise in price at any time.

Purposes Used For Silver

Most people are somewhat aware of the use of silver as a financial tool for investment. And many also know that it has its place in jewelry. About 10% of all silver is used for coins, jewelry, and other types of art.

For the longest time almost half of the silver in the US went into making photographic film but that declined with the rise of digital photography. But it is still used extensively in various electrical and electronic devices because it is the most effective metal in conducting electricity.

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The displayed metal prices are estimates only. They are aggregated using multiple sources. Actual prices may vary based on region, supplier, or various other factors.