Silver Prices Today, Live Spot Prices & Historical Charts
Silver Prices Today
|Silver Spot Price||Spot Change|
|Silver Price per Ounce||$15.66||0.04||
|Silver Price per Gram||$0.50||0.00||
|Silver Price per Kilo||$503.48||1.29||
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Money Metals Exchange's interactive silver chart allows you to check the price of silver today or historical silver prices dating back 20 years. Hover over the chart to see the spot price for that particular day.
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Discover the Basic Truth about Silver Prices
It is easy to understand the universal appeal of silver. Beginner and expert investors around the world choose silver more than any other precious metal. The price of silver per ounce is lower than gold, making it accessible for beginners with a limited budget.
Experienced investors recognize silver has value as both an investment and monetary metal. Diverse holdings are a key to financial success. Discover the basic truth about silver prices and what makes silver such an alluring investment opportunity.
What Is Silver?
A form of nuclear fusion produces silver. A supernova explosion is a key factor in the existence of this precious metal. Silver is slightly less malleable than gold. It has an appealing metallic luster that takes a high degree of polish.
Silver has a high degree of electrical conductivity, but copper is used more for electrical purposes because it costs less. Silver reflects almost all light and is the world’s best natural biocide, killing over 400 bacteria and viruses.
Silver is a savvy investment because it is used for countless purposes, including dentistry, medicine, windows, coins, bullion, jewelry, silverware, air conditioning and many more. The unique properties of silver make it an essential and timeless commodity in many industries.
What is Ag on the Periodic Table?
The symbol Ag on the periodic table stands for silver. Silver's atomic number is 47. Its density is 10.5 g/cm3, making silver denser than copper and most base metals but not as dense as platinum or gold.
Silver's low cost compared to platinum and gold along with its unique metallic properties make it indispensable in a variety of industrial applications. Silver can attain a higher polish than any other metal. No other metal possesses as much reflectivity or electrical or thermal conductivity as silver. That's why silver is essential for the high-tech industry. Silver also finds use in the medical applications as a biocide.
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Silver Yesterday and Today
It is estimated silver coins could be the oldest mass-produced form of coinage. Since the time of the Greeks, people have used silver coins. Ancient Persian coins date back to between 612-330 BC.
Collectible coins range in value, based on the demand, condition, and rarity. Silver coins have been used as currency around the world. Silver bullion coins and bars, as well as silver paper, are a solid investment, regardless of inflation.
The value of money fluctuates based on each government. Silver is an international way to store value. Any investment conversation will usually focus on the unpredictability of currency and stocks. For this reason, people continue to invest in precious metals such as silver and gold products, as well as platinum and palladium.
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Beyond the Silver Standard
Decades ago, the silver standard came to an end in developed countries, which means silver was no longer considered legal tender. Some countries, including the USA, continue to mint bullion and collectible coins.
An example is the American Silver Eagle, which has a nominal face value. The Canadian Silver Maple Leaf coins are legal tender valued at about USD $5 per ounce. Privately minted coins are referred to as silver rounds, which are not legal tender.
However, hard money enthusiasts may use them as investment vehicle. Most have commemorative designs and have a weight of 1 troy ounce of silver.
The current demand for silver is for industrial applications and investment purposes, including bullion coins and exchange traded products. There continues to be a strong market for silver around the world, as evidenced by the averages and NYSE.
Get to Know the Spot Price of Silver
When investors check the NASDAQ live feed in the morning or go online to visit a website to find out the current value of silver, the spot price is what matters. This refers to the price silver can be exchanged and delivered right now.
"Whether an investor is buying, trading, or selling silver, it is important to verify the spot price."
It is the current trading value of silver and other precious metals, as well as certain other commodities. Whether an investor is buying, trading, or selling silver, it is important to verify the spot price. COMEX is reliable source to access indices for the price of silver, as the prices today will not be the same as yesterday, an hour ago, or in the future.
Smart investors check the chart for current rates right before they buy precious metals. They also verify the reliability of the resources they use, rather than relying on a comment published by a writer who might not be aware of the spot price of silver today.
From am to pm, the latest daily charts are important to make smart purchases from dealers who reply instantly. A skilled investor gets to know the markets, including real-time ratio on prices for gold, silver and oil, and has a calculator handy at all times. There are also online precious metal calculators to verify an amount quoted to try to avoid a significant loss before signing any contracts.
How is the Silver Spot Price Determined?
Traders determine silver and gold spot prices on futures exchanges. Metals contracts can change hands in London and Shanghai when U.S. markets are closed. But the largest and most influential market for metals prices is the U.S. COMEX exchange. The quote for immediate settlement at any given time is effectively the spot price.
Spot (paper) prices can sometimes diverge from real-world pricing in the markets for physical precious metals. For example, during periods of extreme stress in markets it may be impossible to obtain physical metal anywhere near the quoted spot price. Premiums on retail bullion products may surge as a consequence. When the physical market diverges from the paper market, wholesale over the counter prices may be more realistic than spot prices.
Why Can't I Obtain Silver at the Spot Price? Why Do I Have to Pay a Premium for Silver Coins?
Retail bullion products including bars, rounds, and coins carry small premiums over spot prices. The premium includes minting costs plus the dealer's profit. The premium but also incorporates any wholesale premiums the dealer must pay to acquire the inventory.
Premiums vary according to market conditions. When demand is soft, premiums may fall, especially on secondary market products such as pre-1965 U.S. silver coins. Secondary market products - items that are being resold rather than sold for the first time as brand new - can often be purchased at a discount to newly minted products and very close to actual spot prices.
Why are Silver prices dropping, yet the price of Silver premium isn't following suit?
Premiums represent a combination of factors. For newly minted coins, rounds, and bars, the cost of manufacturing is a major factor. Mints and refiners set manufacturing charges based on the cost of labor and equipment, not on the spot price for the metal. These costs do not follow the silver price downward – or upward for that matter.
Another factor in premiums is demand. And demand for physical silver is setting records – the opposite of what is happening in the markets for paper silver. Dealers are bidding aggressively for physical inventory, putting upward pressure on premiums.
This dynamic is compounded by short supply when it comes to bullion products such as pre-1965 U.S. silver dimes, quarters, and half dollars. Mints and refiners aren’t producing any more.
Both the bid and the ask premiums for the pre-1965 coins are significantly higher than in 2010 – the last time silver traded below $20/oz. The difference is in investor perceptions.
In 2010, silver was nearing recent highs and more people were willing to sell. Currently, silver spot prices are less than half the 2011 highs and virtually everyone who owns pre-1965 coins is holding out for a recovery.
Just make sure your dealer is pricing competitively and pay attention to the premiums being offered should you wish to sell. Beyond that, higher silver premiums signal the existence of a strong market for physical, coins, rounds, and bars, and that’s good news for investors.
Silver Investment Vehicles
Silver bullion is available in bars, rounds, and coins in various sizes that are purchased by gram or ounce. There are many different ways to buy silver.
Silver certificates are referred to as paper silver, and are one way to invest in this precious metal. Exchange-traded products and silver certificates are typically easier to store. In the past, U.S. dollars have been issued as silver certificates. However, since 1965, they can no longer be redeemed for physical silver.
Silver can also be a purchased in your IRA through a precious metal custodian. This is another way of contributing a dollar amount to this account to meet a certain required maximum for the year.
Silver Bullion Bars
Bullion bars, especially large ones, can be stored in a safe, at a bank, at home or you can leave them with a dealer or bank for storage. Sizes range from 1 oz troy bars to 10 ounces, as well as 100 oz bars, 1 kilo bars, and 1000 oz troy bars that weigh about 68.6 pounds.
There are fine silver and so-called “junk silver” coins. Junk silver is another phrase to describe pre-1965 dimes, quarters, and half dollars – the older circulating U.S. coins that contain 90 percent silver. They weigh 24.71 grams of per dollar of face value, with 22.239 g of that weight being actual silver (the rest is copper). They don’t have collectible value, but are worth their silver content.
Modern issue silver Eagles as well as Silver Maple Leaf coins are one troy ounce, or 31.1035 g of pure silver.
Silver Futures & Options
Various exchanges worldwide trade derivatives, such as silver futures and options. Often they are traded on COMEX and currencies may vary.
The Volatile Nature of Silver
Much like other commodities, the price of silver is based on supply and demand and speculation, which means there will be risks. There is a volatility in silver because of fluctuations in use and production. Often what goes on at mining fields and in industry can cause a wide range of valuations in the market.
Investors must address these issues to make a solid decision about when to buy, sell and trade silver products. Values have gone up and down over the past few decades. However, the price of silver has continued to rise over the most recent decade and continues to gain momentum. Each day, month and year it fluctuates and must be calculated carefully to realize a profit when purchasing silver bullion.
Currently, silver is significantly undervalued versus gold on a historical basis. Throughout most of time, it took 15 to 30 ounce of silver to purchase one ounce of gold. In recent years, that ratio has ranged between 40:1 and 70:1. So as the bull market in silver resumes, we expect this white metal to vastly outperform gold and return, possibly by four-fold or more.
David Morgan and many other experts have forecasted that silver will rise above $100 per ounce in today’s dollars, and substantially higher if the dollar continues to decline in value as we expect. Some have made price forecasts for silver to rise into the hundreds of dollars, particularly as supply continues to constrict while monetary and industrial demand explodes.
Where Will Silver Prices Go in 2019?
How to Start Buying Silver
Now that you are armed with more knowledge about silver, it is time to purchase this timeless precious metal yourself. Silver is affordable, making it an accessible investment opportunity for beginners or people with a small sum of money to invest. Holding is for a limited time and cannot be extended, so buy now to get the current market prices.
Know your rights before you sign any contract. Buy silver from a warehouse or LLC for optimum quality and authenticity assurance. Now is the perfect time to make a solid investment to help guard against inflation and your financial portfolio.
Take advantage of the services provided by a specialist at Money Market Exchange today. Talk to one of our specialists to discover more about the advantages of owning silver, get quotes, and learn how simple it can be to get started!