Silver Spot Price Today

The fluctuating spot price of silver gets mostly set by COMEX headquartered in New York and gets based on the amount of the highest traded near-term silver futures contracts. As with the spot price of gold, the spot price of silver is relatively the same around the world, even though it trades in separate exchanges valued in various other fiat currencies.

Note that the NYMEX in New York mostly sets both platinum prices and palladium prices daily.

The silver spot price market is open almost 24 hours per trading day, with a 60-minute closed period each day between 5:00 EST and 6 PM EST.

The silver price per ounce, therefore, changes almost always, and you must have an up-to-date silver price chart to compare the current silver price to historic silver prices. This page will provide you with information about the overall trend, whether moving up, down, or staying static.

The spot price for silver is the theoretical cost right now for one troy ounce of .999 fine silver bullion. However, the price can change by the minute, so lower spot prices do not get considered accurate when locking in a trade. It is crucial to know precisely what the silver spot price is at the moment you want to buy or sell silver bullion.

The primary benefit of tracking live silver prices is that it provides you with a baseline on the cost of your silver investment. For instance, by knowing the price of silver per ounce, you can then determine if a particular dealer is charging too high a premium, whether now is the right time for you to buy silver if it would be wise to sell silver you’re holding, and more. We use industry-leading technology to ensure that our live silver prices are always up to the second, to empower our customers in their investing needs.

Silver prices quoted here at SD Bullion are always in US dollars. Even if you’re investing in silver in another country, the spot price will be in US dollars and then converted into your local currency. The US dollar is the international standard for gold, silver, and other precious metals, and it allows standardization across all nations. You’ll also find that most silver price charts show the cost of a troy ounce of silver. However, others may show grams or fractional weights. You must make sure that you’re comparing and tracking the same information (ounce to ounce comparisons, rather than an ounce to a gram comparison, for instance). Inaccurate comparisons can lead to mistakes with your investing strategy.

SILVER vs. FIAT CURRENCY KEY

Silver vs. USD = Silver vs. US dollars, Silver vs. fiat US dollars
Silver vs. ARS = Silver vs. Argentine pesos
Silver vs. AUD = Silver vs. Australian dollars
Silver vs. BRL = Silver vs. Brazilian real
Silver vs. CAD = Silver vs. Canadian dollars
Silver vs. CHF = Silver vs. Swiss francs
Silver vs. CNY = Silver vs. Chinese yuan, Silver vs. yuan, Silver vs. renminbi
Silver vs. EUR = Silver vs. euros
Silver vs. GBP = Silver vs. pound sterling, Silver vs. British pounds
Silver vs. IDR = Silver vs. Indonesian rupiah, Silver vs. rupiah
Silver vs. INR = Silver vs. Indian rupee, Silver vs. Rupee
Silver vs. KRW = Silver vs. South Korean won, Silver vs. won,
Silver vs. JPY = Silver vs. Japanese yen, Silver vs. yen,
Silver vs. MZN = Silver vs. Mozambican metical, Silver vs. metical
Silver vs. NZD = Silver vs. New Zealand dollars, Silver vs. NZ dollars
Silver vs. RUB = Silver vs. Russian ruble, Silver vs. rubles
Silver vs. TRY = Silver vs. Turkish lira, Silver vs. lira,
Silver vs. ZAR = Silver vs. South African rand, Silver vs. rand

As the spot price for gold and the platinum price, silver prices today are the similar no matter where you might be around the world. However, this only applies to the silver spot price.

Silver bullion dealers tack on a premium to their silver bullion investment offerings, and those premiums can vary significantly from one dealer to another.

Know the current price of silver first, and then you’ll have the foundation to begin comparing silver bullion dealer options.

Only marginally. Collectible coins do have some grounding in the price of silver, but that is not the whole story. Rounds and bars get more closely tied to the spot price. Collectible coins have other factors that contribute to their value (or detract from it), including rarity, condition, minting errors, and more. For new investors, it is highly suggested to start with rounds or bars, which are not collectible and are valued only for their content of the precious metal. There are also newer collectible coins, such as the American Silver Eagle and the Canadian Silver Maple Leaf which are less rare, and thus make better choices for new investors more interested in hedging their wealth against devaluation.

New investors studying silver price charts to determine the current silver price might be curious about the bid and ask prices. The bid price is what the dealer works off of when you're looking to sell silver to that dealer. The 'ask price' is what the bullion dealer works off of when you're looking to buy silver from that dealer.

The difference between these two prices, called the bid-ask spread, is also essential. The narrower the gap, the more price-competitive the market and the fewer fees are involved, the less price appreciation required to 'break even.' The wider the bid-ask spread gap, the more charges are applied, and the less competitive the specific precious metal product may be.

There are many options when it comes to investing in silver. If you’re looking for the lowest price of silver per gram, your best option is to go with silver bullion bars.

The larger the silver bullion bar (100 oz) you purchase, the lower your cost per ounce will be.

Kilo silver bars (32.15 troy oz) also offer some of the lowest costs per ounce on the market, but they are so large that they might be out of financial reach for some smaller silver investors.

You can also invest in silver bullion rounds, which look like coins but are not official legal tender in any country. These typically do not carry any numismatic value, so they are tied closely to the price of silver, rather than being inflated by sentiment, rarity, or condition. So long as they contain the specified amount of silver (one troy ounce is the standard), then retail prices should be predictable.

At one point in 2011, the price of silver per troy ounce approached $50. It has fallen since then and seems to have bottomed in early 2016. While it is not as low as it once was, it has not yet regained the heights it once enjoyed. This is good news, as it not only makes it simpler to make an accurate silver price forecast, but it allows more investors than ever before to take advantage of this valuable precious metal while the price of silver is still low.

It’s important to understand several factors involved with silver bullion buying or investing in any precious metal for that matter. The silver spot price is typically not the exact price you will pay for any type of silver bullion anywhere. The silver spot price is essentially is the cost of an ounce of silver before being cast into bars, rounds or coins. Additional work adds additional costs and price premiums per product. Then, other additional supply-demand factors affect the overall cost.

The reason that the price of silver coins is higher than the price of silver per ounce is due to the additional quality, artistry, and effort that goes into minting coins. Bars and rounds are plain and cost less to manufacture. That gets reflected in the relative price of each silver product. There’s also the chance that some coins will have historical value. These are primarily older coins, not currently minted ones. Once a government stops minting coins, their value rises over time.

You’ll find several nations that mint their silver coins today. Some good examples of these types of silver coins include the Mexican Silver Libertad, the Silver Krugerrand, the Australian Silver Kangaroo, and many others, as well. The reason these coins have different pricing than what you’ll find in a silver price chart for the price of silver per ounce is that they are 1) coins, not rounds and 2) they are minted as both legal tender and carry some collectible value. While they take only minimal numismatic value when first created, that value increases over time as they become rarer and harder to find on the market.

Yes, like gold, the silver spot price is used around the world for 24-hours per day trading.

The silver market closes only for 60 minutes per day on weekdays, from 5:00 PM EST to 6 PM EST. The COMEX mainly sets the price of silver per ounce, and other markets too (e.g., LBMA).

Although silver spot prices will usually be adjusted locally to show the local currency price per troy ounce, rather than the fiat US dollar price, silver price discovery mainly originates in fiat US dollars, as are many other investment options.

The following chart shows the east vs. west silver price bias, in which the silver price tends to go up overnight in Asian trading versus sideways and or down during western trading hours (LBMA fix AM and PM and New York trading hours on the COMEX).

The eastern silver price bias upwards remains empirically evident in the 21st Century. The following east vs. west silver price chart covers the full fiat currency era, from 1970 to 2019 silver market data using basic compounding arithmetic.

⬇ Brief EXPLANATION of WHAT this East vs. West Daily Compounding Silver Price Chart IMPLIES ⬇

Using the same east vs west chart above, except this one not in logarithmic format. We note some past timeframes when it would have been well-timed to sell some silver bullion positions for another asset class perhaps at the time.

When will the blue eastern and red silver spot price again converge? 

When you use a silver price chart to compare today’s silver price with the silver price history, what you’ll be seeing is the value of a single troy ounce of silver. A troy ounce is different from the standard ounce we use for weights and measurements. It’s slightly heavier (it equals 1.09711 standard ounces). Always ensure that the silver price chart you’re studying lists silver by the troy ounce and not by grams or any other measure.

The price of silver continually changes, sometimes by the minute. However, it also goes through cyclical ups and downs. A few years ago, silver hit a historic high price. Since then, and coupled with the "recovery" of the global economy, the price of silver has come down quite a bit off it's high. By understanding how silver prices per ounce vary over time, you can begin to predict future movements and make your silver price forecasts to inform your investing efforts.

It’s important to understand that all forms of investing come with some element of risk. With that said, in our opinion, investing in precious metals carries less risk than playing the stock market, or investing in mutual funds, as well as most other options. To safeguard yourself and your financial future, you must do several things:

• Always Track the Spot Price of Silver: If silver is your metal of choice, then you’ll need to ensure that you always have access to up to the minute, accurate silver prices. A silver price chart can allow you to see the spot price of silver today, yesterday, last week, for the preceding six months, or even a full year and more. Our silver price chart is always accurate and always up-to-date. We also provide advanced functionality to allow you to use custom periods to ensure that you’re making the soundest possible decision.
• Diversify: Precious metals are highly beneficial, but you should never put all of your eggs in one basket, to quote the saying. Diversification is the key to hedging your wealth against devaluation and the effects of inflation, and silver should be just one of your options.
• Know Silver Bar Prices for Different Sizes: As the size of the bar of silver increases, the cost of silver per ounce decreases. By tracking silver bar prices for different weights, you can maximize your investment options. New investors might be okay with buying silver by the ounce, but experienced investors with more capital and in need of more exceptional hedging capabilities might do better investing in kilo silver bars or 100 oz silver bars.
• Compare Silver and Gold Prices to Stock Valuation: With a diversified portfolio, most agree investors should have precious metals, stocks, bonds, and other options. As the economy changes and moves from a growth cycle and into a downturn, compare the silver and gold prices to stock valuations. You’ll see the price of gold and the price of silver began to rise. This offsets the loss you’ll experience on your stocks, bonds, and other traditional investments.

See in the following silver price chart below how silver prices have performed vs. other precious metal (PM) prices from 1970 to today measured in fiat US dollar per ounce prices.

The spot price of silver only includes the cost of that weight of metal without any refining or shaping. It does not involve putting it into the form of a round or bar, or the loss of turning the raw ore into a coin, complete with artwork. It also does not include the dealer premium applied to silver sales. With that getting said, it is still crucial that investors know not only the current spot price of silver but historical silver prices as well. Some dealers may include a higher markup than others on their products, and knowing the live silver prices helps you shop around better. Additionally, knowing historical silver prices lets you track and predict how the metal could perform. With this information, you’ll be able to make more informed decisions with your investing dollars, knowing when it is the optimal time to buy silver, sell silver, or hold your silver against market movements.

Sales taxes are largely only added to purchases of silver if you live in a state where local sales tax applies — currently, not all states in the US tax precious metals. If you are buying silver online and live in a country that does require this, the sales tax will likely get added to your order at checkout. Note that fees on silver bullion purchases are based on your billing address, rather than your shipping address.

Coins are very different from rounds and bars. Unlike silver rounds or silver bars, silver coins have an additional value that can make them more valuable than their weight of silver would dictate. For instance, a Silver Morgan Dollar from a scarce minting year that is in excellent condition would sell for much more than the price of silver. This factor can be shared because it is a rare collectible coin with considerable numismatic value. There are many other examples of this on the market as well. Even current silver coin prices have a higher premium applied to them due to their initial numismatic value. Collectible silver coins can be good options for investors interested in this path, but they can be much more costly than rounds and bars, so investors only interested in buying precious metals may wish to avoid them.

When dealers accept credit cards, they must pay fees to the credit card companies. These fees must get worked into the silver price for the silver industry to maintain profitability. This fact is true across the board, and with all credit card companies, although the fee amounts vary from one card company to another. When you pay with a check or a bank transfer, those fees do not apply, and the dealer can offer a lower silver bullion price overall. Paying with ACH or a check can allow you to save money on your silver bullion purchases. You may also want to consider paying with a money order or a cashier’s check, as these methods also do not incur a fee from the dealer. With that said, you will likely pay a fee for money orders and cashier’s checks from your bank. The amount will depend on where you purchase them.

No. Silver coins minted by national governments carry some face value - $1 for instance. However, that price is only nominal, and no one would use a silver coin to pay for something in the everyday world, simply because their silver content makes them much, much more valuable than their face value. In addition to that, the face value gets not factored into the silver coin's price. That value is based instead on the amount of silver in the currency, the coin’s condition, its rarity, and other factors that impace numismatic value. Note that this is not the case with rounds and bars, which are not typically not collectible, and do not have a face value, nor are they legal tender.

All dealers apply a standard, the fixed amount over the spot price of silver products. For instance, it might be $1 over the spot, or something else. This amount gets charged per ounce in most cases, and it will change over time based on fluctuations in the market as well as the supply and demand for each product. Note that different products may have dissimilar premiums. For example, Silver American Eagle coins minted at the US Mint may have a different premium applied than a one-ounce silver round or a 10-ounce silver bar.

While it might sound complicated, it is possible to make money selling silver to dealers. This statement applies to 90% junk silver coins, as well as silver rounds, bars, and more. However, if you wanted to buy an ounce of silver and then re-sell it to a dealer within a short time, the chances are good that you would lose money on the investment. It cannot get overstated that the way to make money with precious metals is to buy and hold. Watch the current silver prices and compare them to historical silver prices. When the silver rate rises beyond what you paid (including the dealer markup), you can then sell for a profit. Silver buyers, gold buyers and other precious metals investors understand that the long-term trends in the price of silver make it a much wiser decision to buy and hold for the long term, rather than attempting to make a short-term profit like in the stock market.

When you work with a reputable dealer, you’ll be able to lock in the offered price of silver for a limited time at the checkout page or over the phone. Note that this price will only get honored for a limited duration, and it will be specified. Doing so prevents the dealer from being over-exposed to daily market fluctuations. Once the time limit for the lock-in has gotten exceeded, the price will revert to the current prices of silver, if the price of silver has changed. We ensure that you have more than enough time to lock in the amount you want to pay. We also provide the most accurate, up-to-date pricing to keep you informed, as well as providing our customers with the ability to track historic silver prices and compare them to the silver price forecast.

Yes, here at SD Bullion, you can buy physical silver bullion in a range of formats, including silver rounds, silver bars, and silver coins.

We automatically lock in your silver prices at the checkout page, and you’ll see it depicted on the screen. Note that when ordering online, the current silver price is only locked in for 3 minutes before it reverts and will reflect any changes to the price of an ounce of silver plus our premium.