LemonTrades
TL;DR
- One troy ounce of pure silver is worth the live spot price below.
- Silver is weighed in troy ounces of 31.1 grams. A regular kitchen ounce is 28.35 grams, about 9% less.
- A 1 oz coin costs more than spot, a 1 oz Silver Eagle by several dollars, and dealers buy back a little below spot.
- LemonTrades follows the silver price for you, with alerts on sharp moves and the likely cause.
Here’s the price of one ounce of silver right now.
Troy ounces vs regular ounces
Precious metals use the troy ounce, 31.1035 grams. The ounce on a kitchen or postal scale is 28.3495 grams. So if you weigh silver on a kitchen scale, multiply the ounces by 0.9115 to get troy ounces.
What 1 oz coins and bars cost
| 1 oz product | You pay | You get back when selling |
|---|---|---|
| American Silver Eagle | Spot plus several dollars | A little above spot |
| Canadian Maple Leaf | Spot plus a few dollars | Around spot |
| Generic round or bar | Spot plus a dollar or two | A little below spot |
Premiums change with demand. They jump when people rush to buy, as in 2020 and early 2021.
Why the price changes
Silver moves with industrial demand, interest rates, the dollar and the gold price, and it swings more than gold. See the spot price for silver and why silver is going up. Bigger amounts: a kilo of silver and a pound of silver.
Sources
Education, not financial advice. See our disclaimer.
