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How Much Your Silver is Worth
Depending on where you live, the Silver spot price may not be listed in the currency you require. For that reason, APMEX provides a Silver converter tool to calculate the Silver price based on various factors, such as the currency, quantity, unit of measure and purity of the Silver.
Silver Spot Price FAQ
Silver is available for investment in a number of forms, such as physical Silver bullion and paper Silver. Silver bullion is most found in coin, round and bar form with numerous size options for each. Some investors appreciate government-minted coins while others prefer purchasing Silver bullion bars and rounds at lower premiums. Paper Silver, on the other hand, is available in the form of Exchange-Traded Funds (ETFs) and certificates – essentially a piece of paper stating a financial institution is holding a specific amount of Silver for you. These options are different than Silver bullion because the physical Silver is never actually in the buyer’s hands.
Silver bullion refers to a Silver product that is valued by and sold mostly for its metal content and does not contain any numismatic or collectible value. Silver bullion often appears in the form of bars, rounds and Sovereign coins that carry a face value and are backed by a government. These products are most commonly categorized therefore as either .999 fine or .9999 fine Silver bullion, meaning the product is either 99.9% or 99.99% pure Silver.
The Silver bullion prices are established and adjusted by the world market, which includes both buyers and sellers, relating to the price of Silver futures. There are established markets throughout the world that are known for their Precious Metal exchanges and international client bases such as – the Commodity Exchange Inc. (COMEX), New York Mercantile Exchange (NYMEX), London Bullion Market (LBM), and the Chinese Gold and Silver Exchange Society (CGSE) to name a few of the most well-known.
The worth of Silver is determined by the current Silver spot price. This price is determined by many factors such as market conditions, supply and demand, and even news of political and social events. The value or worth of a Silver product is calculated relative to the weight of its pure metal content measured in troy ounces. However, collectible or rare numismatic Silver products may carry a much higher premium over and above the value found in its raw metal weight.
Additionally, other factors such as merchandising, packaging or certified grading from a trusted third party may influence the final worth of the Silver prices for the product you are purchasing. APMEX uses third-party grading companies PCGS and NGC, both known for their reliability and trusted guarantees, to guarantee the condition of coins and encapsulate them to maintain their grade.
The price of Silver can fluctuate based on market conditions, supply and demand, geopolitical events and more. When someone refers to the price of Silver per ounce, they are referring to the Silver spot price. While the overall price of your coin will change with the Silver spot price, Silver coin values can still vary depending on other factors such as mintage, scarcity and condition. Whether they come from a private mint or a sovereign mint, Silver coin values will differ.
An ounce is not a "regular" ounce when paying the spot on Silver prices. When Americans refer to ounces, they generally are referring to Avoirdupois ounces. The price of Silver per ounce is always measured in Troy ounces, which are equal to 1.09711 Avoirdupois ounces. One Troy ounce equals 31.1035 grams. It is a unit of measure first used in the Middle Ages, originating in Troyes, France. Troy weight units are primarily used in the Precious Metals industry.
The Silver Bid price per ounce is the price the dealer is willing to buy Silver while the Silver Ask price is the price at which the dealer offers to sell the Silver to customers. Generally, the difference between the Bid and Ask price includes the costs for fabrication and distribution of the coin which is called the Premium. The price difference between the buying price and selling price is the Spread – so if Gold is purchased at $1,780.00 USD and then sold at $1,805.00 USD, then the spread is $25.00 USD.
The overall price of your coin will change with the Silver spot price, but Silver coin values also vary depending on factors such as mintage, scarcity and condition. Whether they come from a private mint or a sovereign mint, Silver coin values will differ. Coins and bullion make great investment opportunities; for any questions regarding the eligibility of specific Silver products in your investment portfolios, please consult your financial advisor.
Silver prices, at any given moment, are the same no matter where you buy in the world. Live Silver prices always reflect Silver traded in U.S. dollars. In local markets, the Silver price in USD is simply converted to the local currency to reflect the price for 1 troy ounce of Silver. There are some better-known exchange markets located around the world for trading Precious Metals that are always up to date on the Silver spot prices such as the COMEX, NYMEX, LBM and CGSE.
After deciding what kind of Silver you’re interested in buying, it is time to prepare for how you will securely protect and store your Silver. There are many factors and options for this. For a small fee, you can store it with a trusted third party such as Citadel (a subsidiary of APMEX). Of course, many choose to store their Silver in their own vaults or lockboxes at home, as well.
If you choose to store your Precious Metals with Citadel, there are many benefits over storing your investments at your home. Citadel secures your Silver and peace of mind by providing protection against theft, physical damage and loss. Your holdings are never placed with our customers’ products and you will have a personalized web page detailing your items in storage so you can check their real-time market value. APMEX will also buy back your stored purchases at market price and there is no shipping cost when you decide to sell to us.
Are you ready to sell your Silver? APMEX offers you the option to sell your Precious Metals, easily and fast, all online! Visit the Sell Silver to Us section to receive information on how to sell your Silver bars, coins and rounds to APMEX or call our Specialists for a step-by-step selling process at 800.375.9006.
The Gold to Silver Ratio is a formula used to determine how many ounces of Silver it takes to buy one ounce of Gold. For the ratio, take the price of Gold divided by the price of Silver. Investors use this ratio to determine the relative value of Silver to see if a potential buying opportunity exists.
Make the most of your Silver with Precious Metals IRAs, which are Self-Directed IRAs. Just like with regular IRAs, any profits on your Silver investment sales can be tax-deferred as long as the proceeds are kept with your reinvestment custodian or transferred to another IRA account.
When shopping online with APMEX, you may be required to pay state and local sales tax on your purchase, depending on a few variables. First of all, you may be taxed on only part of your order or on your total order. Secondly, the tax rate you pay may vary. Both of these factors depend on the address where we will be shipping your order. For more information on individual states, visit our State Tax Information page.
When ordering online or over the telephone with APMEX, the Silver price at which your order is submitted is the locked in price. APMEX will also send you an order confirmation email detailing what you purchased as well as confirming your locked in price.
There are some price differences depending on the payment method you use with APMEX, with certain methods there are discounts offered. For a full list of our accepted payment methods and discounts offered, visit our Payment FAQ page.