Silver Price in Euros

The Euro (EUR) is the official currency of seventeen of the 27 countries that are members of the European Union. It was adopted in 1999 and participating countries dumped their old currencies on January 1st, 2002. It is the world’s second reserve currency after the US dollar.

The original idea was to compete with the United States at 1:1 parity with the dollar. This dream, however, proved short-lived, as the Euro dropped following its introduction in 2002. It began to regain strength against the dollar in 2003. It is estimated that there are about €890 billion in circulation. Monetary policy is dictated by the European Central Bank (ECB)

Silver prices in Euros float around €25 per ounce.

Euro coins are produced from zinc, copper, nickel, aluminum and tin. The Euro is not backed by or minted with gold or silver, and has never been part of a gold standard.