Silver Prices Per Ounce

The futures markets of the world’s major players in the world economy determine the spot price of silver. Silver prices per ounce are based on the spot price, and any silver bullion product acquired will be paid for with a premium above and beyond the spot price (after all, coin dealers need to make money, too).

All silver prices are denominated in troy ounces, which are slightly different than the ounces we see on products in the grocery store, the troy ounce being somewhat “heavier” than a “regular” ounce. The troy ounce dates back to Roman times and was never modernized like the system of feet, pounds and miles. The price of silver bullion is always calculated per ounce, using the spot price as a basis. However, that does not mean that a 1 oz. coin with silver at $40/oz. will cost you $40. It will most likely cost you between $43 and $45. That does not mean that the dealer is using different spot prices than the markets. The spot price is unique. It means that the dealer is charging between $3 and $5 over the spot price for their product. It is important to understand that silver bullion prices are calculated using the following formula: (spot price) + (dealer premium) = (sale price). We all know that a grilled cheese sandwich at a restaurant doesn’t cost them $7 to make it, but restaurants have bills and employees to pay. So do coin dealers. If they weren’t charging us a premium over spot price and making money, who would we buy our silver from?

Silver Prices Per Ounce

Silver Prices Per Ounce (AUD)	Silver Prices Per Ounce (CAD)
Silver Prices Per Ounce (EUR)	Silver Prices Per Ounce (JPY)
Silver Prices Per Ounce (GBP)	Silver Prices Per Ounce (ZAR)
Silver Prices Per Ounce (CHF)	Silver Prices Per Ounce (USD)
Silver Prices Per Ounce (CNY)