Historically, silver has been used as a tangible commodity dating back as far as the ancient Egyptians and even the Sumerian Empire. Modern technological advances have increased the actual industrial demand for silver, yet the actual monetary value of silver has been in steady decline since the 1500's. Today, the demand for silver may be categorized: 30% for photography, 30% for Jewelry, and 40% for industrial uses. Silver, as well as other valueable commodities and currencies, are often traded through an online forex market. Silver pricing for investment is measured per troy ounce. This document is designed to briefly highlight the history of silver as a commodity.
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Economic History: The Value of Silver
Price History and Current Value of Silver
July 18 2003 - $4.71 + 0.05 ( begin tracking silver price )
September 25 2003 - $5.20 + 0.49 ( from initial July silver value )
November 25 - $5.28 + 0.57 ( from initial July silver value )
December 12 - $5.57 + 0.86 ( from initial July silver value )
September 5, 2004 - $6.52 +1.81 ( from initial July 2003 silver value )
September 16, 2006 - $10.72 ( reset tracking )
May 7, 2006 - $13.48 ( +$2.76 )
April 24th, 2010 - 18.28$ (+$7.56)
The Future of Silver?
...Silver fundamentals made inevitable the rise so steep,
To obtain more silver, we look to the ocean deep!
The price of silver continues to escalate,
Worldwide consuming industries pay the freight!
Silver shareholders are human moneybags,
What scares them now, not high price tags!
Leveraging thousands of dollars into millions,
Gates, Soros and Buffett make billions!
A report published by the Silver Institute cites a 600% increase in the demand of silver for biocidal applications.
CPM Silver Yearbook 2007 Summary
The CPM Silver Yearbook report concluded that net silver investment demand was about 60 million ounces for 2006. This upward trend is expected to continue to rise in 2007.
The yearbook cited that investment demand, primarily motivated by a need for protection against inflation, is strong in India, the Middle East, and the West. Part of this interest is due to increased participation in the commodity market's recent boom.
Silver supply is expected to increase 3% this year, to 520 million ounces.
The central bank in India has completed its sell off of about 60 million ounces of silver ( sold over the last few years ).
Warren Buffet sold 130 million ounces prior to the Silver ETF's purchase of about 130 million ounces.
The Silver Yearbook's conclusion was that silver prices are likely to continue to rise.
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Subject: Physical Silver Investors Are Being Hoodwinked by the Futures Market
The Silver market is in a bubble stage right now. No one really knows how long this will last, whether Silver goes up another $5, 10, 20 doesn`t really matter for investors wbleepedare buying the physical metal in the form of coins because when the bubble ends they are going to be sitting on a depreciating asset.
ryan barkhart – Montana
June 04, 2011 - 11:57
Subject: Silver
I use silver for two things. I reward my kids with silver coins with interesting imprints on them and I consider them an investment. It's not as cool or pricey as gold but I'm less likely to freak out if the kids lose them. It's shown them (i have 4) the impacts of how saving can be beneficial for their future and they all religiously check the prices weekly. Even the 4 year old gets them!
sidhdharth – india
April 20, 2011 - 09:30
Subject: I have to buy silver at this level. april 2011
I have to buy silver or not. What will the future price of it in INR.
Please reply me on above mail address.
suzy
September 27, 2010 - 10:08
Subject: cost of silver
I import jewellery from india and my supplier is telling me that the cost of silver has risen by 40% since last March. Is that true? Has the cost of silver risen that much over the past few months?
Kayla – Ohio
June 15, 2010 - 12:59
Subject: A Question
I'm investing in some beautiful handmade jewelry (silver) some pieces weighing over 300g. I know with such items value can go up based oncraftsman ship, antique components (such as charms or medals). One piece in particular is a rosary. These are things which there is little market for in my area. Can you recommend how to go about having these items appraised?
kathy – MN
May 16, 2010 - 02:13
Subject: troy ounces of silver
I have a troy ounce of silver from the 1970's. I paid 20.00 for it then, the price is lower now than when i bought it. I would like to buy some Canadian silver .9999 at a place i wont get taken with bad silver. Where can i purchase some of this fine silver? I am interested inhow values will go up, and how long should i hold on to my silver?
Victor
April 28, 2010 - 01:16
Subject: How to effectively invest in silver ?
Hi,
Is collecting or purchasing sliver coins the most cost effective method
available at the moment
cdcc0840 – Kentucky
April 03, 2010 - 14:11
Subject:
Jamie u seem 2 have alot of knwledge of silver coins and i need some help on findin a price 4 a certain silver coin. it's a 1 troy oz. (.999) 1985 Pete Rose with all american hit leader printed on the back with 4192 as his hits in 1985. the only prices i hav found r prices on ebay i cld really use some help here 2 find an estimate on what this wld cost if i decided to sell it. so if u can help me out i wld really appreciate it.
Kevin – Arizona
March 11, 2010 - 22:15
Subject: price per troy ounce
i have 20+ 1 ounce silver coins what is the price per troy ounce
Reply to Kevin
jamie
March 25, 2010 - 06:02
Subject: Re: price per troy ounce
well i have to tell you that silver is 16.81 U.S dollars an oz how ever this is rather low as it was just at 21 dollars an oz a few months ago however i do think it would b a better idea 2 hang on 2 it and BUY MORE if u can it will b worth more than gold in the next 20 years it is expected 2 b the first element on the periodic table 2 vanish we use more than we can mine every year and have allmost all the worlds reserve used up as well silver is used in everything u see around you from this computer you use cell phone ,most tvs, switches in your house or appartment, is's everywhare you look there is alot of info on the subject look it up your self but if you do want 2 sell you silver i will take it off you hands for a good price as i am a collector for that purpose alone and my little fortune is growing and as silver goes higher so dose the value of the silver i allready have but neways on a last note if silver stays below 21 dollars us buy it and make sure it is pure 999 fine silver or the canadian silver of a lot higher quality at .9999 fine and the only 1 leagaly allowed to print 4 nine(.9999) fine or pure silver if you would like more info i can point you in the right direction
gambalero – point pleasant, WV
January 29, 2010 - 16:11
Subject: Silver brazing wire
I recently found a fairly large amount of siver brazing wire. The containers state that the wire is 50% silver. Would I need to extract the silver from the alloy to sell it , or could I just sell it by dividing the total weight in half? Could the wire be worth more than the scrap silver since it is brand new and in unopened containers?
yo yo
January 09, 2010 - 10:26
Subject: Not what I needed
I want the price of silver per ounce. Now a days, silver costs much more than that! Someone update this website, please! And quickly!
Reply to yo yo
Admin – Las Vegas
January 09, 2010 - 10:50
Subject: Re: Not what I needed
The current up to date price of silver is always displayed on the chart at the top of the page...
Reply to yo yo
Marie Stouwie
January 10, 2010 - 18:29
Subject: Re: Not what I needed
I have troy silver bars I would like to sell. Can you please tell me what is the going price for troy ounce?
Thank you.
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I want the price of silver per ounce. Now a days, silver costs much more than that! Someone update this website, please! And quickly!
