One troy ounce of.999 pure silver was valued $20.87 as of late June, 2014. While this price does change frequently in response to market conditions, it has been very stable over the previous year, staying within a $3 range.
A troy ounce is the most generally used metric of measurement for the amount of silver in relation to the price of the silver. It is commonly referred to as an ounce, but it is 1.09714 ounces. The best way to weigh silver is with this method.
Silver was considered a precious metal in the 19th century. In 2014, it is now one of the lowest on the scale of precious metals in proportion to its price. As the amount of gold across the world begins to diminish and there is less new gold found, the price of silver is predicted to rise.
Silver prices spiked significantly in 2005. They climbed from roughly $5 dollars per ounce up to around $11 per ounce. From 2005 to 2014, silver continuously grew in price, with a large rise up to $50 per ounce in 2011. Prices are predicted to continue to grow after the year 2014 and as the demand for silver goes higher.
Silver is an investment component. It is something that will take a long time to attain any form of obvious profit, but it will be a great investment when the time comes that silver prices are higher than ever. Investing in silver when prices are at approximately $20 per ounce is a method to get an investment for a cheap price and flip it around years later for a bigger profit.