1 Troy Ounce Of Silver Is Worth How Much?

Posted on 08. Apr, 2011 by Andrew in Precious Metals

People have been investing in precious metals for thousands of years.  In fact, gold, silver, copper, and other metals were routinely used as currency before standardized currencies were even created.  And in those days, just as it is now, the value of any metal will depend on how much of it is in circulation, demand, and of course, speculation.

Many people are surprised to learn that the demand for precious metals does not come primarily from the jewelery market.  This is because these metals are commonly used in electronics.  As such, those who make televisions, computers, and basically anything that involves electronic circuitry are the primary consumers of these commodities.

Speculation often causes the price of silver, for example, to rise and fall.  Speculation simply means that there are people who place “bets” on what the price of silver will be sometime in the future.  Silver is considered a commodity and is traded in the commodities market in addition to oil, sugar, wheat, and other commodities.

Silver is often a much better investment than gold because it is so much more affordable.  You don’t have to spend a tremendous amount of money to get in on the action.  The price of silver is usually a tiny fraction of the price of gold at any given time.  You can often purchase an entire stack of silver coins for the price of one gold coin.  And if you happened to lose a silver coin, it would certainly be a disappointment, but it wouldn’t devastate you financially.  Losing a gold coin, however, is a big deal.

Silver could potentially be better than gold during an economic disaster.  I’m sure you’ve heard many commercials that claim you can pay your bills with gold coins during an economic collapse.  But if you think about it, this doesn’t make sense.  How can you purchase a car load of groceries, for example, if all you have is a gold coin that is worth hundreds or possibly thousands of dollars?  How would the retailer make change?  The reality is that using gold during an economic collapse is not as practical as it is made out to be.  Purchasing your groceries with silver coins that are not as expensive makes much more sense.

So, 1 troy ounce of silver is worth how much?  The reality is that the price changes on a daily basis.  The best place to obtain a daily quote is at the Silver Price web site.

www.silverprice.org

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