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Price of Silver
Silver, like other precious metals, may be used as an
investment. For more than four thousand years, silver
has been regarded as a form of money and store of value.
However, since the end of the silver standard, silver
has lost its role as legal tender in the United States.
(It continued to be used in coinage until 1964, when the
intrinsic value of the silver overtook the coins' face
values.). Silver is a commodity that is traded 24 hours
a day in the world's market centers - London, Zurich,
New York, Chicago and Hong Kong. The London market
started trading in the 17th century, and it - like other
major markets - provides a vehicle for those who wish to
trade in physical silver on a spot basis, or on a
forward basis for hedging purposes.
Get Today's Silver Spot Rate...(External
Links)
Silver Trading in Global Markets
Silver is a commodity that is traded 24 hours a day in
the world’s market centers – London, Zurich, New York,
Chicago and Hong Kong. The London market started trading
in the 17th century, and it – like other major markets –
provides a vehicle for those who wish to trade in
physical silver on a spot basis, or on a forward basis
for hedging purposes. The London market has a "fix"
which offers the chance to buy or sell silver at a
single price. The fix begins at 12:15 p.m. and is a
balancing exercise; the price is fixed at the point at
which all the members of the "Fixing" can balance their
own, plus clients’, buying and selling orders.
Continuing Price Increase
From September 2005 onwards, the price of silver has
risen fairly steeply, being initially around $7 per troy
ounce but reaching $14 per oz for the first time by late
April 2006. The monthly average price of silver was
$12.61 per ounce during April 2006, and the spot price was
around $15.78 per ounce on November 6. As of March 2008,
it has hovered around $20 per troy ounce.
|
Year
(As of Dec 31st) |
Silver Price
US$ / OZ |
Gold Price
US$ / OZ |
Gold | Silver
Price Ratio |
|
1910 |
0.54 |
20.67 |
38.28 |
|
1920 |
0.54 |
20.67 |
38.28 |
|
1930 |
0.33 |
20.67 |
62.67 |
|
1940 |
0.35 |
34.50 |
98.57 |
|
1950 |
0.80 |
40.25 |
50.31 |
|
1960 |
0.91 |
36.50 |
40.11 |
|
1970 |
1.64 |
37.60 |
22.93 |
|
1980 |
15.65 |
641.20 |
40.97 |
|
1990 |
4.17 |
423.80 |
101.63 |
|
2000 |
4.60 |
272.15 |
59.16 |
|
2005 |
8.83 |
513.00 |
58.10 |
|
2006 |
12.62 |
628.20 |
49.78 |
Myths about Silver
Legends of Jewels, Quartz
Mythology, Myths about crystals and myths about jewelry;
Some of those ancient myths and legends have come down
intact through the centuries. Others have evolved and
mutated as result of the input of other cultures...
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Facts about Silver
Silver can be hammered into sheets so thin that it would
take 100,000 of them to stack an inch high. It can be
drawn into a wire finer than a human hair. It is this
ductility (or ability to be formed) that makes silver
the wonderful art form that it is...
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Origins of Silver
The area of Anatolia (modern Turkey) is considered the first major
source of mined silver, having provided the resource to craftsman
throughout Asia Minor. Silver from the Anatolian region largely served
as the source of silver for the Western cultures flourishing in the Near
East, Crete, and Greece. Silver craftsmanship was centered largely in
Asia Minor and Greek Islands...
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What is Sterling
Silver?
Sterling silver is an alloy of silver containing 92.5%
pure silver and 7.5% other metals, usually copper. The
sterling silver standard has a minimum millesimal
fineness of 925. Because pure silver is so soft, it
should only be used when malleability is required, such
as in handcrafted jewelry featuring weaving and other
intricate designs. High-end Silver jewelry is often...
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The Healing Power of
Silver
In general, Silver is believed to benefit circulation,
help lungs and throat, and detoxify the blood, to aid in
the treatment of degenerative brain diseases, balancing
of hormones and chemicals and improvement of nerve
impulse transmission. They also use it...
Read more...
Back to 'All About
Silver' Summary
Sterling silver is an alloy of silver containing 92.5%
pure silver and 7.5% other metals, usually copper.
Sterling silver is the standard for charming beautiful
white cool luster of silver and is the standard for high
quality silver jewelry. The beautiful white metal of
silver has had an illustrious history, at times being
more highly valued than gold. Long used as a medium of
exchange...
Read more...
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