One troy ounce of.999 fine silver was worth $20.87 as of the end of June 2014. This price changes all the time depending on the market, but over the past year, it has stayed within three dollars of this amount.
Most of the time, a troy ounce is used to measure how much silver there is in relation to how much it costs. Most people call it an ounce, but it’s really 1.09714 ounces. It’s the easiest way to weigh silver.
Silver was one of the most valuable metals back in the 1800s. In terms of price, it is now one of the least expensive precious metals in 2014. The price of silver is expected to go up as the amount of gold in the world starts to go down and less new gold is found.
In 2005, the price of silver went up a lot. From about $5 per ounce, they went up to about $11 per ounce. From 2005 to 2014, the price of silver went up steadily, with a big jump to $50 per ounce in 2011. Prices are likely to keep going up after 2014 and as the demand for silver grows.
Silver is a good way to make money. It will take a long time to make a profit, but it will be worth it when silver prices are higher than ever. When the price of an ounce of silver is around $20, you can buy it for a small amount and sell it years later for a bigger profit.