Silver Coins Compared With Its Older Prices
The historical price of silver was low when compared to the current cost that this metal has, with a few short exceptions. All of the metals in the precious metals group have seen terrific growth in the past few years, and these types of metals are nearly record costs. Silver has seen greater costs during the past but this has been unusual, and the most notable occasion was because of the silver market being cornered. Typically silver has seen a fairly constant price level for long time periods.
The price of silver these days is a little less than $33 an oz. This is a lot more than what silver has seen for much of the history of the metal. The last London Fix prices show that silver has always been a popular investment option which was inexpensive. From 1792 until 1861 the most frequent London Fix price was $1.29 for an oz of silver. There have been a few years during this time when silver had a price slightly higher but the market would often correct back to the $1.29 cost eventually.
After 1861 the historical value of silver started to change, and the price began to fluctuate on a yearly basis. In 1864 silver was up to $2.92, and by 1877 the metal was back down to $1.21. From 1887 until 1960 silver would rarely see $1 an ounce, and the cost seemed to vary from 1 year to the next yet was always under $1. 1932 brought silver that was costed at only $0.25 an oz. Finally in 1961 silver broke the $1 mark again, and this time the price would not go back below $1 again.
By 1973 silver was at more than $3 an oz, and in 1979 the London fix price for silver was above $21 an ounce. This didn't last, but was because of market manipulation and an attempt by a few individuals to corner the silver market and inflate silver prices. By 1985 silver was back to less than $6 per ounce, and the price dropped gradually throughout the next few years.
In 1999 the historical cost of silver was approximately $6. By 2006 the metal price was up to more than $12 per ounce and the price continued to go up.
About the Author
In 2011 the typical silver cost was $35 per ounce for the year, but during this period the actual market rate went above $41 per oz. You could read even more on this subject matter here http://historicalpriceofsilver.com .
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