Live Silver Prices
There are many people who make a decent supplemental income by surfing flea markets and garage sales for silver scrap. The price of silver is determined by the NY "Spot Price" - the price that the metal is trading on the COMEX (Commodities Exchange) for on a particular day. This price changes everyday depending on what trading happens on that day. Currently, the price of silver is still fairly high, but nothing like it was back 1980 when in one year, the Hunt Brothers cornered the silver market and drove the price up from $5 dollars an ounce to $49.95 an ounce in less than a year. Then came "Silver Thursday" when the price of silver dropped 50% in one day - from $21.62 to $10.80 in one day after the Hunt Brothers were unable to meet a margin call. Nelson Hunt declared bankruptcy and in 1988 was convicted on charges of conspiring to manipulate the market. Since the, the silver market has leveled off.
Silver is weighed in Troy ounces, and there are 12 Troy ounces in a pound. Measuring in grams, as precious metal is for scrap purposes, one troy ounce is equal to 31.1034768 grams. Below you will find several live updatedcharts for the price of silver. You will find both 8hr and 24hr prices per ounce for silver and 8hr and 24hr prices per kilo for silver. All prices are US Dollar.