Silver price and historical chart

The latest available silver reference is $64.42 USD per troy ounce for 27 September 2026 at 12:11 UTC. Delay: 37 minutes ago. It is an hourly spot reference from Gold API hourly spot reference.

Silver combines investment demand with industrial uses. A spot reference excludes the fabrication premium, delivery and taxes on physical coins and bars.

Calculate value

Hourly spot reference

$64.42

USD / troy-oz

27 Sep 2026 12:11 UTC · Gold API hourly spot reference · Delay: 37 minutes ago

CurrencyPrice per

Gold API hourly spot referenceDownload USD history ↓

Historical currency views use the latest reference FX, not date-matched historical exchange rates.

Which countries mine the most silver?

Silver geography follows polymetallic geology. The leading-country map therefore includes silver recovered from lead-zinc, copper and gold operations as well as primary silver mines.

2025 estimate

Mexico led estimated silver mine output in 2025, followed by Peru and China. Unlike gold, most silver is recovered with lead-zinc, copper or gold rather than from a silver-only mine.

Loading the silver production map…

The circles compare the published national estimates. Each point marks a representative producing area rather than every operation or legal boundary. The table provides the same facts without the interactive map. Map data © OpenStreetMap contributors.

1. Mexico 6300 metric tonnes · 24.2% of rounded world output

6300 metric tonnes

2. Peru 3600 metric tonnes · 13.8% of rounded world output

3600 metric tonnes

3. China 3400 metric tonnes · 13.1% of rounded world output

3400 metric tonnes

4. Bolivia 1500 metric tonnes · 5.8% of rounded world output

1500 metric tonnes

5. Chile 1400 metric tonnes · 5.4% of rounded world output

1400 metric tonnes

6. Poland 1300 metric tonnes · 5.0% of rounded world output

1300 metric tonnes

The map shows leading mine-production countries. It measures contained silver, including byproduct silver, and excludes recycled material and refinery throughput.

Leading silver producers in the 2025 estimate
Rank	Country	Mine production	World share	Representative map area
1	Mexico	6300 metric tonnes	24.2%	Zacatecas and wider Mexican production
2	Peru	3600 metric tonnes	13.8%	Central Andes silver districts
3	China	3400 metric tonnes	13.1%	Chinese polymetallic mining regions
4	Bolivia	1500 metric tonnes	5.8%	Potosí and Oruro mining districts
5	Chile	1400 metric tonnes	5.4%	Northern and central Chilean mining regions
6	Poland	1300 metric tonnes	5.0%	Lower Silesian copper district

A byproduct total still counts as mine production. USGS reports contained silver recovered at mines. It does not require silver to be the mine’s main product, and it does not include recycled jewellery, photographic material or electronics.

silver explained

Why does most silver come out of another metal’s mine?

USGS says silver is primarily obtained as a byproduct from lead-zinc, copper and gold mines. That link makes silver supply responsive to decisions made in several other metal markets.

Lead-zinc deposits

Polymetallic ores can carry silver alongside lead and zinc. Concentration and smelting separate the payable metals.

Copper operations

Copper anode slimes can contain precious metals that are recovered during refining.

Gold operations

Some gold deposits and processing circuits produce payable silver as a coproduct or byproduct.

What used silver in the United States in 2025?

Electrical and electronic products were the largest named US silver use in 2025. Physical investment, photovoltaics, coins, jewellery and joining alloys create separate demand channels.

Electrical and electronics25%

Other industry and photography19%

Physical investment bars18%

Photovoltaics15%

Coins and medals14%

Jewellery and silverware6%

Brazing and solder3%

Electrical and electronics

25%

Conductive contacts, circuits and other electrical applications.

Other industry and photography

19%

Industrial processes, catalysts, optics and photographic uses.

Physical investment bars

18%

Bars acquired as physical investment products.

Photovoltaics

15%

Silver paste used in solar-cell manufacturing.

Coins and medals

14%

Minted investment, collector and commemorative products.

Jewellery and silverware

Fabricated decorative and household products.

Brazing and solder

Joining materials used in manufacturing and repair.

Solar paste, bullion and jewellery are different silver products

A photovoltaic manufacturer buys material to a technical specification. An investor may buy a bar, while a jeweller buys grain or alloying feed. Their fabrication costs and purchase terms differ even when each starts with the same silver reference.

Silver can return through electronics, industrial scrap, jewellery and old photographic material. Recovery depends on concentration and processing economics, so gross scrap weight is not fine-silver weight.

Before valuing a silver item

Identify whether the item is bullion, sterling, plated material or industrial scrap.
Use stated or assayed fineness instead of treating the full weight as silver.
Keep fabrication premiums and recovery deductions separate from contained metal.
Compare offers using the same observation time and weight unit.

Calculate silver value by weight

See how concentrated silver mine supply is in the metal supply concentration table, or estimate the weight and cost of a silver sheet, bar or tube with the material cost calculator.

Production and use source: U.S. Geological Survey, Mineral Commodity Summaries 2026 — Silver. Route evidence: KGHM — silver market and products; Fresnillo plc — 2024 supply-chain statement; Hecla Mining — 2024 annual report and Form 10-K and Hecla Mining — Greens Creek operation.

Three documented silver routes from mine to market.

Polish, Mexican and Alaskan examples show three different systems: integrated copper-silver refining, mine output sold to a related metallurgical complex, and polymetallic concentrates shipped to outside processors and traders.

Choose route

Origin Processing User market Feed material Finished product

Poland and GłogówMexico and Met-MexAlaska and world markets

Loading the silver supply-chain map…

The numbered route turns the cited operator description into a readable geography. Market points show broad destinations; they do not identify a buyer, live shipment or exclusive path. Map data © OpenStreetMap contributors.

1 Polish copper-silver ore → Głogów refinery → bullion and industry

KGHM recovers silver through its integrated copper business, produces bars and grains at the Głogów Copper Smelter and Refinery, and supplies accredited bullion and industrial silver products.

1 · OriginLower Silesian copper-silver mines

2 · ProcessingGłogów Copper Smelter and Refinery Produces silver bars and grains; bars carry LBMA and COMEX credentials

3 · Supplied or usedLondon bullion marketNew York bullion marketEuropean industrial users

Source: KGHM — silver market and products

2 Mexican silver mines → Met-Mex complex → commercial markets

Fresnillo reports that its Mexican mines produce silver- and gold-bearing concentrates and doré. In 2024 it sold 99.6% of production to the related Met-Mex metallurgical complex, which smelts, refines and commercializes those products.

1 · OriginFresnillo mining district

2 · ProcessingMet-Mex metallurgical complex, Torreón Smelts, refines and commercializes Fresnillo concentrates and doré

3 · Supplied or usedMexican fabrication marketInternational precious-metals market

Source: Fresnillo plc — 2024 supply-chain statement

3 Greens Creek ore → on-site concentration → worldwide smelters and traders

Hecla’s Greens Creek mill separates silver, zinc and zinc-rich precious-metal concentrates. Products leave through the Hawk Inlet marine terminal for smelters and traders worldwide; gravity concentrate is processed into doré and then refined for precious-metal sale.

1 · OriginGreens Creek underground mine

2 · ProcessingGreens Creek mill and Hawk Inlet terminal Concentrates ore on site and ships saleable products from the marine terminal

3 · Supplied or usedNorth American precious-metal tradersWorldwide custom smelters

Source: Hecla Mining — 2024 annual report and Form 10-K Supporting source: Hecla Mining — Greens Creek operation

These examples are evidence, not a complete world network. Peruvian, Chinese, Bolivian and other Mexican output follows additional smelters, refineries and contracts. Select one route to separate its map lines and evidence from the others.

Behind the chart.

Data methodology →

This chart separates the source observation, its period and its published unit from later currency or weight conversions.

What this price represents

Silver combines investment demand with industrial uses. A spot reference excludes the fabrication premium, delivery and taxes on physical coins and bars.

price-chart.com stores timestamped hourly spot references separately from its daily USD-per-troy-ounce reference observations. Hourly points are indicative market references, not executable dealer quotes or exchange closes. Monthly observations are nominal USD averages from the World Bank Pink Sheet where available; palladium uses means of stored daily references. Yearly values are means of the available monthly averages, with incomplete periods labelled. Period averages describe the stated interval, not a current executable quote. Currency and weight conversions change the display, not the underlying specification.

What a physical transaction may cost

Grade, delivery location, fabrication, taxes and dealer spreads can change a real offer. Use a matching specification and period when comparing prices.

Recent observations

Recent Silver price observations
Period	USD / troy-oz
27 Sep 2026 12:11 UTC	64.42
27 Sep 2026 11:11 UTC	64.42
27 Sep 2026 10:11 UTC	64.42
27 Sep 2026 09:11 UTC	64.42
27 Sep 2026 08:11 UTC	64.42
27 Sep 2026 07:11 UTC	64.42
27 Sep 2026 06:11 UTC	64.42
27 Sep 2026 05:11 UTC	64.42
27 Sep 2026 04:10 UTC	64.42
27 Sep 2026 03:10 UTC	64.42
27 Sep 2026 02:10 UTC	64.42
27 Sep 2026 01:10 UTC	64.42

The selected period in numbers.

hourly observations · 2026-09-24T21:21:56Z to 2026-09-27T12:11:01Z · USD / troy-oz · Gold API hourly spot reference

Lowest observation63.56

Highest observation65.06

Mean observation64.31

Stored observations71

First-to-last change0.69%

High and low mean the highest and lowest stored observations, not intraday trading extremes. The mean is an unweighted average of those observations. Missing dates are not filled in.

Silver by weight.

Custom weight & purity →

Common fine-metal weights

Uses the latest reference of the frequency selected above. Values exclude product premiums and fees.

Silver values at common fine-metal weights
Fine weight	Reference value (USD)
1 gram	2.07
10 grams	20.71
1 troy ounce	64.42
100 grams	207.11
1 kilogram	2,071.12

Fine weight versus gross weight

The reference values assume the entire weight is the specified metal. For an alloy, multiply net metal weight by its fineness divided by 1,000 before applying a fine-metal price. Deduct stones or non-metal parts first. A plated item cannot be valued as though all its weight were the surface metal.

A troy ounce is 31.1034768 grams. An ordinary ounce is 28.349523125 grams. A metric tonne is 1,000 kilograms. Use the weight worksheet to compare units or an entire batch.

For a purchase, compare the invoice with the premium calculator. For recovered metal, review deductions in the scrap payout calculator.

Separate silver content from the product premium

Silver price comparisons become more useful when the metal reference and the physical product are kept separate. A coin, a large bar and recovered industrial silver can have different fabrication, distribution and recovery costs. The historical reference provides context; fine weight and an actual offer determine the transaction calculation.

Fabrication and industrial use

Silver appears in electrical and solar applications as well as jewellery and bullion. Changes in manufacturing requirements can affect demand differently from changes in investment holdings.

Bullion demand and product availability

Retail demand for particular coins or bar sizes can influence their premiums. A premium on one product is not itself a change in the underlying reference series.

Production and recovered material

Silver supply includes mined and recycled material. Grade, recovery costs and the composition of recovered products matter when valuing scrap.

Make comparisons meaningful

Compare silver with gold using the same currency and troy-ounce basis. The gold–silver ratio expresses relative reference values, while a copper comparison can help put industrial-market movements beside the silver series.

In the comparison chart, each series starts at 100 on its first shared date. This compares percentage movements rather than equating the price of a tonne with the price of an ounce. For a physical transaction, also match quality, currency and delivery conditions.

Which product are you comparing?

Silver product specifications to compare
Product	What to check
Fine silver bars	Use fine weight and include the product premium, shipping and any actual invoice costs.
Sterling silver	A 925 fineness input represents 92.5% silver content; gross item weight may include non-silver components.
Recovered silver	A refining estimate needs composition, recovery and buyer terms, not just total scrap weight.

Recent yearly averages.

Download annual USD data ↓

Original USD per troy ounce. These figures average the available monthly observations. They are not year-end closes or the mean of all daily prices. This archive retains the original source unit regardless of chart display settings.

Silver recent yearly averages
Year	Average (USD)	Monthly observations	Coverage
2026	74.59	8	Partial period
2025	39.80	12	12 complete monthly observations
2024	28.28	12	12 complete monthly observations
2023	23.41	12	12 complete monthly observations
2022	21.78	12	12 complete monthly observations
2021	25.17	12	12 complete monthly observations
2020	20.54	12	12 complete monthly observations
2019	16.22	12	12 complete monthly observations
2018	15.72	12	12 complete monthly observations
2017	17.06	12	12 complete monthly observations

Partial averages can change as observations are added. Do not compare an incomplete year with a full year as though the coverage were identical.

Questions about silver prices

Is the Silver price live or a reference?

The daily series is a price-chart.com reference observation, separate from an exchange closing price or executable intraday quote. The displayed label, source and timestamp identify the observation. Polling a source does not make its underlying publication more frequent.

What can affect the Silver price?

Fabrication and industrial use: Silver appears in electrical and solar applications as well as jewellery and bullion. Changes in manufacturing requirements can affect demand differently from changes in investment holdings. Bullion demand and product availability: Retail demand for particular coins or bar sizes can influence their premiums. A premium on one product is not itself a change in the underlying reference series.

Which Silver products need separate specifications?

Fine silver bars: Use fine weight and include the product premium, shipping and any actual invoice costs. Sterling silver: A 925 fineness input represents 92.5% silver content; gross item weight may include non-silver components. These product differences mean one headline reference cannot price every physical transaction.

What do monthly and yearly Silver prices mean?

Monthly values retain the World Bank source averages rather than being rebuilt from a different daily feed. Yearly values average those monthly observations. The table flags incomplete coverage. A period average is different from a closing price.

How do I value a custom amount of Silver?

Use the silver value calculator for weight, fineness and currency, then inspect its scenario chart and weight table. A contained-metal estimate excludes unentered premiums, fees and non-metal components.

Where does silver come from?

Mexico led estimated silver mine output in 2025, followed by Peru and China. Unlike gold, most silver is recovered with lead-zinc, copper or gold rather than from a silver-only mine. See the silver production map and table.

How does silver move from mines to users?

The page follows 3 documented examples: Poland and Głogów, Mexico and Met-Mex, Alaska and world markets. Follow the documented silver routes; they are explanatory relationships rather than live cargo tracking.

What is silver used for?

Electrical and electronic products were the largest named US silver use in 2025. Physical investment, photovoltaics, coins, jewellery and joining alloys create separate demand channels. The end-use section separates the cited applications.

Sources and further reading

World Bank commodity data — monthly reference histories and source documentation.
Daily precious-metal reference archive — daily reference observations under a CC0 licence.
USGS commodity statistics and information — material uses, supply and industry context.
price-chart.com methodology — validation, timestamps, period averages and conversions.

A little more perspective.

Start here 5 MIN READ