Through the years, silver has always had a long history of performance and volatile spot prices. So volatile in fact that investors value the purity of silver to buy and sell. In the article below, we discuss the changes in silver price throughout history.
History of Silver
Silver has been around for 2500+ years. The metal is used in many societies and has a rich reputation of reliability. Silver attracts many investors because of its inherent value. Silver cannot be printed, it must be minted, most notably at by the U.S. Mint. Over time, flat currency has lost value causing hard assets like silver to rise in value as price pressure climbs.
In the last decade alone, global central banks have fought off an economic crash with super low rates allowing massive amounts of currency to printed making silver potentially more attractive to long-term investors. White metal, such as silver, is likely to continue and be sought after by investors to provide a meaningful hedge against economic issues in the future.
Price of Silver?
Established in 1976, the first spot price of silver hovered around $50 in 1980 below dipping to a low of $5 in 2004. To see the day to day price of silver, view this chart below:
Beginning in the mid-70s, silver was valued at less than $10 per ounce, today it is $20+. Why is this? Well, the white metal began to rise in the late 70s and the price of silver rises as more industrial demand is needed.
In 2008, the price of silver doubled to $20 due to the financial crisis of the Stock Market crashing in 2008/2009 that caused the global banking system to nearly collapse. However, after the stock market went back up, the spot price fell back down to $10 per ounce.
Silver began a historical climb in 2011 when it got up to $50 per ounce.
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