Silver's average price since 1970
Silver's history has two famous spikes. In 1979 and 1980 the Hunt brothers of Texas tried to corner the market. That pushed the 1980 average to $20.63, a level silver didn't reach again until 2011, when it averaged $35.12 as investors piled into metals after the financial crisis.
The 2025 average of $40.03 beat both in dollar terms. Counting inflation, 1980 still wins: its average works out to about $80 in 2025 dollars.
| Year | Average per oz | Change |
|---|---|---|
| 2025 | $40.03 | +41.6% |
| 2024 | $28.27 | +21.1% |
| 2023 | $23.35 | +7.5% |
| 2022 | $21.73 | -13.6% |
| 2021 | $25.14 | +22.3% |
| 2020 | $20.55 | +26.8% |
| 2019 | $16.21 | +3.2% |
| 2018 | $15.71 | -7.9% |
| 2017 | $17.05 | -0.5% |
| 2016 | $17.14 | +9.3% |
| 2015 | $15.68 | -17.8% |
| 2014 | $19.08 | -19.8% |
| 2013 | $23.79 | -23.6% |
| 2012 | $31.15 | -11.3% |
| 2011 | $35.12 | +73.9% |
| 2010 | $20.19 | +37.6% |
| 2009 | $14.67 | -2.1% |
| 2008 | $14.99 | +12% |
| 2007 | $13.38 | +15.8% |
| 2006 | $11.55 | +58% |
| 2005 | $7.31 | +9.6% |
| 2004 | $6.67 | +36.7% |
| 2003 | $4.88 | +6.1% |
| 2002 | $4.60 | +5.3% |
| 2001 | $4.37 | -11.7% |
| 2000 | $4.95 | -5.2% |
| 1999 | $5.22 | -5.8% |
| 1998 | $5.54 | +13.3% |
| 1997 | $4.89 | -5.8% |
| 1996 | $5.19 | +0.8% |
| 1995 | $5.15 | -2.5% |
| 1994 | $5.28 | +22.8% |
| 1993 | $4.30 | +9.1% |
| 1992 | $3.94 | -2.5% |
| 1991 | $4.04 | -16.4% |
| 1990 | $4.83 | -12.2% |
| 1989 | $5.50 | -15.8% |
| 1988 | $6.53 | -6.8% |
| 1987 | $7.01 | +28.2% |
| 1986 | $5.47 | -10.9% |
| 1985 | $6.14 | -24.6% |
| 1984 | $8.14 | -28.8% |
| 1983 | $11.44 | +43.9% |
| 1982 | $7.95 | -24.4% |
| 1981 | $10.52 | -49% |
| 1980 | $20.63 | +86% |
| 1979 | $11.09 | +105.4% |
| 1978 | $5.40 | +16.9% |
| 1977 | $4.62 | +6.2% |
| 1976 | $4.35 | -1.6% |
| 1975 | $4.42 | -6.2% |
| 1974 | $4.71 | +83.6% |
| 1973 | $2.56 | +52.4% |
| 1972 | $1.68 | +8.4% |
| 1971 | $1.55 | -12.4% |
| 1970 | $1.77 |
LBMA Silver Price annual averages in US dollars (1970: Handy & Harman), compiled by metalcharts.org. The LBMA Silver Price is set once a day at noon London time.
Common questions
- Why does silver move more than gold?
- The silver market is much smaller, so the same amount of buying or selling pushes the price further. More than half of silver demand also comes from industry, which ties the price to factory output in a way gold isn't.
- What was the average silver price in 2025?
- $40.03 per troy ounce, up 41.6% from $28.27 in 2024 and the highest yearly average in the LBMA series. The previous high was $35.12 in 2011.
- How is sterling silver valued?
- Sterling is 92.5% silver. Pick sterling in the calculator, enter the weight, and it returns the value of the silver inside.