What Is One Troy Ounce .999 Fine Silver Worth?
As of late June, 2014, one troy ounce of .999 fine silver is worth $20.87. This price constantly fluctuates, depending on the market, but has stayed within three dollars of this amount over the past year.
A troy ounce is the most commonly used form of measurement for the amount of silver in relation to the price of the silver. It is generally referred to as an ounce, but it is 1.09714 ounces. It is the easiest way to weigh silver.
During the 19th century, silver was one of the most precious metals. In 2014, it is now one of the lowest on the scale of precious metals in relation to its price. As the amount of gold around the world begins to decrease and there is less new gold found, the price of silver is expected to rise.
During the year 2005, silver prices took a big leap. They went from around $5 dollars per ounce up to around $11 per ounce. From 2005 until 2014, silver steadily increased in price, with a big leap up to $50 per ounce in 2011. Prices are expected to continue to rise after the year 2014 and as the demand for silver gets higher.
Silver is an investment piece. It is something that will take a long time to reach any type of noticeable profit, but it will be a worthwhile investment when the time comes that silver prices are higher than ever. Investing in silver when prices are at around $20 per ounce is a way to get an investment for a small price and turn it around years later for a bigger profit.
