Have you seen silver prices lately?! They are down to the lowest prices in almost three years!
I haven’t purchased silver sheet or wire for quite awhile because I stocked up the last time prices were semi-reasonable and I use it sparingly because of the prices. As you may know, silver has been on a three year run with prices ranging as high as $48+ (briefly) a troy ounce – mostly hanging out in the low to mid $30’s. When I first started making jewelry and started paying attention to silver prices it was about $12 an ounce. Ah – the good old days! The jewelry supply market has adjusted by providing cording, leather, alternative metals, silver plating and silver filled options widely available and attractive with so many stylish components to choose from.
For me, you still can’t beat sterling silver for certain things. I was looking for some half round beaded silver wire the other day because I want make some cool silver links with it and it’s not manufactured in brass, copper or silver filled! I was pleasantly surprised when I noticed the pricing.
I thought I would pass along this info to you if you have been wanting to invest in a little silver but have been scared by the high prices and have sort of given up on silver as an option. Don’t get me wrong, silver is still a bit of a splurge – but it is in a much more reasonable price range right now. Around $23 an ounce as I am writing this.
(UPDATE: $15 an ounce as of October 2015).
Here are some geeky charts – if you like that sort of thing, like I do – to see just what I am talking about.
Last time prices were this low was October , 2010
I was feeling a little sassy the other day after looking at the numbers and dove into my silver stash with less caution and went for some nice thick 16 gauge wire and whipped up a little sterling silver bangle for myself. I oxidized and tumbled it and I kind of like how it turned out!
Have you been holding off on buying sterling silver supplies? If so, maybe it’s worth a little look in your stash to see if need to restock or it’s time to try something new. It will set you back about $10 less a troy ounce then it did a few months ago!