Silver Pricing Lowest in Years

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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.

 

Here are some geeky charts – if you like that sort of thing, like I do – to see just what I am talking about.

 

1 Year Silver

Last time prices were this low was October , 2010

5 year Silver

 

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!

Sterling Bangles

 

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!

P.S.  I get most of my silver by weight from Rio Grande, Monster Slayer or Thunderbird Supply.  There are many Etsy sellers supplying wire and sheet as well as beading stores but be aware that their prices may not reflect the lower pricing.  Shop smart and compare.  Many times,  what you pay in shipping fees makes it a good deal or not.  If you are only ordering a small amount – then bead stores, some Etsy sellers or Rio Grande may be your best bet.

 

 

 

 

5 Comments

  1. Great post! I am just starting out and cannot quite afford purchasing sterling silver yet. It’s nice to see how the current price is adjusting.

  2. What are the beads used on this bracelet called?

    • Hi Theresa. They are faceted golden pyrite in about a 3 mm size.

  3. Yes, I was so psyched about the decrease in silver this week! I bought more, then of course the next day it dipped even lower. It’s a gamble – always hard to know what day to take the plunge! It is so nice to see it around this price again.
    Your new bangle is gorgeous, Tracy…and yes a splurge using so much 16-gauge wire! Well worth it and I bet it will be a favorite to wear!

  4. Oh my gosh, Tracy! I love it! This bangle is stunning! Can’t wait to grab some silver at this price! Just in time for summer creations! Thanks for sharing!

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