How Much Can I Sell My 1-Ounce of Silver Now?

Above, silver Britannia coins. Photo by Armand Vaquer.

A few minutes ago, I took a look at the current spot price of silver. At Comex, it sits at $114 per troy once.

Many of use had purchased silver over the years when the price was low. It is now tempting to sell at the current spot price. The question is: can you?

CBS News posted an article on how much can one sell their one ounce of silver. 

The article starts with:

Silver has been on a remarkable run recently, with prices climbing dramatically over the past year as investors seek out safe-haven assets amid economic uncertainty. The precious metal has outpaced gold on its uphill ascent and has even surpassed many traditional investments, drawing attention from both longtime precious metal enthusiasts and newcomers looking to capitalize on the rally. This surge has pushed silver to record-high price levels, creating a compelling environment for anyone holding physical silver.

The recent price trajectory also reflects broader market dynamics, including persistent inflation concerns, geopolitical tensions and growing industrial demand, all of which have contributed to silver's strength. Unlike gold, which primarily serves as a store of value, silver's dual role as both an investment and an industrial commodity has amplified its price movements. And, as economic uncertainty continues to drive investors toward tangible assets, silver has emerged as an increasingly attractive option for portfolio diversification.

And, if you purchased silver coins months or years ago, this rally represents a significant gain on paper. But if you're holding a 1-ounce silver coin you want to sell, it's important to know that what you'll receive won't be equal to today's spot price. Numerous elements determine the real cash value you'll walk away with. So, how much can you sell a 1-ounce coin for right now? That's what we'll outline below.

To read further, go here.