Silver Price Rises Above 2008 High

The price of commodity silver has now risen above the 2008 high. This is the highest it has been since the Hunt Brothers of Texas tried to corner the silver market around 1980.

We thought this trend was worth commenting on in this article: Rising price of commodity silver.

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New Links to Current Commodity Silver Price

We receive lots of questions about the market price of pure silver. So, we've added a couple of new features.

Firstly, in the right column of the screen, you will see a small graph containing the current day's pricing of commodity silver. This chart is provided by http://www.kitco.com/.

Secondly, we've added new links to "Our Favorite Links" in the right column of the screen. Clicking on "NYMEX Commodity Silver Prices" will take you to a web page of the New York Mercantile Exchange that displays more information about silver prices. The "Quotes" in the lower right of that screen gives you a snapshot of recent quote activity.

FYI, today, May 29, 2009, the ending price was $15.60 per Troy ounce. That means that the scrap value of a Chantilly place fork in terms of silver content is just under $25.00 today. If you had to sell your fork to a scrap dealer, you could probably get between $13.00 and $15.00 for it.

We also have added a link to a "Precious Metal Calculator". There are several calculators out there but we like this one because of its simplicity. Here are the items to be input:

• Enter the weight in grams
• Select "grams" as the units
• Select ".925 Silver" as the metal
• Enter "-40" in as the markup/discount
• Click "Calculate Value"

The displayed value is a rough idea of what a scrap dealer would be willing to pay you for your sterling.

By clicking on "Comments/Questions" below, you can see posted comments and add your own questions and comments. Or, you can send us an email by clicking on "View My Complete Profile" in the right column.