In Australia (AUD), the spot price of silver fluctuates but is around $119-$120 per ounce, while bars and coins trade at a premium, with 1oz coins selling for about $130-$140 AUD and buy-backs closer to the spot price, depending on the dealer and product. For bulk, like a 1kg bar, expect roughly $3,700 - $4,200 AUD, with significant dealer margins.
As of today, the gold price in Australia stands at AUD $6,325/oz, with silver at $91/oz and platinum at $2,547/oz.
1 kg of scrap silver's worth varies but is based on the current spot price of silver, adjusted for purity (e.g., sterling is ~92.5%, fine silver is 99.9%) and form, with buyers offering less than the spot price to cover costs, roughly $1,500 - $2,500+ USD (or equivalent) depending on quality and market conditions. For instance, if silver is $25/oz, 1kg (32.15 oz) is ~$800 spot, but scrap buyers might pay significantly less.
As of early January 2026, the spot price for 1 ounce of silver is fluctuating around $80 USD, though it varies slightly by source, with sellers adding premiums for physical coins or bars. For example, prices are around $80 USD/oz, but you'll pay more for products, such as $129-$135 AUD for a Perth Mint 1oz silver coin in Australia, reflecting market demand and manufacturing costs.
As of January 9, 2026 at 05:52 PM ET, the live Silver spot price for 1 ounce of Silver in U.S. dollars (USD) is $80.67, 1 gram of Silver is $2.59 and 1 kilogram of Silver is $2,593.60.
Elon Musk stated that China's restrictions on silver exports are "not good," emphasizing silver's critical role in industrial processes, especially for green tech like solar panels, electric vehicles (EVs), and electronics, warning that supply constraints could hinder the energy transition as demand outpaces supply. He highlighted silver's essential nature for manufacturing in numerous sectors, reacting to rising prices and potential shortages.
While the revenue generated from gold bars and silver coins is notable, Costco's foray into precious metals is about more than sales. It's a strategic move to strengthen its relationship with customers, particularly those who view gold and silver as long-term investments.
If you haven't yet invested in silver, you may not want to wait much longer. The price of the precious metal has more than doubled from where it started in early January 2025. And the current market conditions are right for the metal to continue to grow in value, perhaps past new price records as soon as this month.
Yes, silver did "skyrocket" in 2025, with prices more than doubling, reaching all-time highs (over $70/ounce), driven by extreme supply deficits, booming industrial demand (EVs, solar, AI), significant investment inflows, and its role as an inflation hedge, significantly outperforming gold and surprising most forecasts. Experts suggest this surge reflects fundamental supply/demand shifts, with potential for sustained high prices, though volatility remains.
Just like gold, silver has a great resale value. Though it is less precious than gold but significantly expensive than other metals. In case you are in dire need of money, you can sell your silver deposits and arrange for cash. There are many benefits that come along when you sell silver for cash.
Right now, copper is generally the most valuable scrap metal due to high demand for its conductivity, followed by brass, aluminum, and precious metals found in electronic waste like gold and silver, with specific prices varying by grade, location, and current market. Clean, stripped copper wire and plumbing pipes fetch the highest prices, while brass (found in fixtures, doorknobs) offers good value, and even everyday aluminum cans and car batteries (lead) contribute to profits.
For $1,000, you can buy roughly 20 to 35 troy ounces of silver, depending heavily on the current spot price (around $25/oz as of early 2026) and the premium (extra cost) you pay for specific products, with generic silver rounds offering more ounces, while government-minted coins (like Maples) or older 90% "junk" silver bags might yield fewer ounces but offer different benefits, like easier fractional trading.
Yes. The value of a silver coin is dependent on its rarity, grade, and how desirable it is as a collectible. If it is not worth much as a collectible, then its value is based on its silver content. This value can be significantly higher than the coin's face value, depending on the current price of silver.
The 1965 Washington quarter was the first US quarter not made of 90% pure silver. This transition from silver "hard money" to copper coinage resulted in the rare and valuable 1965 silver quarter—one of the most sought-after transitional error coins in American numismatics.
Other gold and silver products sold on Costco.com also have purchase limitations. For example, members can also buy up to two 1-ounce gold coins in one transaction every 24 hours. And sales of 10-ounce silver bars are limited to one transaction, with a maximum of 10 units per day.
The Top Silver Coins in Demand
The 80/50 rule for silver is a precious metals investing strategy using the gold-to-silver ratio: switch into silver when the ratio (ounces of silver per ounce of gold) goes above 80 (silver is cheap), and switch back to gold when it drops below 50 (silver is expensive), aiming to profit from the ratio's mean reversion by rotating between undervalued metals. This strategy signals a good time to buy silver when gold is relatively expensive compared to silver, and a good time to buy gold when silver has become disproportionately expensive.
Silver is typically less expensive and volatile than gold, while gold has the potential to be a more powerful portfolio diversifier. There are several ways to invest in silver and gold, including buying the physical metals, purchasing exchange-traded funds, and investing in mining stocks or funds.
Silver is called the "devil's metal" primarily by traders and investors due to its extreme price volatility, erratic charts with sharp swings, and unpredictable nature, making it risky, though it also has folklore ties to warding off evil spirits and a history tied to betrayal (Judas). Its market behavior, unlike gold's relative stability, often leads to massive gains or losses, earning it a mischievous, almost mischievous, reputation.
Elon Musk has publicly stated he has Asperger's syndrome, a form of autism, which he disclosed during his 2021 appearance on Saturday Night Live. He described his traits as including taking things literally, struggling with social cues, and finding reward in intense focus, suggesting it aids his work. His comments sparked conversations about autism and how individuals, particularly high-profile ones, experience it.
Warren Buffett avoids investing in gold due to its lack of practical uses and inherent value. Buffett favors silver because it fulfills value investing principles, with its use in industrial and medical applications. Gold, largely used for jewelry, lacks the practical applications Buffett seeks in an investment.
Elon Musk closer to becoming first-ever trillionaire as he marks major milestone. The Delaware Supreme Court rules to reinstate his 2018 Tesla stock options worth $139bn, taking his net worth past an unprecedented $700bn.