Silver price is currently hovering around $30 / troy oz.
When Silver price hits $31.10 / troy oz each gram of Silver will be exactly $1.
Silver is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.
Silver Size Chart:
This is a chart of standard Silver bullion size comparison.
The silver bars are measured by Silver volume & weight of
10.49 g/cm−3 in typical Silver Bar Dimensions.
1 Ton of Silver = $1 Million @ $31.10 / Troy oz
Silver price is hovering around $30/ troy oz, once Silver hits $31.10 / troy oz, Silver will cost exactly $1/gram,
at that point the 1 Ton of Silver displayed above will be worth exactly $1 Million Dollars
Silver is not purposely mined, 80% of new Silver production is a by-product of Gold or Copper mining, this is due to Silver's recent low value compared to other metals.
Silver has the best electrical conductivity of any element and highest thermal conductivity of any metal.
1 Ton of Silver
10 Tonnes of Silver
100 Tonnes of Silver
1000 Tonnes of Silver
The 1 ton of silver is worth $1 million dollars at $31.10 / troy oz.
While there are significant Silver reserves underground, due to the low prices they are not being mined. Silver has run a 63 year long supply/demand deficit as of year-end 2004, this is mainly
due to Silver getting lost and industrial production demand, including x-rays, photography, mirrors, electrical and electronic products.
This amounts to a deficit of 331.46 Tonnes since 1942
World Silver Reserves
Official Holdings - 29,665 Tonnes
BMG Bullion Fund 156.5 Tonnes
Silver ETF ZKB 230.0 Tonnes
Canadian Maples Minted 662.5 Tonnes
LBMA Estimated stocks 2332.7 Tonnes
Central Fund of Canada 2339.2 Tonnes
Estimated Private Bullion 3732.4 Tonnes
COMEX Warehouses 3548.9 Tonnes
US Eagles Minted 7477.8 Tonnes
Silver ETF SLV 9185.2 Tonnes
All Silver Mined in History - 1,411,475 T
|The historical cumulative Gold to Silver production ratio is 1:10.7. Source |
The price ratio of Silver to Gold is currently around 1:50.
A thorough analysis of world Silver supply and demand, and the source of the data above can be found here: Article 1, Article 2, Article 3
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