SILVER FUNDAMENTALS
A concise guide to the details behind a silver quote.
A troy ounce contains 31.1034768 grams. Grams and kilograms must be converted before using a price quoted per troy ounce. For metal-value arithmetic, purity tells you the fine silver content: a 100 g object at 92.5% purity contains 92.5 g of silver.
Coin inscriptions sometimes specify fine silver weight rather than gross product weight. Check the product specification so you do not apply purity twice.
A bar or coin price can include manufacture, distribution, dealer margin and product scarcity. Collectible prices can also reflect factors that this calculator does not value. A premium paid at purchase may not be recovered on resale.
A seller's ask and a buyer's bid can differ. Comparing a retail purchase price with a chart midpoint can understate the costs of entering and leaving a position. Use a dealer's actual buyback quote when it is available.
Home delivery, pooled arrangements and allocated vault storage involve different terms. Review ownership documentation, access, insurance, storage charges and selling procedures. A market chart alone cannot answer those questions.
Annual supply-and-demand estimates describe a period. Market quotes describe a moment. Neither a supply deficit nor a technology trend guarantees a future price direction.
Further reading: BullionVault's silver guide · LBMA Silver Price. Calculator methods are stated on the tool page.