The silver price is a global figure quoted in dollars per troy ounce (31.1035 g), identical for every dealer. Reading it correctly means converting it into euros per gram of fine silver so you can estimate the order of magnitude yourself before selling.
The silver price forms on international markets and is expressed in US dollars per troy ounce, a unit weighing 31.1035 grams. It reflects global supply and demand: industrial uses, investment demand, the economic backdrop and moves in the dollar against the euro.
This price changes continuously during market sessions, up and down, sometimes sharply from one day to the next. The key point: it is identical for everyone. No dealer sets "their" price; what differs from one to another is only the margin applied, expressed through the buyback rate.
To move from the quoted price to a useful estimate, work through simple steps:
This conversion gives you a theoretical order of magnitude. The amount actually offered will depend on the net rate, but you will know whether an offer comes close to it or falls far short.
Because the price moves, the timing of the sale matters. Following the trend over a few days helps you avoid selling on a brief dip, without trying to time the market perfectly, a risky exercise. Note the reference price on the day of valuation and ask the dealer which price they use.
A transparent dealer displays or states the day's price used and their buyback rate separately. To turn this reading into a concrete comparison, rely on our ranking of silver buyback professionals and on our guide to calculating the buyback price per gram of 925 silver.
No, the silver price is global and identical for everyone. What varies from one dealer to another is the margin, that is the buyback rate, meaning the share of that price actually paid to the seller.
The troy ounce (31.1035 g) is the international reference unit for precious metals, and the dollar is the markets' quotation currency. For your estimate, you need to convert this price into euros per gram of fine silver.