Silver Prices

The price of silver went from $1.55 an ounce in 1972 to $4.39 in 1974. When the Hunt Brothers started to buy silver futures, raw silver went over $44 an ounce. But by 1980, silver was back to about $16, and by 1986, it was $5.30 an ounce. It was more profitable to melt old silver than to sell it unless the maker was very famous. Much coin silver was destroyed.