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In 1792, the gold/silver price ratio was fixed by law in the United States at 15:1, [11] which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1 was enacted in France in 1803. [12] The average gold/silver price ratio during the 20th century, however, was 47:1. [13]
Year No. State/territory Site US Mint Item# Release Date Bullion Mintage [5] Uncirculated Mintage 2010 1 Arkansas Hot Springs National Park: NP1 4/19/2010 33,000 ea. 27,000 ea. 2 Wyoming Yellowstone National Park: NP2 6/1/2010 3 California Yosemite National Park: NP3 7/26/2010 4 Arizona Grand Canyon National Park: NP4 9/20/2010 26,019 5 Oregon
In July 1981, the House and Senate agreed to allow the sale of 75% of the stockpiled silver (105.1 million troy ounces) over a three-year period, [5] and in September the price of silver fell 11% in response. [13]
Silver prices since 2000 until April 2015. Price quotes given in USD per ounce. Date: 21 April 2015: Source: based on www.kitco.com; using price quotes for silver .
In 1979, the price for silver (based on the London Fix) jumped from $6.08 per troy ounce ($0.195/g) on January 1, 1979, to a record high of $49.45 per troy ounce ($1.590/g) on January 18, 1980, an increase of 713%, with silver futures reaching an intraday COMEX all-time high of $50.35 per troy ounce and a reduction of the silver/gold ratio down to 1:17.0.
Silver nitrate is the starting material in all cases. [125] The market for silver nitrate and silver halides for photography has rapidly declined with the rise of digital cameras. From the peak global demand for photographic silver in 1999 (267,000,000 troy ounces or 8,304.6 tonnes) the market contracted almost 70% by 2013. [126]
Interest in silver mining has increased in recent years because of an increased price for the metal: the average silver price increased from $4.39 per troy ounce for the year 2001, to $13.45 per troy ounce for 2007. [2] In 2011, silver prices rose to almost $49 per troy ounce in April before dropping to around $34 per troy ounce in late June.
Silver: 0.07234 troy oz Years of minting: 1891 (patterns only)1892–1916 (regular issues) Mint marks: D, O, S.Located on reverse beneath wreath. Philadelphia Mint specimens lack mint mark.