If you haven’t checked your old coin jars or that silver bar sitting in your sock drawer lately, you’re in for a bit of a shock. Honestly, most people still think silver is that "cheap" metal that hangs out around $25 or $30. But those days are long gone. Right now, in mid-January 2026, the market has basically flipped the script on what we thought we knew about precious metals.
So, let's get right to it. 1 oz of silver is worth approximately $90.88 as of today, January 17, 2026.
That number is a moving target, obviously. It's been bouncing between $88 and $93 over the last week. If you’re looking at a silver coin and thinking, "Wait, didn't I buy this for $30 a couple of years ago?" you aren't imagining things. Silver has nearly tripled in value in just twelve months. It’s been a wild ride that has left even the most seasoned Wall Street analysts scratching their heads.
What's actually driving the price of 1 oz of silver?
You've probably heard the old saying that silver is "gold’s crazy cousin." It usually follows gold, but with way more drama. This time, though, silver isn't just following; it’s leading.
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There's a massive shift in how the world sees this metal. It’s no longer just a "safe haven" for when the stock market gets shaky. It’s now being treated like a strategic industrial asset. Think of it more like lithium or copper, but with the added bonus of being a precious metal that people hoard when inflation gets sticky.
The Solar and EV "Silver Squeeze"
The biggest culprit behind the price hike? Green energy.
- Solar Panels: Every single photovoltaic cell needs silver for its conductive paste. There is no cheap substitute. In 2025, solar manufacturers inhaled over 25% of the global silver supply.
- Electric Vehicles: An average EV uses about 1 to 2 ounces of silver for all the complex electronics and battery management systems. With global production scaling to 15 million units this year, that’s a lot of metal leaving the vaults and going into car bumpers.
- AI Data Centers: This is the new one. AI requires massive amounts of power and high-efficiency electrical contacts. Silver’s unique conductivity makes it irreplaceable in the precision circuitry needed to handle those extreme power loads.
Why 1 oz of silver is worth more than just the "Spot Price"
When you see "$90.88" on a screen, that’s the spot price. That's the price for a massive 5,000-ounce contract of "paper silver" on the COMEX exchange. But if you walk into a local coin shop or try to buy a 1 oz Silver Eagle online, you’re going to pay more.
This is what we call the premium.
Because physical silver is so tight right now—we are in our fifth straight year of a global supply deficit—dealers are charging a hefty markup. You might find yourself paying $95 or even $100 for a single ounce coin. It’s sorta like trying to buy a popular car during a chip shortage; the sticker price is just a suggestion.
The "Real" Reason for the 2026 Surge
While industry is eating up the supply, the "fear factor" is still very much alive. Inflation has stayed "sticky" around 2.7%, which is higher than the Federal Reserve’s 2% target. When people realize their cash is losing value, they run to metals.
"Silver is currently administering shock therapy to the market," says one report from GOLDINVEST.de. They aren't kidding.
We’ve seen a massive "re-rating" of silver. Investors who used to ignore it are now seeing it as "Gold plus industrial leverage." It captures the hedge against a falling dollar, but it also grows because the world literally cannot build a modern electrical grid without it.
Mining can't keep up
Here’s the thing most people don't realize about silver: most of it is a byproduct.
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About 75% of silver comes out of the ground because someone was looking for lead, zinc, or copper. If copper miners aren't opening new mines, silver supply stays flat. Even with prices near $90, you can't just flip a switch and get more silver. It takes 10 to 15 years to bring a new mine from discovery to production.
We are basically running on fumes. Above-ground stockpiles in London and Shanghai have been cratering. According to the London Bullion Market Association (LBMA), silver available for immediate delivery has dropped by over 40% since 2020.
Is $100 silver actually going to happen?
It’s the question everyone is asking. Some experts, like Alan Hibbard at GoldSilver, think $100 is almost a certainty in 2026.
Honestly, it feels like we’re in "price discovery" mode. When a metal breaks out of a decades-long range, there isn't much historical data to tell us where it stops. We saw silver hit an all-time high of $93 just a few days ago on January 14th.
If the Federal Reserve keeps cutting rates, which makes the dollar weaker, silver becomes even more attractive to international buyers. Plus, with the US government now reportedly viewing silver as a "national security issue" due to its role in defense technology, the floor for the price seems much higher than it used to be.
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What most people get wrong
A lot of folks think they should wait for a "dip" to the old $20 or $30 levels.
That’s probably a pipe dream. The structural deficit—meaning we use more than we mine—is so deep (around 160 to 200 million ounces short in 2025) that a return to those prices would likely mean the global economy has completely collapsed.
Instead, "buying on the dips" nowadays means hoping for a pullback to $80.
Practical steps for your silver
If you're holding silver right now, or thinking about getting some, here’s how to handle the current $90+ environment:
- Check your "Junk" Silver: Old US quarters and dimes from 1964 and earlier are 90% silver. At today's prices, a single "silver quarter" has a melt value of about $16. Don't spend them at the vending machine!
- Watch the Gold/Silver Ratio: Historically, this ratio was around 15:1. For much of the 21st century, it was 80:1. As of now, it's tightening toward 50:1. When this ratio drops, it means silver is outperforming gold.
- Consider the Exit: If you bought at $20, you're up more than 300%. It’s never a bad idea to take some profits, but keep in mind that replacing that physical silver might be harder (and more expensive) than you think if the supply squeeze continues.
- Storage Matters: With 100 ounces now worth nearly $10,000, that "shoebox under the bed" strategy is getting risky. It might be time to look into a high-quality home safe or a professional vaulting service.
The reality is that 1 oz of silver is worth a lot more than just the dollar amount on a ticker. It represents a piece of a dwindling global supply that the modern world desperately needs for everything from your smartphone to the solar panels on your roof. Whether it hits $100 tomorrow or consolidates at $90 for a while, the "cheap silver" era is officially in the rearview mirror.
To stay ahead of the curve, keep a close eye on the weekly COMEX inventory reports and the Federal Reserve’s inflation commentary, as these remain the two biggest levers for silver's next big move.