If you’re checking the price of silver today, Sunday, January 18, 2026, you’re looking at a market that has basically gone parabolic. Right now, a troy ounce of silver is sitting around $90.88. Honestly, it's wild. Just a year ago, we were talking about silver being "undervalued" at $30. Now? It’s the metal everyone is chasing.
But here’s the thing: that $90.88 is the "spot price." If you walk into a coin shop or try to buy a silver eagle online, you aren't paying $90.88. You’re going to pay a premium. Between the dealer's cut and the massive demand we've seen since the start of 2026, you're likely looking at $95 or even $100 for a single physical coin.
Why a Troy Ounce Isn't What You Think
Most people hear "ounce" and think of the scale in their kitchen. Big mistake.
A standard ounce (the kind used for sugar or mail) is about 28.35 grams. But precious metals use the troy ounce, which is roughly 31.1 grams. That 10% difference might seem small when silver was cheap, but at today's prices, ignoring those three grams means you're miscalculating your net worth by nearly ten dollars per ounce.
It's a weird, old system. It actually dates back to the Middle Ages in Troyes, France. While the rest of the world moved on to different measurements for groceries, the banking and bullion world stayed stuck in the past.
If you see a "1 lb" bar of silver, you have to be careful. Is it a troy pound or a standard pound? A troy pound only has 12 troy ounces. A standard pound has 16. If you buy a "pound" of silver assuming it's 16 troy ounces, you’ve basically just been scammed by math. Always check the gram count.
The 2026 Silver Explosion: What’s Going On?
The price has been on an absolute tear. We started 2026 around $71, and we’ve already seen a 25% jump in just over two weeks. It's a "perfect storm" situation.
First, industrial demand is a beast. Silver isn’t just for jewelry or "preppers" anymore. Every solar panel, every electric vehicle (EV), and basically every AI-driven data center needs silver. It’s the most conductive metal on the planet. You can’t just swap it out for something cheaper without losing efficiency.
Supply is the other half of the headache. We’ve been in a structural deficit for five years straight. Mines aren't producing enough to keep up with the "green energy" transition. In 2025 alone, the market was short nearly 200 million ounces. When you have more people wanting a troy ounce of silver than there are ounces available, the price only has one way to go: up.
Geopolitics are also playing a huge role. Between trade wars and currency volatility, investors are treated silver like a life raft. It's the "poor man's gold," but lately, it’s outperforming gold by a mile.
Current Market Snapshots (Approximate)
- Spot Price: $90.88
- Physical Coin Price: $94.00 - $102.00 (depending on the mint)
- 1 Kilogram Bar: Roughly $2,921.00
- 24-Hour Change: Down about 2%, following a massive rally last week.
Avoid These Common Buying Mistakes
Kinda feels like everyone is a silver expert lately, but most people are making the same three mistakes.
- Paying Insane Premiums: Some "collector" coins are being sold for $150 or more because they have a certain picture on them. Unless you’re a numismatic expert, stick to "bullion." You want the metal, not the art.
- Ignoring Sales Tax: Depending on where you live, the government might take a bite out of your purchase. Some states waive tax if you buy over a certain amount (like $1,000 or $1,500). If you buy one ounce at a time, you might be losing 7-10% just to the taxman.
- Storage Risks: Keeping $10,000 worth of silver in a shoebox under your bed is a bad idea. But "paper silver" (ETFs) has its own risks too. If you don't hold it, you don't own it—that's the old saying.
Where to Actually Get It
If you're looking to buy, check out reputable online dealers like JM Bullion or SD Bullion. Even Costco has started selling silver bars and coins online, and their prices are surprisingly competitive if you can catch them before they sell out.
Local coin shops (LCS) are great too because you can pay cash and walk out with the metal the same day. Plus, you don't have to worry about the mailman losing a heavy box. Just be prepared for them to be low on stock; with silver hitting $90+, a lot of shops are cleared out.
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Is it Too Late to Buy?
That’s the $90 question. Some analysts, like Alan Hibbard at GoldSilver, think silver could hit $175 this year. Others, like the folks at HSBC, think the market is overextended and we might see a correction back toward the $60 or $70 range.
It's volatile. Really volatile. Silver can drop $5 in an hour and then gain $7 the next day. If you have a weak stomach, this isn't the market for you. But if you're looking at the long-term industrial "crunch," the case for silver remains pretty strong.
Actionable Next Steps
- Check the current "Ask" price: Don't just look at the spot price. The "Ask" is what dealers are selling at.
- Verify the weight in grams: 31.1g is the magic number for a troy ounce.
- Calculate the premium: If spot is $90 and the coin is $105, you're paying a 16% premium. That's high. Try to find premiums under 10% if possible.
- Look at "Constitutional Silver": These are pre-1965 US quarters and dimes. They are 90% silver and often have lower premiums than new coins.
The market is moving fast. If you're serious about silver, stop watching the daily charts and start looking at the physical availability. The "how much" part is easy to find on Google; the "can I actually get it" part is where the real challenge is in 2026.