If you’re checking your phone to see what is silver selling for today, you probably noticed the number is a lot higher than it used to be. As of Saturday, January 17, 2026, the silver spot price is hovering around $90.88 per ounce.
That’s a wild jump from where we were just a year or two ago. Honestly, the market is moving so fast right now that by the time you finish your coffee, the bid-ask spread has likely shifted again.
But here’s the thing: most people see that $90 number and think they can just walk into a shop and buy an ounce for ninety bucks. You can't. There’s a massive gap between the "paper" price you see on a ticker and the physical metal you can actually hold in your hand.
The Reality of What Silver Is Selling For Today
The "spot price" is basically a theoretical benchmark for large-scale industrial contracts. For the rest of us—the people buying coins, bars, or rounds—we have to deal with "premiums."
Right now, if you want a 1-ounce American Silver Eagle, you aren't paying $90.88. You’re probably looking at closer to **$99.10**. Why? Because demand for physical metal is currently outpacing what the mints can actually produce.
Retailers like SD Bullion and JM Bullion are reporting that while the spot price eased slightly this week from its recent peak of $93.49, the premiums remain stubborn. It’s a supply-demand crunch.
Breaking Down the Costs
- Silver Spot Price: Approximately $90.88 per troy ounce.
- Retail Coins: Expect to pay $95 to $100 depending on the mint.
- Large Bars (100 oz): Usually cheaper per ounce, often selling for a total of around $9,438.
- Junk Silver (90% US coins): Often sells by the "face value" bag, which is currently running near $65,968 for a full bag.
Why Is Silver Exploding Right Now?
It isn't just one thing. It's a perfect storm of industrial need and messy geopolitics.
First off, let’s talk about the solar industry. Silver is the best conductor of electricity on the planet. You literally cannot make a high-efficiency solar panel without it. In 2026, the solar sector alone is gobbling up over 200 million ounces of the stuff.
Then you’ve got electric vehicles. Every EV uses about one to two ounces of silver for its electronics and battery systems. With global production hitting 15 million units this year, that’s a lot of metal being taken out of the investment market and "consumed" by industry.
Then there is the China factor. China’s domestic silver inventories have basically collapsed this year. Because they're the biggest consumer, they've started restricting exports to make sure their own tech companies have enough. That has sent ripples through the London and New York exchanges, leading to the "price discovery" phase we're seeing where the metal is searching for its true value.
The Trump Tariff Wildcard
One of the biggest reasons for the volatility this week is the chatter coming out of the White House. President Trump’s recent comments about potential tariffs on imported metals have traders on edge.
If tariffs hit silver, the domestic price in the US could skyrocket even further. On the flip side, if he explicitly excludes silver to keep solar and tech costs down, we might see a brief "relief" sell-off. Right now, the market is holding its breath.
Silver vs. Gold: The "Poor Man's Gold" No More?
For decades, the gold-to-silver ratio lived somewhere around 80:1. That meant it took 80 ounces of silver to buy one ounce of gold.
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Today, that ratio has crashed down toward 50:1.
Silver is officially outperforming gold. While gold is sitting at roughly $4,595 per ounce, silver’s percentage gains over the last year have been double or even triple what gold has managed.
Some analysts, like Alan Hibbard at GoldSilver, think this is just the beginning. There are serious forecasts suggesting silver could hit triple digits—$100 or even $175—if the structural deficit isn't fixed. And since 75% of silver is just a byproduct of mining other things like copper or lead, miners can’t just "turn on the taps" to get more silver. They have to mine more of the other stuff first.
Actionable Steps for Today's Market
If you're looking to buy or sell today, don't just jump at the first price you see.
- Compare Premiums: Check at least three different major dealers. The "spot" might be the same, but their "over spot" charge varies wildly.
- Look at "Buyback" Prices: If you're selling, ask the shop what their bid price is. Right now, some dealers are paying $1 or $2 over spot just to get inventory back in stock.
- Check the Weight: If you want the most silver for your buck, go for 10-ounce or 100-ounce bars. The 1-ounce coins are pretty, but you're paying a lot for that "art" and government backing.
- Watch the $86 Support: Technically, silver had a brief dip to the $86 range this week before bouncing back to $90. If it breaks below $86, we might see a cooling-off period. If it holds, $100 is the next psychological target.
Silver is no longer just a "safe haven" for when the stock market gets shaky. It’s a strategic industrial asset that the world is running out of. Whether you're holding it for retirement or just curious about the value of that old coin collection in the attic, the current market is one of the most aggressive we've seen in a generation.
Next Steps for You
- Verify your local coin shop's spread against the live $90.88 spot price before visiting.
- Calculate the gold-to-silver ratio (Gold Price / Silver Price) to see if silver is becoming "overvalued" relative to its history.
- Check the current "Ask" price for physical 100-ounce bars if you're looking for the lowest entry premium per ounce.