TASS FACTBOX. On January 23, 2026, the price of silver hit a new all-time high exceeding $100 per Troy ounce (31.1035 grams) on the Comex exchange (a division of the New York Mercantile Exchange).
TASS takes a look at how the price of silver has fluctuated over the years.
Historically, silver has been one of the main metals used for coinage throughout much of the world. Silver didn’t always have a globally recognized value - depending on the availability of mines and the demand for cash, it could be cheaper in some regions and more expensive in others.
In the vast majority of countries, until the second half of the 19th century, silver was the primary metal for cash circulation and international trade. Its importance began to decline due to the transition to the gold standard, as well as improvements in counterfeiting technologies for paper money, bills, and other forms of exchange.
During World War I (1914-1918), the free exchange of banknotes for gold ceased in the warring powers, resulting in the virtual disappearance of silver in many countries, including the Russian Empire.
