If you walked into a coin shop a year ago and told the guy behind the counter that silver would be flirting with ninety bucks an ounce today, he probably would’ve laughed you out of the store. Well, nobody is laughing now. Honestly, the price of silver today per ounce in US markets is doing things that seasoned traders haven't seen since the Hunt brothers tried to corner the market back in the late 70s.
It's wild.
As of right now—Friday, January 16, 2026—the spot price of silver is sitting at approximately $90.12 per ounce.
Keep in mind, that’s the "spot" price, basically the raw value for massive industrial contracts. If you’re trying to actually buy a physical Silver Eagle or a 10-ounce bar, you’re looking at premiums that might push your actual out-of-pocket cost closer to $98 or $105 depending on where you shop.
The market is moving fast. Like, blink-and-you-miss-it fast. Just yesterday, we saw it poke its head above $93, a fresh all-time high, before it pulled back a bit today as people decided to take their profits and run.
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Why the Price of Silver Today Per Ounce in US is Exploding
You've probably noticed that your grocery bill is still high and the economy feels... weird. That's part of it. But silver isn't just a "scared money" play anymore. It’s a "we-need-this-to-make-everything" play.
Think about it.
Every single electric vehicle (EV) rolling off the assembly line uses significantly more silver than the old gas guzzlers. Then you’ve got the solar industry. Solar panels are basically silver-hungry monsters. In 2025, we saw a massive supply deficit where the world used way more silver than the mines actually dug up. That hasn't changed in 2026.
The Big Drivers Right Now
- Industrial Shortage: We’ve had five straight years where demand outstripped supply. You can only dip into the "vaults" for so long before the cupboard starts looking bare.
- The Federal Reserve Factor: There's a lot of chatter about the Fed finally cooling off on interest rates. When rates go down, or even stop going up, people tend to ditch the dollar and grab "hard" stuff like silver and gold.
- The Gold-to-Silver Ratio: Historically, this ratio tells us how many ounces of silver it takes to buy one ounce of gold. For a long time, it was stuck around 80:1. Recently, it crashed down toward 50:1. That means silver is gaining ground on its "big brother" gold at a record pace.
- Geopolitics: Let's be real. Between trade wars and tensions in Eastern Europe and the Middle East, nobody trusts "paper" money as much as they used to.
Is $100 Silver Actually Going to Happen?
If you listen to the folks over at Bank of America, they’re not just talking about $100. Some of their more aggressive analysts, like Michael Widmer, have floated numbers as high as $135 or even $300 in extreme "short squeeze" scenarios.
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Does that mean you should bet the house on it? Probably not.
Silver is famously volatile. It’s nicknamed "The Devil’s Metal" for a reason. It can go up 10% on a Tuesday and give it all back by Thursday morning. We're seeing that today. After hitting $93, we’re back down near $90 because of some easing in geopolitical headlines and a slight recovery in the US Dollar Index (DXY).
Buying Physical vs. Paper Silver
If you’re looking at the price of silver today per ounce in US dollars and thinking about jumping in, you've got to decide how you want to play it.
There’s the "paper" way—buying an ETF like SLV or SIVR. It’s easy. You click a button on your phone, and you own "silver." But you don't actually hold it. If the world goes sideways, you just have a digital receipt.
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Then there’s the "stacker" way. This is physical bullion. Junk silver (pre-1965 quarters and dimes), sovereign coins, or bars. The upside? You have it in your hand. The downside? Those premiums I mentioned earlier. You are almost always going to pay more than the spot price to get physical metal.
What to Watch Next
Don't just look at the ticker. Watch the manufacturing data out of China and the US. If the "green energy" transition slows down, silver might lose some of its luster. But if the solar and EV sectors keep booming, that $90 price point might eventually look like a bargain.
Also, keep an eye on the "First Notice" dates on the COMEX. When big institutional buyers demand physical delivery of their silver instead of just settling for cash, it puts massive pressure on the remaining supply.
Your Action Plan:
- Check the Bid/Ask Spread: Don't just look at the "spot" price. Check what dealers are actually selling for.
- Monitor the Gold/Silver Ratio: If it starts climbing back toward 70 or 80, silver might be getting "cheap" relative to gold again. At 50, it's relatively "expensive" compared to historical norms.
- DCA (Dollar Cost Average): If you're buying, don't go all-in at $90. Prices are at record highs. Maybe buy a little now, and a little more if it dips back toward $80.
- Verify Your Sources: Only buy from reputable dealers like JM Bullion, SD Bullion, or local shops with a long history. Fake silver bars are unfortunately a real thing in a high-price environment.
The market is heated. It’s exciting, sure, but it’s also risky. Silver has always been the "poor man's gold," but at $90 an ounce, it’s starting to look like a rich man’s game.