Silver Price in 1970

In 1970, the price of silver averaged $1.77 per troy ounce at the start of the modern price series. This page covers the 1970 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.

1970 Average

$1.77

LBMA annual average, USD/oz

1970 High

$1.93

from daily trading data

1970 Low

$1.57

from daily trading data

Year-End Close

$1.64

last trading day of 1970

What happened to the silver price in 1970

Silver averaged $1.77 per troy ounce in 1970, according to LBMA annual average data. This is the first year in the modern annual series, based on the Handy & Harman New York average. That December, Congress removed the last silver from US circulating coinage by switching the half dollar to copper-nickel, completing the demonetization that began in 1965. Daily trading data shows silver moved between a low of $1.57 and a high of $1.93 during the year, ending 1970 at $1.64. The notable development of 1970: Congress removes the last silver from US circulating coinage.

The 1970s transformed silver from a demonetized coinage metal into one of the hottest inflation trades of the era. Prices climbed from under $2 per ounce early in the decade to double digits by 1979 as the Hunt brothers built enormous positions.

Adjusted for inflation, silver's 1970 average of $1.77 equals about $15 in today's dollars. The conversion uses US Bureau of Labor Statistics CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

Frequently Asked Questions

What was the price of silver in 1970?

Silver averaged $1.77 per troy ounce in 1970, based on LBMA annual average data. Daily prices ranged from a low of $1.57 to a high of $1.93, and the year closed at $1.64.

What is a 1970 silver price worth in today's dollars?

Adjusted with the US Consumer Price Index, silver's 1970 average of $1.77 works out to roughly $15 in today's dollars, using 2025 as the CPI base year. The conversion uses BLS CPI-U annual averages, so treat it as a close approximation rather than an exact figure.

What moved the silver price in 1970?

The defining story of 1970: Congress removes the last silver from US circulating coinage. This is the first year in the modern annual series, based on the Handy & Harman New York average. That December, Congress removed the last silver from US circulating coinage by switching the half dollar to copper-nickel, completing the demonetization that began in 1965.

Annual averages are LBMA prices per troy ounce in US dollars. Where shown, the yearly high, low, and close come from MetalCharts daily historical data and may differ slightly from figures published elsewhere. Inflation adjustments use BLS CPI-U annual averages.