Silver Price in 1971

In 1971, the price of silver averaged $1.55 per troy ounce, down 12.4% from the year before. This page covers the 1971 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.

1971 Average

$1.55

LBMA annual average, USD/oz

Change vs 1970

-12.4%

from $1.77 in 1970

1971 High

$1.75

from daily trading data

1971 Low

$1.29

from daily trading data

Year-End Close

$1.38

last trading day of 1971

What happened to the silver price in 1971

Silver averaged $1.55 per troy ounce in 1971, down 12.4% from $1.77 the year before. Daily trading data shows silver moved between a low of $1.29 and a high of $1.75 during the year, ending 1971 at $1.38. The notable development of 1971: Nixon Shock ends Bretton Woods in August.

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 1971 average of $1.55 equals about $12 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 1971?

Silver averaged $1.55 per troy ounce in 1971, based on LBMA annual average data. Daily prices ranged from a low of $1.29 to a high of $1.75, and the year closed at $1.38. That average was down 12.4% from $1.77 in 1970.

What is a 1971 silver price worth in today's dollars?

Adjusted with the US Consumer Price Index, silver's 1971 average of $1.55 works out to roughly $12 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 1971?

The defining story of 1971: Nixon Shock ends Bretton Woods in August. Against that backdrop, the annual average fell 12.4%, from $1.77 in 1970 to $1.55.

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.