Silver Price in 1974

In 1974, the price of silver averaged $4.71 per troy ounce, up 83.6% from the year before. This page covers the 1974 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.

1974 Average

$4.71

LBMA annual average, USD/oz

Change vs 1973

+83.6%

from $2.56 in 1973

1974 High

$6.70

from daily trading data

1974 Low

$3.27

from daily trading data

Year-End Close

$4.37

last trading day of 1974

Silver Price Chart, 1970 to 1990

Annual average silver price per troy ounce, 1970 to 1990, with 1974 marked.

Silver Price by Month in 1974

Each month's average of daily closing prices, with its high and low, per troy ounce. These come from MetalCharts daily spot data, so they can differ slightly from the annual average above, which is based on LBMA annual average data.

Month	Average	High	Low
January 1974	$3.64	$4.02	$3.27
February 1974	$5.36	$6.70	$4.12
March 1974	$5.33	$5.70	$4.99
April 1974	$5.04	$5.78	$4.32
May 1974	$5.43	$6.06	$4.63
June 1974	$4.90	$5.33	$4.59
July 1974	$4.42	$5.17	$3.95
August 1974	$4.43	$4.78	$4.10
September 1974	$4.05	$4.41	$3.85
October 1974	$4.82	$5.20	$4.49
November 1974	$4.69	$5.16	$4.26
December 1974	$4.40	$4.82	$4.09

What happened to the silver price in 1974

Silver averaged $4.71 per troy ounce in 1974, surging 83.6% from the $2.56 average of 1973. Annual moves of that size are rare and put 1974 among the most explosive years in the metal's modern history. Daily trading data shows silver moved between a low of $3.27 and a high of $6.70 during the year, ending 1974 at $4.37. The defining story of 1974: Inflation drives hard-asset demand.

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 1974 average of $4.71 equals about $31 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 1974?

Silver averaged $4.71 per troy ounce in 1974, based on LBMA annual average data. Daily prices ranged from a low of $3.27 to a high of $6.70, and the year closed at $4.37. That average was up 83.6% from $2.56 in 1973.

What is a 1974 silver price worth in today's dollars?

Adjusted with the US Consumer Price Index, silver's 1974 average of $4.71 works out to roughly $31 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 1974?

The defining story of 1974: Inflation drives hard-asset demand. Against that backdrop, the annual average climbed 83.6%, from $2.56 in 1973 to $4.71.

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.