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

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.