Silver Price in 1978
In 1978, the price of silver averaged $5.40 per troy ounce, up 16.9% from the year before. This page covers the 1978 average, high, low, and year-end close, the events that moved the market, and what that silver would be worth in today's dollars.
1978 Average
$5.40
LBMA annual average, USD/oz
Change vs 1977
+16.9%
from $4.62 in 1977
1978 High
$6.30
from daily trading data
1978 Low
$4.83
from daily trading data
Year-End Close
$6.07
last trading day of 1978
What happened to the silver price in 1978
Silver averaged $5.40 per troy ounce in 1978, climbing 16.9% from the $4.62 average of 1977. Daily trading data shows silver moved between a low of $4.83 and a high of $6.30 during the year, ending 1978 at $6.07. The notable development of 1978: Second oil crisis begins.
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 1978 average of $5.40 equals about $27 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 1978?
What is a 1978 silver price worth in today's dollars?
What moved the silver price in 1978?
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.