Price of Silver in 2008

During the first half of 2008, investors drove the price of silver above $20 an ounce. In the year’s second half, the economic outlook swiftly deteriorated, and silver prices, along with those of other metals, declined.

The charts below show the Silver Prices in 2008 and the movement of spot prices throughout the year.

Silver Prices 2008 Chart

What Impacted Silver Prices in 2008?

A record inflow of nearly 93.1 million ounces (Moz) into the three largest silver ETFs in 2008 contributed to the high price average, as investors drove silver to its highest price in decades, both in terms of daily price and annual average.

The production of coins and medals increased by a staggering 63% in 2008, to reach a record high of 64.9 Moz. This supply was to meet the demand of bullion investors from the US and Europe.

The U.S. Silver Eagle bullion coin production alone reached a record 19.6 Moz, roughly double the amount produced in 2007.

Daily Silver Prices (Chart)

To find the daily prices for Silver in this year, use the date filters in the chart above.

The information provided here is for educational purposes only and should not be used for speculation and investment purposes. CanAm does not guarantee that the prices shown here are correct, up-to-date, or complete, and we are not responsible for inaccuracies or omissions in this price data.

Which Silver Investment is Most Profitable?

You can invest in silver in many ways, including silver futures contracts, exchange-traded fund investments, or silver mining stocks. However, the most profitable is investing in physical silver itself – coins, bars and rounds.

One of the most popular reasons for investing in silver bullion is that it’s a liquid investment – it can be easily sold and bought. Also, some coins can be used as legal tender, which can be useful in times of hardship, and the value of silver tends to increase when the economy is down, which makes it easier to sell for profit.

Buy Silver Online with CanAm

Physical silver has become a more appealing option for investors in precious metals in recent years, given its affordability and availability.

Here at CanAm, we aim to help you diversify your assets by providing high-quality, pure silver bars or silver bullion that you can add to your gold holdings. Our customer service team is on hand to assist with any concerns or questions, or you can simply head to our online store and start shopping today.