Quick reference numbers for silver — the ones worth memorizing.
- Atomic symbol: Ag (from argentum, Latin for silver)
- 1 troy oz = 31.1035 grams (not the same as a regular ounce, which is 28.35g)
- Fineness of .999 fine silver: 99.9% pure (American Silver Eagles)
- Fineness of .9999 fine silver: 99.99% pure (Canadian Maple Leafs)
- Annual global mine production: ~25,000–27,000 metric tons (varies by year; USGS)
- Gold/silver ratio: approximately 87:1 — elevated vs. historical averages
- Industrial share of silver demand: approximately 50% (Silver Institute)
- Legal G/S ratio under U.S. Coinage Act of 1792: 15:1
These numbers change. The ones that don’t — troy oz weight, fineness standards, the 1792 ratio — are historical constants.
Sources
[1] U.S. Geological Survey, “Silver Statistics and Information,” accessed February 2026. usgs.gov/centers/national-minerals-information-center/silver-statistics-and-information
[2] The Silver Institute, “Silver Supply & Demand,” accessed February 2026. silverinstitute.org/silver-supply-demand