GoldInvestingGold and Silver Side by Side, and How to Buy Silver
Owning gold and silver: how to buy silver coins and bars, how a Silver Eagle sits next to a Gold Eagle, what the gold/silver ratio means, and silver IRAs.
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You buy silver the same way you buy gold: bullion coins or bars from a dealer at the spot price plus a premium, or inside a self-directed IRA. The big difference is the price per ounce. In 2025 one ounce of gold cost about as much as 86 ounces of silver on World Bank yearly averages, so the same budget buys a lot more metal.
Gold and silver, coin for coin
The U.S. Mint makes a one-ounce bullion coin in each metal under the same American Eagle name, which makes for a clean side-by-side.
| Spec | Gold Eagle (1 oz) | Silver Eagle (1 oz) |
|---|---|---|
| Metal content | 1 troy oz gold | 1 troy oz silver |
| Composition | 91.67% gold, 3% silver, balance copper | 99.9% silver |
| Total weight | 1.0909 troy oz (33.931 g) | 1.000 troy oz (31.103 g) |
| Diameter | 32.70 mm | 40.60 mm |
| Face value | $50 | $1 |
| Other sizes | 1/2, 1/4, 1/10 oz | 1 oz only |
Notice the diameter. A Silver Eagle is 40.60 mm across against 32.70 mm for the one-ounce Gold Eagle, and silver takes up more room per dollar in general. The Mint says it has sold more than 22 million troy ounces of Gold Eagles and more than 500 million troy ounces of Silver Eagles since 1986, and it guarantees the weight, content and purity of both. The American Gold Eagle profile covers the gold coin in full.
What is the gold/silver ratio?
It's the price of an ounce of gold divided by the price of an ounce of silver, which tells you how many ounces of silver one ounce of gold would buy. That's all it is: a description of two prices, with no signal built in.
| Year | Gold | Silver | Ratio |
|---|---|---|---|
| 1980 | $608 | $20.80 | 29 |
| 1991 | $362 | $4.10 | 88 |
| 2000 | $279 | $5.00 | 56 |
| 2011 | $1,569 | $35.20 | 45 |
| 2020 | $1,770 | $20.50 | 86 |
| 2025 | $3,442 | $39.80 | 86 |
We calculated the ratios from the yearly averages and rounded them. The World Bank's silver series is 99.9% refined silver at the London fixing (Handy & Harman before July 1976). Past performance does not guarantee future results.
Both prices move. Silver's yearly average was $35.20 in 2011 and $15.70 in 2015. Gold's was $1,670 in 2012 and $1,161 in 2015. Swings like that come with owning either metal.
The three silver coins U.S. buyers see most
U.S. buyers mostly see three, each from a national mint that states the silver content and fineness.
| Coin | Issuer | Silver content | Fineness | Diameter | Face value |
|---|---|---|---|---|---|
| American Silver Eagle | U.S. Mint | 1 troy oz | .999 | 40.60 mm | $1 |
| Silver Maple Leaf | Royal Canadian Mint | 31.11 g (1 troy oz) | .9999 | 38 mm | $5 (Canadian) |
| Britannia | The Royal Mint (UK) | 1 troy oz | .999 | 38.61 mm | £2 |
The Silver Eagle carries Adolph A. Weinman's 1916 Walking Liberty design, and since 2021 its reverse has shown an eagle landing with an oak branch. All three are bullion coins, priced on silver content plus a premium.
Silver bars, by weight and fineness
Bars are sold by weight and stamped with their fineness and the refiner's name. Wholesale bars are huge. The LBMA's Good Delivery silver bar is 1,000 troy ounces, with a 10% tolerance either way and a minimum fineness of 999.0 parts per thousand, and COMEX silver futures are for 5,000 troy ounces of silver that assays "to a minimum of 999 fineness."
The bars individual buyers get are much smaller, but the idea's the same: the stamp tells you the weight and the purity.
Don't confuse bullion with jewelry silver. The FTC says "sterling" means 92.5% pure silver, often marked 925. Bullion is .999 or finer.
How do you buy silver?
- Check the silver spot price, the cash price for immediate delivery of physical metal.
- Pick coins or bars by weight and fineness. One-ounce coins are where most people start.
- Get quotes from a few dealers: total price, premium per ounce, shipping and the buyback price. The CFTC notes that "A dealer will always sell metal above the spot price and buy it back below the spot price."
- Plan where it'll live. Silver needs more space than gold for the same dollars; see storage options.
- Keep your invoice. It records what you paid.
The dealer checks in our buying gold guide apply to silver too, and the premium calculator works on any quote.
Price over spotSee what a dealer is really charging above the gold price. How a silver IRA works
It's a self-directed IRA that holds physical silver. IRS Publication 590-A says an IRA can invest in "one-ounce silver coins minted by the Treasury Department," meaning the American Silver Eagle, and in "certain gold, silver, palladium, and platinum bullion."
Section 408(m) of the tax code sets the bullion test. The metal has to meet the minimum fineness a futures exchange requires for delivery, and it has to be "in the physical possession of a trustee." For silver, COMEX's minimum is 999 fineness, which the Silver Maple Leaf (.9999) and the Britannia (.999) both meet. Our gold IRA guide explains the account, and the coin checker tests a specific coin or bar.
Augusta Precious Metals has a minimum investment of $50,000 and lists fees of $50 one time to open, $125 a year administration (custodian) and $100 a year storage. Its preferred custodian is Equity Trust and its preferred depository is Delaware Depository.
Owning gold, silver or both
That's your call, and many owners hold both. Say you have $10,000 to put into metal. Spent on silver, it buys many times the ounces it would in gold, about 86 times on 2025 averages, and all that silver weighs and fills far more.
Sizes differ too. Gold comes in fractional coins down to 1/10 oz (1/20 oz for the Maple Leaf), while the one-ounce coin is the usual unit in silver. On the IRA side, both metals qualify in the forms above, held by the trustee.
For the gold side, start with how to invest in gold.
What silver buyers ask about gold and silver
How do I buy silver?
Buy silver bullion coins or bars from a dealer at spot plus a premium, or hold them in a self-directed IRA. Ask for the total price and the buyback price before you pay.
Gold vs silver: what is the difference for investors?
Both are bought by weight and purity. Gold costs far more per ounce, about 86 ounces of silver per ounce of gold on 2025 World Bank averages, so silver takes much more space for the same dollars. Both can go in an IRA in qualifying forms.
Should I invest in gold or silver?
That's up to you, and plenty of people own both. Compare the coins, the premiums you're quoted, and where you'll store the metal.
What is the gold to silver ratio?
The gold price divided by the silver price. On World Bank yearly averages it was about 29 in 1980, 45 in 2011 and 86 in 2025.
Can I put silver in an IRA?
Yes. IRS Publication 590-A allows one-ounce silver coins minted by the Treasury and certain silver bullion, held by the IRA trustee or custodian.
Is a Silver Eagle pure silver?
The U.S. Mint lists it at 99.9% silver, one troy ounce (31.103 g).
Sources and fact-check12 primary sources, checked October 17, 2026
- U.S. Mint: Bullion Coin Programs (American Eagle gold and silver specifications)
- U.S. Mint: American Eagle Coin Program
- Royal Canadian Mint: 2026 Silver Maple Leaf 1 oz bullion coin
- Royal Canadian Mint: 2026 Gold Maple Leaf 1 oz bullion coin
- The Royal Mint: Britannia 2026 1oz Silver Bullion Coin
- World Bank: Commodity Markets (Pink Sheet), annual prices, nominal U.S. dollars
- LBMA: Good Delivery Rules, technical specifications
- CME Group: Silver futures contract specs
- FTC: Buying Platinum, Gold, and Silver Jewelry
- IRS: Publication 590-A, Contributions to Individual Retirement Arrangements
- 26 U.S. Code section 408(m), via Cornell Legal Information Institute
- CFTC: 10 Things to Ask Before Buying Physical Gold, Silver, or Other Metals
We check every figure against the original source: the mint, the regulator, the exchange or the company itself. Spotted something out of date? Tell us.
