Silver Price in 1994
MONTHLY AVERAGES, US DOLLARS PER TROY OUNCE.
The highest month of 1994 was September at $5.50. The lowest was December at $4.80. The 1994 average was +22.63% compared with the 1993 average ($4.31). From January to December the monthly average moved −5.88%.
Silver price by month, 1994
| Month | Average per oz | Change from prior month |
|---|---|---|
| January | $5.10 | +2.00% |
| February | $5.20 | +1.96% |
| March | $5.40 | +3.85% |
| April | $5.40 | 0.00% |
| May | $5.40 | 0.00% |
| June | $5.40 | 0.00% |
| July | $5.30 | −1.85% |
| August | $5.20 | −1.89% |
| September (high) | $5.50 | +5.77% |
| October | $5.50 | 0.00% |
| November | $5.20 | −5.45% |
| December (low) | $4.80 | −7.69% |
Each figure is the average of the daily prices in that month, so the high and low are the highest and lowest monthly averages, not the highest and lowest price on a single day.
1994 price in 2025 dollars
A $5.28 average in 1994 equals about $11.48 in 2025 dollars, using the consumer price index (CPI-U). For comparison, the silver price today is shown on the live silver price page.
Inflation data: U.S. Bureau of Labor Statistics, CPI-U all items, U.S. city average (series CUUR0000SA0), annual average, from the U.S. Bureau of Labor Statistics. The adjustment reflects general consumer prices only.
Silver price in other years
Quick answers
What was the price of silver in 1994?
The monthly average silver price in 1994 was $5.28 per troy ounce (the mean of the 12 monthly averages). The highest month was September at $5.50. The lowest was December at $4.80.
What was the silver price per gram in 1994?
$0.17 per gram on average in 1994, which is the ounce price divided by 31.1035.
What is the 1994 silver price in today's dollars?
Using the U.S. consumer price index (CPI-U), an average 1994 price of $5.28 equals about $11.48 in 2025 dollars. This only adjusts for general consumer prices. It says nothing about what silver was worth to a buyer at the time.
Where does this data come from?
Monthly averages are from the World Bank Commodity Price Data (the Pink Sheet), published under CC BY 4.0. Prices are monthly averages, not daily highs and lows, and the World Bank publishes them rounded.
Source: The World Bank, Commodity Price Data (The Pink Sheet), October 2026 release, CC BY 4.0. worldbank.org. Historical prices are for information, not a quote.