Track your silver stack by the ounce
Short answer: Record the weight, purity, price and date of every silver purchase, then use average cost per ounce against the spot price to see your real position.
Record each purchase
Silver is bought in many small lots, so records matter. For each purchase note the product, fine weight, quantity, total price and date.
- Fine silver weight, not just coin count
- Total price including shipping
- Product type: coin, round or bar
- Where it is stored
Watch your average cost
Add up what you paid and divide by the total ounces. Premiums on silver are often a larger share of the price than on gold, so your average cost can sit well above spot.
Compare products by premium
Coins, rounds and bars carry different premiums. Comparing them as a percentage over melt value shows which products give you more metal for your money.
Plan for space
Silver takes more room and weight per dollar than gold. Plan storage and note how many tubes or boxes you hold.
Questions
Should I track silver in grams or ounces?+
Either works if you stay consistent. BullionKeeper shows both, and a troy ounce is 31.1035 grams.
What about junk silver?+
Record it by the face value and the silver content per coin, so the total fine weight is right.