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What Does Silver “Spot” Price Mean? You can think of it as the price of silver on the spot, right now. The spot price refers to the cost of one ounce (oz) of silver traded today. What silver’s unique ...

To check the quality of silver, you can run a magnet over the silver coin or jewelry. If the silver sticks to the magnet, then the quality is not good. Keep in mind that Sterling silver alloy is the ...