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Silver
Buying silver in the UK: the 2026 guide
Silver is both a precious metal and an industrial raw material. That mix of investment and industrial demand is why its price moves more sharply than gold’s, and why more UK buyers are adding it alongside gold.
680.5m ozIndustrial silver demand in 2024, an all-time high
148.9m ozGlobal supply shortfall in 2024, the fourth deficit in a row
~58%Share of annual silver demand that comes from industry
0% CGTOn gains from UK legal-tender coins such as the Silver Britannia
Sources: The Silver Institute, World Silver Survey 2025; HMRC rules on UK legal-tender coins.
Silver price today in GBP
The live price of silver per troy ounce in pounds. Use the buttons above the chart to switch between intraday and long-term views.
Why silver demand keeps rising
Solar power
Every photovoltaic cell uses silver paste to carry electricity. Solar is now one of the largest single sources of silver demand. Manufacturers are using less silver per panel, but installations are growing faster than that saving.
Electronics and electric vehicles
Silver is the best electrical conductor of any metal. It is used in phones, data centres, 5G networks and car electronics, and electric vehicles use noticeably more of it than petrol cars.
A market in deficit
Mines and recycling have produced less silver than the world uses for four years running. The gap has been filled from stocks held in vaults, and those stocks are not unlimited.
Supply is slow to respond
Most silver is mined as a by-product of copper, lead and zinc. A higher silver price does not quickly lead to more silver being mined.
The gold-to-silver ratio
The ratio shows how many ounces of silver it takes to buy one ounce of gold. Many buyers watch it to judge whether silver looks cheap or expensive compared with gold. When the ratio is high by historical standards, silver is relatively cheap. It is a guide, not a forecast.
You can follow gold and silver prices together on our live charts page.
Tax: what UK buyers need to know
Gold and silver are taxed differently in the UK. Here is how they compare.
| Investment gold | Silver | |
|---|---|---|
| VAT when you buy | None on investment-grade gold coins and bars | 20% VAT on new silver coins and bars. All the silver we sell is sold under the VAT margin scheme, so VAT applies only to our margin, not the full price. How VAT on silver works |
| Capital Gains Tax when you sell | None on UK legal-tender coins such as Sovereigns and Britannias | None on UK legal-tender coins such as Silver Britannias. Gains on bars and non-UK coins may be taxable. |
| Cost to start | Higher price per ounce | Much lower price per ounce, so it is easier to buy small amounts |
Tax treatment depends on your circumstances and can change. Speak to a tax adviser if you are unsure.
Coins or bars?
Silver coins
Coins such as the Silver Britannia are widely recognised and easy to sell. As UK legal tender, Britannias are free from Capital Gains Tax.
Browse silver coinsSilver bars
Bars usually cost less per ounce above the silver price, which suits buyers who want the most metal for their money. Gains on bars may be liable for Capital Gains Tax.
Browse silver barsReady to buy silver?
Browse our current range of silver coins and bars, delivered across the UK. Have something to sell? We buy silver too.
This page is general information, not financial advice. The value of silver can go down as well as up, and past performance is not a guide to future returns. Charts provided by TradingView.