UK Silver Prices & Comparison Directory
Quick Answer
Today's UK silver price is £1.72 per gram for 999 fine silver and £1.59 for 925 sterling silver. The LBMA sets the official London silver price once daily at noon. Unlike gold, silver attracts 20% VAT in the UK. Prices updated daily at 9am from LBMA market data.
Get live silver prices and discover trusted sources to verify current rates. Compare prices from LBMA, Royal Mint, major dealers, and independent comparison tools all in one place.
What is today's silver price in the UK?
Price as of 18 Feb 2026, 00:58 · Updated daily at 9am from LBMA market data
UK Silver Price by Purity
- •999 Fine Silver: £1.72 per gram
- •958 Britannia Silver: £1.65 per gram
- •925 Sterling Silver: £1.59 per gram
- •800 European Silver: £1.38 per gram
How UK Silver Prices Work
- •LBMA sets the official London silver fix once daily at noon
- •Prices quoted in USD, converted to GBP at market rate
- •Silver attracts 20% VAT in the UK (gold is VAT-exempt)
- •Industrial demand accounts for 50%+ of silver consumption
- •Scrap silver typically sells at 70-85% of spot price
Important: VAT on Silver in the UK
Unlike investment gold, which is VAT-exempt in the UK, silver bullion is subject to 20% VAT on purchases. This applies to silver bars, most silver coins, and silver rounds. The VAT adds a significant premium to the spot price when buying physical silver.
Silver bar example
1kg bar at £1,720 spot + £344 VAT = £2,064 total
Ways to reduce VAT impact
Silver ETFs, allocated accounts, and storage programmes outside the UK can avoid VAT
Where can I check silver prices in the UK?
London Gold Exchange silver prices are updated daily at 9am from LBMA market data. Here are other trusted sources where you can verify and compare UK silver prices:
LBMA Silver Price
The official London silver fixing price, set once daily at noon by CME Group
Best for: Spot price benchmarks
Check LBMA Prices →Kitco UK Silver
International silver prices converted to GBP with live charts and historical data
Best for: Real-time price charts
View Live Charts →The Royal Mint
UK's official mint — silver Britannias, bars, and collectible coins
Best for: Buying new silver products
View Royal Mint Silver →BullionByPost
UK's largest online bullion dealer with silver bars, coins, and storage options
Best for: Online silver purchases
See Current Rates →Atkinsons Bullion
Established Birmingham dealer with competitive silver prices and VAT-free storage
Best for: VAT-free silver storage
View Silver Prices →Gold.co.uk Silver
Compare silver prices from multiple UK dealers in one place
Best for: Dealer price comparison
Compare Silver Prices →BullionVault Silver
Professional trading platform with live buy/sell spreads and VAT-free storage in Zurich and Singapore
Best for: VAT-free silver investment
View Trading Prices →HMRC VAT on Silver
Official UK tax guidance on silver trading and the 20% VAT that applies to silver bullion
Best for: Understanding VAT rules
View HMRC Guidance →UK Hallmarking — Silver Marks
Verify silver purity with official UK hallmark standards. Look for the lion passant (sterling) or Britannia mark
Best for: Verifying silver authenticity
Check Hallmark Guide →Why We Share These Resources
We believe in transparency and helping you make informed decisions. While our calculator provides instant valuations based on live market data, comparing prices across multiple sources ensures you get the best deal when buying or selling silver in the UK.
How are UK silver prices determined?
Your complete guide to silver valuation, market factors, and purity standards
Silver prices are driven by both industrial demand and investment sentiment:
Industrial Demand (50%+)
Solar panels, electronics, EVs, and medical devices
Investment Demand
ETFs, physical bullion, and safe-haven buying
USD & Exchange Rates
Silver priced in USD; GBP/USD directly affects UK prices
Different prices for different purposes:
Market price for immediate delivery
What dealers pay for your silver
Includes dealer premium + 20% VAT
UK hallmark standards and value:
Pro tip: Look for the lion passant hallmark for sterling silver and the Britannia mark for 958 silver.
Quick Reference
VAT on Silver
20% VAT applies to silver bullion in the UK
Capital Gains
Silver Britannia coins are CGT-free as UK legal tender
Best Selling Time
When spot price is high & industrial demand is strong
What Factors Influence the Price of Silver in the UK?
Silver prices in the UK are influenced by five main factors: industrial demand (over 50% of consumption, led by solar panels and electronics), investment sentiment, the GBP/USD exchange rate, central bank monetary policy, and global mining supply. The LBMA sets the official London silver price once daily at noon in USD, which is then converted to GBP.
Industrial demand accounts for over 50% of silver consumption. Solar panel manufacturing alone used 140 million+ ounces in 2025, and demand continues to grow with the global energy transition. Electronics, electric vehicles, and medical devices also consume significant quantities.
Investment demand comes from ETFs, physical bullion purchases, and safe-haven buying during economic uncertainty. Unlike gold, silver's dual industrial-investment nature makes it more volatile.
GBP/USD exchange rate directly affects UK silver prices because the international spot price is denominated in US dollars. When sterling weakens against the dollar, UK silver prices rise even if the global dollar price stays flat.
Mining supply is approximately 830 million ounces annually. Silver is primarily mined as a byproduct of copper, lead, and zinc mining, which means supply does not respond quickly to higher silver prices.
How Do UK Silver Prices Compare to Global Rates?
UK silver prices closely track the international spot price set by the LBMA, but with two key differences. First, the global spot price is quoted in USD and converted to GBP at the current exchange rate, so sterling weakness increases UK prices. Second, UK physical silver carries 20% VAT, making retail prices significantly higher than the underlying spot rate.
UK Silver Price vs Global Spot Price
The LBMA London Silver Price is set once daily at noon by CME Group and is the global benchmark. It is quoted in USD per troy ounce and converted to GBP using the prevailing exchange rate.
UK retail silver prices include 20% VAT on physical products. This does not apply in many other countries, making UK silver relatively more expensive than in the EU, US, or Singapore for physical purchases.
Dealers add a margin of 5-25% above spot depending on the product type. Coins carry higher premiums than bars, and smaller items cost more per gram than larger ones.
What Premium Should I Expect on Silver Bars in the UK?
UK buyers should expect to pay a total premium of 25-45% above the silver spot price when buying physical silver. This breaks down as 20% VAT plus a 5-25% dealer premium depending on the product. Silver coins carry higher premiums than bars, and smaller items cost more per gram than larger ones. When selling silver, dealers typically pay 70-85% of the spot price.
| Silver Product | Typical Dealer Premium | + 20% VAT | Total Above Spot |
|---|---|---|---|
| 1kg Silver Bar | 5-10% | 20% | 25-30% |
| 100g Silver Bar | 8-15% | 20% | 28-35% |
| Silver Britannia Coin | 15-25% | 20% | 35-45% |
| Scrap/Pre-owned Silver | Dealers pay 70-85% of spot (no VAT on selling) | ||
Premiums vary by dealer and market conditions. Use our silver calculator to estimate what dealers will pay for your silver.
Which Silver Items Are Capital Gains Tax-Free in the UK?
Silver Britannia coins minted by the Royal Mint are exempt from Capital Gains Tax (CGT) in the UK because they are classified as legal tender. All other silver items — bars, foreign coins, jewellery, and silverware — are subject to CGT on any profit above the annual exempt amount (currently £3,000). This makes Britannias uniquely tax-efficient for UK silver investors.
CGT-Free Silver
- • Silver Britannia coins (UK legal tender)
- • Silver Maundy coins (UK legal tender)
- • Any UK silver coin with a face value in pounds sterling
Subject to CGT
- • Silver bars and rounds
- • Foreign silver coins (Maple Leafs, Eagles, etc.)
- • Silver jewellery and silverware
- • Silver ETFs and funds
Read our full Silver Britannia guide for more on CGT exemptions and buying strategies.
How does the silver price compare to gold?
The gold/silver ratio explained
- • The gold/silver ratio measures how many ounces of silver it takes to buy one ounce of gold
- • Historically the ratio averages around 60-80:1
- • A higher ratio can suggest silver is undervalued relative to gold
- • Some investors trade the ratio, buying silver when it's high and switching to gold when it narrows
Is silver a good investment in the UK?
- • Silver has both industrial and monetary demand drivers
- • Solar panel demand is growing silver consumption significantly
- • 20% VAT on physical silver is a disadvantage vs VAT-exempt gold
- • Silver is more volatile than gold — bigger potential gains and losses
FCA Disclaimer: This information is for educational purposes only and does not constitute financial advice. The value of investments can go down as well as up. Consider seeking independent financial advice before investing in precious metals.
2026 Silver Market Key Facts
- •Over 50% of silver demand comes from industrial uses
- •Solar panel manufacturing consumed 140M+ oz of silver in 2025
- •Gold/silver ratio currently between 70:1 and 90:1
- •Global silver mine production is approximately 830M oz annually
- •UK silver bullion carries 20% VAT, unlike investment gold
Summary: UK Silver Prices
Gold Price Alerts
Get notified when the gold price hits your target. Current price: £1.72/g
How do I get the best price for my silver?
Use our free calculator to get instant valuations based on current market prices, then connect with verified dealers near you for the best rates.
Frequently Asked Questions About Silver Prices
Where can I check silver prices in the UK?
You can check silver prices from the LBMA (official London fixing), Kitco UK, BullionByPost, The Royal Mint, and BullionVault. Our page shows live silver prices updated daily from LBMA market data.
Is VAT charged on silver in the UK?
Yes. Unlike gold, silver bullion is subject to 20% VAT in the UK. This applies to silver bars, most coins, and other silver products. Some investors use allocated storage programmes abroad or silver ETFs to avoid paying VAT.
What's the difference between 925 and 999 silver?
999 silver (fine silver) is 99.9% pure and used mainly for bullion bars and coins. 925 silver (sterling silver) is 92.5% pure with 7.5% copper added for durability, making it the standard for jewellery. Sterling silver is worth about 7.5% less per gram than fine silver.
How often do silver prices change?
Silver spot prices change constantly during trading hours on global commodity exchanges. The LBMA sets an official London silver price once daily at 12:00 noon. Our prices are updated daily from LBMA market data.
Is silver cheaper than gold?
Yes, significantly. The gold-to-silver ratio is typically between 70:1 and 90:1, meaning you need 70-90 ounces of silver to buy one ounce of gold. This makes silver more accessible for smaller investors, though storage costs per unit of value are higher.
Is silver a good investment in the UK?
Silver has both industrial and investment demand, which can drive price growth. However, UK investors should note the 20% VAT on physical silver, which gold does not attract. Silver ETFs and allocated accounts can avoid VAT. As with any investment, silver carries risk and past performance does not guarantee future returns.
What factors influence the price of silver in the UK?
Silver prices in the UK are driven by industrial demand (over 50% of consumption from solar, electronics, and EVs), investment sentiment, the GBP/USD exchange rate, central bank monetary policy, and global mining supply. The LBMA sets the London silver price once daily at noon.
How do UK silver prices compare to global rates?
UK silver prices track the international LBMA spot price but are converted from USD to GBP, so exchange rate movements affect UK prices. Physical silver in the UK also carries 20% VAT, making retail prices higher than in countries without silver VAT such as the US or Singapore.
What premium should I expect on silver bars in the UK?
UK buyers should expect a total premium of 25-45% above spot price on physical silver. This comprises 20% VAT plus a 5-25% dealer premium. 1kg bars have the lowest premiums (25-30% total), while coins like Silver Britannias carry higher premiums (35-45% total). When selling, dealers pay 70-85% of spot.
Which silver items are capital gains tax-free in the UK?
Silver Britannia coins are exempt from Capital Gains Tax (CGT) in the UK because they are classified as legal tender. All other silver — bars, foreign coins, jewellery, and silverware — is subject to CGT on profits above the annual exempt amount (currently £3,000).
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