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Silver Price in 1974

The silver price rose 37.4% in 1974, from $3.26 at the end of 1973 to $4.47. Its highest close was $6.76 on Feb 26 — a record that stood until February 5, 1979, and its lowest $3.27 on Jan 7. The biggest one-day fall was −12.3% on Apr 8 and the biggest rise +13.4% on Feb 26. Adjusted for inflation, it gained 22.3%.

Change in 1974
+37.4%
$3.26 → $4.47
High
$6.76
Feb 26
Low
$3.27
Jan 7
After inflation
+22.3%
US CPI
Up days
132 of 254
longest run 8 up, 5 down
Record highs
22
closing records

Silver Price, daily closes 1974

Numbers mark the events below
$4$5$6previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Jan 2: Silver sets the first of 22 record closing highs this year, at $3.28.2Jan 28: Silver closes above $4 for the first time ($4.02).3Feb 11: Silver closes above $5 for the first time ($5.15).4Feb 26: Last record close of the year: $6.76. Silver closes above $6 for the first time ($6.76). Biggest one-day rise of the year: +13.4%.5Mar 5: Enters a bear market: 20% below its peak of $6.76 (February 26, 1974).6Apr 8: Biggest one-day fall of the year: −12.3%.7Apr 11: Bear market low: $4.34, 35.8% below the peak.8May 29: Enters a bear market: 20% below its peak of $6.02 (May 14, 1974).9Jun 26: German regulators force Bankhaus Herstatt into liquidation, disrupting FX settlement.10Jul 12: Bear market low: $3.79, 37.1% below the peak.11Aug 9: Richard Nixon resigns as US president.12Aug 14: President Ford signs Public Law 93-373, legalizing private gold ownership from December 31, 1974.13Sep 4: Enters a bear market: 20% below its peak of $5.03 (July 30, 1974).14Sep 17: Bear market low: $3.83, 24.0% below the peak.15Oct 25: Back above its pre-bear-market peak of $5.03 (July 30, 1974).16Dec 31: Americans may legally own gold again; COMEX launches gold futures.

Key Events in 1974

What happened, and how the Silver moved — on the day (or the next trading day) and about a month later.

  1. 1
    Wednesday, January 2 From the data
    Silver sets the first of 22 record closing highs this year, at $3.28.
  2. 2
    Monday, January 28 From the data
    Silver closes above $4 for the first time ($4.02).
  3. 3
    Monday, February 11 From the data
    Silver closes above $5 for the first time ($5.15).
  4. 4
    Tuesday, February 26 From the data
    Last record close of the year: $6.76. Silver closes above $6 for the first time ($6.76). Biggest one-day rise of the year: +13.4%.
  5. 5
    Tuesday, March 5 From the data
    Enters a bear market: 20% below its peak of $6.76 (February 26, 1974).
  6. 6
    Monday, April 8 From the data
    Biggest one-day fall of the year: −12.3%.
  7. 7
    Thursday, April 11 From the data
    Bear market low: $4.34, 35.8% below the peak.
  8. 8
    Wednesday, May 29 From the data
    Enters a bear market: 20% below its peak of $6.02 (May 14, 1974).
  9. 9
    Wednesday, June 26
    German regulators force Bankhaus Herstatt into liquidation, disrupting FX settlement. Source
    Silver: +1.2% that day · −1.3% a month later
  10. 10
    Friday, July 12 From the data
    Bear market low: $3.79, 37.1% below the peak.
  11. 11
    Friday, August 9
    Richard Nixon resigns as US president. Source
    Silver: −2.0% that day · −10.8% a month later
  12. 12
    Wednesday, August 14
    President Ford signs Public Law 93-373, legalizing private gold ownership from December 31, 1974. Source
    Silver: +5.3% that day · −5.9% a month later
  13. 13
    Wednesday, September 4 From the data
    Enters a bear market: 20% below its peak of $5.03 (July 30, 1974).
  14. 14
    Tuesday, September 17 From the data
    Bear market low: $3.83, 24.0% below the peak.
  15. 15
    Friday, October 25 From the data
    Back above its pre-bear-market peak of $5.03 (July 30, 1974).
  16. 16
    Tuesday, December 31
    Americans may legally own gold again; COMEX launches gold futures. Source
    Silver: −5.9% that day · −11.1% a month later

Biggest days of 1974

Best daysWorst days
Feb 26+13.4%Apr 8−12.3%
May 30+10.1%Feb 28−12.0%
Feb 21+8.9%May 23−8.2%
Mar 19+8.8%Apr 11−8.1%
Feb 11+8.5%Jul 2−7.8%

Volatility: 62.7% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$3.87+18.8%$4.02$3.27
Feb$5.69+47.0%$6.76$4.04
Mar$5.35−5.9%$5.73$5.01
Apr$5.62+5.0%$5.62$4.34
May$4.92−12.4%$6.02$4.62
Jun$4.61−6.2%$5.20$4.48
Jul$4.79+3.8%$5.03$3.79
Aug$4.12−14.1%$4.95$4.12
Sep$4.25+3.1%$4.25$3.83
Oct$4.86+14.5%$5.15$4.43
Nov$4.46−8.3%$5.06$4.21
Dec$4.47+0.4%$4.78$4.17

Other Markets in 1974

Change over the calendar year.

MarketChangeYear-end
Silver Price+37.4%$4.47
Dow Jones Industrial Average in 1974−27.6%616.24
S&P 500 in 1974−29.7%68.56
Nasdaq Composite in 1974−35.1%59.82
Gold in 1974+66.1%$186.50
US 10-year Treasury yield in 1974+0.50 pp7.40%
1970197119721973197419751976197719781979

Silver Price in 1974: FAQ

How much did the silver price rise in 1974?

The silver price rose 37.4% in 1974, from $3.26 at the end of 1973 to $4.47. Its highest close was $6.76 on Feb 26 — a record that stood until February 5, 1979, and its lowest $3.27 on Jan 7. The biggest one-day fall was −12.3% on Apr 8 and the biggest rise +13.4% on Feb 26. Adjusted for inflation, it gained 22.3%.

What were the highest and lowest closes of the silver price in 1974?

Highest: $6.76 on February 26, 1974. Lowest: $3.27 on January 7, 1974. It closed higher on 132 of 254 trading days.

What happened to the silver price on December 31, 1974?

Americans may legally own gold again; COMEX launches gold futures. The silver price fell 5.9% that day, and was −11.1% a month later.

Did the silver price reach a record high in 1974?

Yes — 22 record closing highs, the last at $6.76 on February 26, 1974. (Records counted from 1968, when the free market price began.)

Data: London silver fix from 1968 to Jan 2018 (gaps filled with Perth Mint spot), COMEX silver futures closes after that. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.

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APA 7
Corgano. (2026, October 31). Silver price in 1974. Corgano Gold Price. Retrieved October 31, 2026, from https://goldprice.corgano.com/market-history/silver/1974
MLA 9
“Silver Price in 1974.” Corgano Gold Price, goldprice.corgano.com/market-history/silver/1974. Accessed 31 Oct. 2026.
Chicago
Corgano. “Silver Price in 1974.” Corgano Gold Price. Accessed October 31, 2026. https://goldprice.corgano.com/market-history/silver/1974.
BibTeX
@misc{corgano2026silverpricein1974, author = {{Corgano}}, title = {Silver Price in 1974}, howpublished = {\url{https://goldprice.corgano.com/market-history/silver/1974}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}
Link
Silver Price in 1974 — Corgano Gold Price: https://goldprice.corgano.com/market-history/silver/1974