Price of Silver in 2002

Silver prices in 2002 remained strong, despite the economic downturn that resulted from decreasing stock prices, recovery after the September 11 attacks of 2001, and the bankruptcy of major companies like Enron and Exodus Communications.

To view the price of silver in 2002 and the spot price changes throughout the year, check out our charts below.

Silver Prices 2002 Chart

What Impacted Silver Prices in 2002?

In 2002, the world was recovering from a hectic year that saw many companies go under or struggle (even Amazon, eBay and Yahoo! decreased in value). Of course, the September 11 attacks on the USA greatly impacted the stock market and confidence in the economy in general.

Despite a worldwide economic recession, the silver price in 2002 was resilient, and the average price was $4.60 per ounce, representing a 5% rise compared to 2001.

Silver prices decreased in the first month of the year, with the annual minimum reached on January 31 at $4.22. The price of silver increased until early June, reaching a yearly high of $5.13 on June 4.

It was dropping from July through October but rebounded in the last quarter. Overall, silver gained $0.22 (4.88%) in 2002, ending the year on a final value of $4.81.

Daily Silver Prices (Chart)

To find the daily prices for Silver in this year, use the date filters in the chart above.

The information provided here is for educational purposes only and should not be used for speculation and investment purposes. CanAm does not guarantee that the prices shown here are correct, up-to-date, or complete, and we are not responsible for inaccuracies or omissions in this price data.

Is Silver a Good Long-Term Investment?

The global financial system is open to a lot of risks at the moment, including bank failures, too much public and private debt, huge budget and trade deficits, technological risks, speculative financial instruments, trade wars, and weak regulatory frameworks. All of this leaves room for uncertainty and insecurity.

Positively, silver is in high demand in many industries, including the technology and medical fields, because it is easy to shape, doesn’t rust, conducts heat and electricity well, and kills germs. As the world’s demand for cell phones, flat-screen TVs, and other electronics keeps increasing, silver will likely become more valuable in the coming years.

As such, investing in silver could give you peace of mind and a feeling of security into the future.

Buy Silver Online with CanAm

Whether you are a first-time buyer or an experienced investor, investing in precious metals is a great choice, and silver is one of the most popular options. If you’re unsure whether bars, coins or rounds are your best option, CanAm team can assist you in making the best choice for your future.

Start shopping if you’re ready to add pure silver bars or silver bullion to your portfolio. Alternatively, please contact our team today if you have any questions regarding your investment.