How silver is priced in Brazil
In Brazil silver is sold per gram as jewellery — mostly prata 925 and prata 950 — and per kilo or per bar as metal. The figures here are international spot silver converted at today's USD/BRL rate: the metal value before consumption taxes, workmanship and the seller's margin.
No financial-asset regime for silver
Brazil's special tax regime for precious metals applies to gold only: the Constitution and Law 7,766/1989 let gold traded as a financial asset pay just 1% IOF. Silver has no equivalent, so silver bars, jewellery and silverware are taxed as ordinary goods — ICMS and the other consumption taxes that the tax reform is replacing with CBS and IBS during the transition to 2033. Ask for a nota fiscal showing weight and purity.
Prata 925 and prata 950
Brazilian silver jewellery is usually stamped 925 (sterling, 92.5% silver) or 950 (95%). The higher 950 grade is softer and whiter. "Banhado a prata" means silver-plated, with negligible metal value. To estimate the silver in a piece, weigh it and use the calculator above with the matching purity.
Where the price comes from
Brazilian dealers price silver from the international price in dollars converted at the real–dollar rate, so a weaker real lifts local prices. Silver is more volatile than gold because more than half of world demand is industrial, from electronics to solar panels, and dealer premiums on small bars are a larger share of the price than for gold.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.