How silver is priced in Peru
Peru is the world's second-largest silver producer, and its silverwork is sold per gram, typically in plata 950 or 925. The figures here are international spot silver converted at today's USD/PEN rate: the metal value before IGV, workmanship and the seller's margin.
The world's number two silver producer
According to the Silver Institute's World Silver Survey 2026, Peruvian mines produced 130.6 million ounces in 2025, up 7% — second only to Mexico and ahead of China — helped by higher grades at the Antamina mine. Production is concentrated in the Andean highlands. Mining output is exported, and local prices follow the international silver price converted at the sol rate.
IGV on silver
Peru's IGV is 18% (16% IGV plus 2% municipal tax). The exemption in Appendix I of the IGV law covers unwrought gold, not silver, so silver jewellery and silverware carry the full 18%. Ask a dealer whether IGV is included in the price of bars, and ask for a boleta or factura showing weight and purity.
Plata 950 and Peruvian silverwork
Peruvian silver is often made in 950 (95% silver), a little purer than sterling 925, and is known for filigree work. Souvenir pieces sold as "plata" may be plated or of lower fineness ("alpaca" is a nickel alloy with no silver), so check the stamp, weigh the piece and use the calculator above with the matching purity.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.