Where Is Silver Cheapest Today?

Silver costs the same $54.19 an ounce ($1,742 a kilo) everywhere before tax, but unlike gold, investment silver is taxed in much of the world. 16 of the 39 countries here charge no tax on silver bars, including United States, Canada, Australia, Singapore, UAE, Hong Kong, Saudi Arabia and 9 more. In Europe silver bars pay full VAT: UK +20%, Germany +19%, France +20%, Italy +22%, Netherlands +21% and 3 more. The most expensive are Ireland and Poland, at +23% over the world price (23% VAT).

Live price Oct 26, 2026, 15:34 UTC · Taxes and duties as of 26 October 2026 · Exchange rates from this site's daily feed

World price

$1,742/kg

$54.19 per ounce, fine silver

No tax on silver bars

16 countries

of 39 compared

Dearest for bars

+23%

Ireland, Poland: $2,143/kg

Europe (VAT on silver)

8 countries

charge 8.1–23% on silver bars

Silver price with taxes by country, today

Price for

Sort by

Country	Silver bartax + duty, local price	Over world price	Coinswhere different	Jewellery (metal value)tax + duty	Notes
EgyptEGP	E£3,017.23no tax	world price	same as bars	0%no tax on the silver
Hong KongHKD	$425.02no tax	world price	same as bars	0%no tax on the silver
KuwaitKWD	KWD 16.79no tax	world price	same as bars	0%no tax on the silver
MalaysiaMYR	RM 221.39no tax	world price	same as bars	0%no tax on the silver
QatarQAR	QAR 197.26no tax	world price	same as bars	0%no tax on the silver
TurkeyTRY	₺2,698.17no tax	world price	same as bars	0%no tax on the silver
VietnamVND	₫1,399,760no tax	world price	same as bars	0%no tax on the silver
OmanOMR	OMR 20.84no tax	world price	same as bars	+5%5% VAT
UAEAED	AED 199.02no tax	world price	same as bars	+5%5% VAT	Tourists can reclaim the tax on jewellery.
United StatesUSD	$54.19no tax	world price	same as bars	+7.5%7.53% state and local sales tax
SingaporeSGD	$69.29no tax	world price	same as bars	+9%9% GST	Tourists can reclaim the tax on jewellery.
AustraliaAUD	$77.11no tax	world price	same as bars	+10%10% GST	Tourists can reclaim the tax on jewellery.
BahrainBHD	BHD 20.38no tax	world price	same as bars	+10%10% VAT	Tourists can reclaim the tax on jewellery.
CanadaCAD	$75.94no tax	world price	same as bars	+13%13% GST/HST
Saudi ArabiaSAR	SAR 203.22no tax	world price	same as bars	+15%15% VAT	Tourists can reclaim the tax on jewellery.
BrazilBRL	R$270.69no tax	world price	same as bars	not comparable
BangladeshBDT	৳6,853.562.4% VAT	+2.4%	same as bars	+2.4%2.4% VAT	BAJUS sets silver prices by grade;
ThailandTHB	฿1,957.727% VAT	+7%	same as bars	+7%7% VAT	Tourists can reclaim the tax on jewellery.
NigeriaNGN	₦77,7317.5% VAT	+7.5%	same as bars	+7.5%7.5% VAT
SwitzerlandCHF	CHF 48.318.1% MWST/TVA	+8.1%	same as bars	+8.1%8.1% MWST/TVA	Tourists can reclaim the tax on jewellery.
JapanJPY	¥9,35110% consumption tax	+10%	same as bars	+10%10% consumption tax	Tourists can reclaim the tax on jewellery.
South KoreaKRW	₩78,92010% VAT	+10%	same as bars	+10%10% VAT	Tourists can reclaim the tax on jewellery.
IndonesiaIDR	Rp 1,088,18811% VAT	+11%	same as bars	+11%11% VAT	Tourists can reclaim the tax on jewellery.
PhilippinesPHP	₱3,865.1112% VAT	+12%	same as bars	+12%12% VAT
ChinaCNY	¥408.9113% VAT	+13%	same as bars	+18.9%18.9% VAT + consumption tax	Tourists can reclaim the tax on jewellery.
South AfricaZAR	R 1,034.4515% VAT	+15%	same as bars	+15%15% VAT	Tourists can reclaim the tax on jewellery.
KenyaKES	KES 8,164.2416% VAT	+16%	same as bars	+16%16% VAT
MexicoMXN	$1,176.9916% IVA	+16%	0%	+16%16% IVA	The silver Libertad is exempt from IVA: art.Tourists can reclaim the tax on jewellery.
PeruPEN	PEN 220.0818% IGV	+18%	same as bars	+18%18% IGV
IndiaINR	₹6,108.413% GST + 15% duty	+18.5%	same as bars	+18.5%3% GST + duty
ColombiaCOP	$204,46019% IVA	+19%	same as bars	+19%19% IVA	Tourists can reclaim the tax on jewellery.
GermanyEUR	€57.5319% umsatzsteuer	+19%	same as bars	+19%19% umsatzsteuer	Tourists can reclaim the tax on jewellery.
FranceEUR	€58.0220% TVA	+20%	same as bars	+20%20% TVA	Tourists can reclaim the tax on jewellery.
GhanaGHS	GH₵755.7820% VAT 15% + NHIL 2.5% + GETFund levy 2.5%	+20%	same as bars	+20%20% VAT 15% + NHIL 2.5% + GETFund levy 2.5%
UKGBP	£48.6320% VAT	+20%	same as bars	+20%20% VAT
NetherlandsEUR	€58.5021% BTW	+21%	same as bars	+21%21% BTW	Tourists can reclaim the tax on jewellery.
ItalyEUR	€58.9822% IVA	+22%	same as bars	+22%22% IVA	Tourists can reclaim the tax on jewellery.
IrelandEUR	€59.4723% VAT	+23%	same as bars	+23%23% VAT	Tourists can reclaim the tax on jewellery.
PolandPLN	zł 261.7223% VAT	+23%	same as bars	+23%23% VAT	Tourists can reclaim the tax on jewellery.

The silver content at today's world price, with import duty and VAT / GST / sales tax added; converted at today's exchange rate. Not included: dealer premiums (usually higher for silver than gold, especially on coins), making charges and local premiums. EU coins: since 1 January 2025 newly imported coins pay full VAT; second-hand coins sold under the margin scheme pay VAT only on the dealer's margin. Taxes as of 26 October 2026; check locally before you buy.

Dubai vs India today: 1 kg of silver

India (duty + GST)

₹1,96,390

15% import duty plus 3% GST

Dubai, silver bar

₹1,65,800

investment silver zero-rated · 15.6% less

Live rates: silver rate in the UAE · silver rate in India.

Why silver is taxed when gold isn't

Most countries exempt investment gold from VAT, but the exemption rarely covers silver. In the UK silver bars and new coins pay 20% VAT; across the EU they pay the full standard rate (19% in Germany, 20% in France, 21% in the Netherlands, 22% in Italy, 23% in Ireland and Poland); Switzerland charges 8.1%.

Elsewhere silver is often tax-free: Canada, Australia and Singapore exempt 99.9%-pure investment silver, the Gulf states zero-rate it or have no VAT, and most US states exempt bullion from sales tax. India adds import duty and 3% GST.

Ways buyers reduce the tax

Second-hand coins in the UK and EU can be sold under the margin scheme, with VAT only on the dealer's margin. Vault storage in a free port or bonded warehouse can defer VAT until you take delivery (Germany ended VAT-free long-term storage in its customs warehouses in April 2026). Check the rules before you buy, and remember that premiums on silver often matter as much as tax.

Live local prices: silver price in 45 countries · silver price today.

Where Is Silver Cheapest? FAQ

Where is silver cheapest in the world?

Before dealer premiums, silver bars cost the world price — $54.19 an ounce today — wherever there is no tax or duty on investment silver: United States, Canada, Australia, Singapore, UAE, Hong Kong, Saudi Arabia, Kuwait, Qatar, Malaysia, Bahrain, Oman and 4 more. Dealer premiums on silver are usually higher than on gold, so compare dealers as well as taxes.

Is there VAT on silver?

In the UK (20%), the EU (19–23% in the countries here) and Switzerland (8.1%), yes: investment silver is not exempt the way investment gold is. It is VAT- or GST-free in Canada, Australia, Singapore, UAE, Hong Kong, Saudi Arabia, Kuwait, Qatar, Malaysia, Bahrain and 5 more, and most US states exempt bullion from sales tax.

Why are silver coins cheaper than bars in some EU countries?

Second-hand silver coins can be sold under the margin scheme, so VAT is charged only on the dealer's margin rather than the full price. Since 1 January 2025 EU rules no longer allow the margin scheme for newly imported coins, so most new coins now pay full VAT. Some dealers also sell silver held in Swiss or other free-port storage without VAT, which becomes due if you take delivery.

Is silver cheaper in Dubai than in India?

Yes. A kilo of fine silver costs about ₹1,96,390 in India today with 15% import duty plus 3% GST, against about ₹1,65,800 for a bar in Dubai, where investment silver is zero-rated — 15.6% less. Bringing silver into India is limited: see the duty rules for passengers.

Does this include dealer premiums?

No. The table shows the value of the silver content with taxes and duty only. Dealers add a premium over spot that is usually higher for silver than for gold, and jewellers add making charges.

Sources for each country's taxes and duty are in the list below (tax authorities, customs notices and major accounting firms), reviewed October 2026. Rules change: check with the seller or customs before you buy. Not tax or investment advice.

Sources by country