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Why Is Silver Cheaper Than Gold?

Posted on April 25th, 2017 by JoeG

As a Chicago gold buyer we are occasionally asked by our clients why silver is cheaper than gold? If you have purchased or sold fine jewelry before, you will know that gold is typically higher in value. And knowing anything about precious metals (gold, silver and platinum) – you might be aware that each of them are made up of different properties. Platinum has a very high melting point. Higher karat gold is soft and malleable. These precious metals have a range of differences that depend on the world spot market price when it comes to their value.


A Closer Look At Precious Metals


All precious metals have some innate value that is considerable compared to other commodities. Gold and silver are among the most popular of the precious metals because they function very well in a number of ways, in decorative, industrial & technology purposes. Each precious metal is rare.


Rarity Of Precious Metals


Furthermore, one of the most crucial elements that go into making silver cheaper than gold is the rarity of the metal itself. Put simply – gold rarer than silver. The imbalance in supply and demand between the two metals makes up most of the difference in their prices. Demand for gold is much higher causing the prices to be relatively higher. Also, the costs of mining and difficulty extracting these precious metals will play a large role in their rarity.


Want to learn more about the value of your precious metals? Head into Chicago Gold Gallery today!

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Customer Testimonial

Had a Great Experience

"I drove all the way from the south side just to sell my silver to Chicago Gold Gallery because of the knowledge and professionalism I received on the phone. They gave me top dollar for my silver and were so fast and friendly. I definitely recommend this business!"

Date: 10/27/2017 • 5 / 5 stars ★★★★★

Can't say enough about this place.

This is the most welcoming, non-pretentious place to do business! I was researching where to sell sterling silver I had and ended up choosing here based on the other great reviews. They walked me through the whole process and answered my questions. I got a great price for my items & will go there again.

Date: 09/17/2018 • 5 / 5 stars ★★★★★

Love this place!

Chrissy & Joe are all super friendly and easy to work with. I trust them and they will do whatever they can to help you including giving you advice on what you have or what you should look for. I won't ever go anywhere else and I've recommended it to several friends.

Date: 08/02/2015 • 5 / 5 stars ★★★★★

I would do business with them again

I had a large collection of silver coins sitting in my safe deposit box for 15+ years. Chrissy was so friendly and helpful she even gave me advice about coins I didn't know. She was more than happy to help me for over an hour in between taking care of other customers. They really did give me top dollar for my coins. Whether you are new or a pro with coins, I can highly recommend you take them here!

Date: 02/22/2020 • 5 / 5 stars ★★★★★

Don't Hesitate to call...

I find that Joe at Chicago Gold Gallery consistently offers and pays more for my coins than coin dealers in Chicagoland. He's very nice and easy to deal with. Don't hesitate to call him and preferably visit him.

Date: 12/04/2015 • 5 / 5 stars ★★★★★

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1236 W. Devon Avenue
Chicago, IL 60660

Phone: 773-338-7787 Email:

Hours: Mon-Sat: 9am-6pm

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