Silver · The value case
Is silver undervalued? The investment case for silver now
The gold-silver ratio, the number of ounces of silver it takes to buy one ounce of gold, has at times stretched well above its long-run average. In some past cycles, silver has outperformed gold as the ratio narrowed, though there is no guarantee that will happen again, or when.
Historical average ratio
~60:1
Ratio today
Moves daily
Both are finite
Physical metals
Start from
£100
Sell any time
No lock-in
Silver investment calculator
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Your allocation of the bar
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Illustrative value
After 3 years
£808+£58
For illustration only. Figures are based on the annual growth rate you select and are not a forecast or a guarantee of future performance.
Capital at risk · Not financial advice
Understanding the gold-silver ratio
What the gold-silver ratio has done in past cycles
The gold-silver ratio measures how many ounces of silver it takes to purchase one ounce of gold. Across history, from Roman coinage through the Bretton Woods era to modern commodity markets, the ratio has averaged around 60:1.
It has traded well above that average for long periods, and rose above 120:1 during the COVID-19 market shock in 2020. In some past cycles silver has outperformed gold as the ratio fell back, though there is no guarantee it will happen again, or when.
Both are finite
Gold and silver are mined from the same finite Earth. Neither can be printed or manufactured at will.
Silver is more volatile
Silver's smaller market makes it more reactive to shifts in sentiment. Prices can move sharply in either direction.
Money and industrial metal
Silver has a long monetary history, and in many languages the word for silver also means money. It also has growing industrial uses.
Lower barrier to entry
With silver trading at a fraction of gold's price, you can build a meaningful holding for significantly less capital.
Common questions
Frequently asked questions
What is the gold-silver ratio?
The ratio tells you how many ounces of silver are needed to buy one ounce of gold. A ratio of 80:1 means one ounce of gold buys 80 ounces of silver. Historically, the ratio has averaged around 60:1.
Does the ratio always revert?
Historical evidence suggests extreme ratios tend to normalise over time, but there is no guarantee of timing or magnitude. This is not financial advice, and past patterns do not guarantee future returns.
Why physical silver rather than an ETF?
A physical holding in an audited vault is direct fractional ownership of a real bar, rather than a unit in a fund. ETFs are financial instruments that depend on the fund structure, management, and legal integrity remaining intact.
How does the fractional model work?
Your investment buys a percentage of a certified 999 fine 1kg silver bar. That percentage is calculated at the live spot price at the time of your investment and confirmed in writing.
What is the minimum investment?
You can begin from £100. Silver's lower price per ounce makes fractional ownership accessible at a much lower entry point than gold.
How do I sell?
Contact us at any time. We will provide a buy-back quote at the current market rate and settle the funds to your bank account promptly. There are no lock-in periods.
Speak to our team
Discuss the case for silver with our team.
Speak with our team. We will walk you through the silver market, explain exactly how our fractional ownership works, and help you make a decision that's right for your situation.