After weeks of what felt like an endless uptick, the price of silver plunged dramatically this week, tumbling from its latest record-high of above $110 per ounce to about $88 per ounce, where it sits currently (as of February 3, 2026). For those who watched silver climb to unprecedented heights in January, the correction feels dramatic. But here’s what makes the current moment particularly interesting: Despite the sharp pullback, silver is up more than 190% compared to the $30-per-ounce price at the start of 2025. That year-over-year performance tells somewhat of a different story than the recent volatility might suggest. While silver prices are experiencing a downturn right now, the precious metal still stands to benefit from today’s unusual economic climate. As more investors shift toward physical assets amid concerns about rising government debt, geopolitical uncertainties and questions about central bank independence, the price of silver goes up. Add in a structural market deficit, and silver’s underlying fundamentals haven’t disappeared just because prices corrected.So what does this mean for buyers? Well, it means an entry point below $90 per ounce after weeks of watching prices climb to new highs. But if you’re going to buy silver this February, it makes sense to do so at as low a price as possible. Below, we’ll detail how to do that.Start adding silver and gold to your investment portfolio now.How to buy silver at a low price this FebruaryTiming matters less than strategy when it comes to buying silver affordably. While you can’t control market swings, you can control how you approach your purchase. Here are several ways to maximize value when buying silver this month:Take advantage of the dips, both current and otherwise. With silver trading around $88 per ounce after dropping from over $110, you’re looking at prices that are significantly lower than last week. These types of market corrections don’t guarantee that there will be further declines, but buying during pullbacks rather than during surge periods typically means lower entry costs. Given silver’s substantial gains over the past year, today’s prices reflect elevated levels compared to historical norms, but they’re still significantly more accessible than last month’s record highs. So, it could make sense to buy in now and keep an eye out for future price volatility that offers other opportunities to invest at a lower cost.Learn more about your precious metal investing options here.Buy silver in bulk to reduce premiums. Precious metal dealers charge premiums above the spot price to cover their costs and profit margins. These premiums can add a significant amount to the cost of your silver investment, but the cost also typically decreases, sometimes substantially, when you purchase larger quantities. So, instead of buying individual silver coins or small bars, you may want to consider larger purchases, whether that’s 10-ounce silver bars, 100-ounce silver bars or bulk silver coin orders. Because the premium you pay per ounce typically drops as quantity increases, by buying in bulk, you’re effectively lowering your cost basis.Compare online dealers for competitive pricing. Online precious metals dealers often offer lower premiums compared to brick-and-mortar dealers and local coin shops because they operate with lower overhead costs. For example, major dealers like APMEX, JM Bullion, SD Bullion and others will often compete with each other aggressively on pricing, so check multiple sites before purchasing, as premiums can vary by several dollars per ounce depending on the dealer and product. Don’t forget to factor in shipping costs and insurance when comparing total prices, though, as that will have an impact on the price of your investment.Consider larger silver bars over coins. Silver coins typically carry higher premiums than bars due to minting costs and collectibility factors. If you’re focused purely on silver’s investment value rather than numismatic appeal, silver bars offer more metal for your money. For example, a 10-ounce silver bar might cost $15 to $20 less in premiums compared to buying 10 1-ounce silver coins, depending on the dealer and current market conditions.Monitor the bid-ask spread. The gap between what dealers pay for silver (bid price) and what they charge customers (ask price) directly affects your costs. Narrower spreads indicate higher demand and more competitive pricing. When spreads widen during volatile periods, you’re paying more to buy. Watching this spread can help you time your silver purchases during periods of tighter pricing.Watch for dealer promotions. Many online precious metal dealers run periodic sales, offer discounts on specific products or provide incentives like free shipping above certain order amounts. Signing up for dealer email lists or checking their promotions pages before purchasing can save meaningful amounts of money, especially on larger silver orders.The bottom lineSilver’s dip from record highs has created a window for buyers who were priced out during the January surge. At around $88 per ounce, prices remain elevated by historical standards but significantly more accessible than they were just days ago. And, whether you’re adding to an existing position or entering the silver market for the first time, focusing on strategies that reduce premiums, like buying in bulk, comparing dealers and choosing bars over coins, can help you maximize the amount of metal you acquire for your investment dollars.Â
