Sterling Silver Price Calculator – Nigeria
Here’s a comprehensive table with all you need to know about Sterling Silver prices in Nigeria:
| Sterling Silver (925) | Price in Nigerian Naira (NGN) |
|---|---|
| Per Gram | ₦1,558.95 1 |
| Per Ounce | ₦48,483 1 |
| Per Kilogram | ₦1,558,775 1 |
| Per Tola | ₦18,181 1 |
Additional Information
Purity: Sterling Silver is 92.5% pure silver, with the remaining 7.5% usually being copper1.Market Fluctuations: Silver prices can fluctuate based on various factors, including global economic conditions, industrial demand, and currency exchange rates3.Comparison to Other Purities:
- 999 (Fine Silver): ₦1,685 per gram
- 958 (Britannian Silver): ₦1,615 per gram
- 916 (22K Silver): ₦1,544 per gram
- 875 (21K Silver): ₦1,475 per gram
- 800 (Jewelry Silver): ₦1,348 per gram1
Currency Conversion: As of the current date, 1 USD is equivalent to approximately ₦1687.41 NGN2.
Price Updates: Silver prices in Nigeria are typically updated multiple times throughout the day, with the most recent updates usually occurring in the morning, Lagos time (GMT+01:00)24.
Market Considerations: While Nigeria has a significant economy, it’s not a major silver producer. The prices are influenced by global silver markets and local currency exchange rates3.
Investment Options: Silver can be purchased in various forms, including coins, rounds, and bullion bars, which may be of interest to investors looking to diversify their portfolios3.
Remember that precious metal prices are subject to frequent changes, so it’s advisable to check current rates when making investment decisions or purchases.