Is Silver expensive? That depends on your point of view and how much Time and Money you are willing to pay for one ounce of the White metal.
In 1866 the price of one ounce of Bar-Silver was 60 pence. The next 30 years the price decreased 50 % and at the end of the century it was traded for 30 pence per ounce.
Today, 1st Mars 2018, the London Silver Fix has decided that you will have to pay GPB 11,88 (US$ 16,31) for one ounce of Bar-Silver.
It is difficult to compare the historical prices of 60 pence an ounce in 1866 and 11,88 pounds an ounce in 2018. Quite a few elements of reality have changed over the years, but if I pick out one single variable: How long did an average adult male have to work to buy one ounce in 1866 versus 2018? I can, thereby, draw the conclusion that silver has become cheaper relative to the numbers of hours an adult male had to work. I quote: