Silver Price Macedonia
Conversion : 1 troy ounce = 31.1034768 grams
Macedonian Denars 24 Hour Spot Silver Price
Macedonian Denars Silver Price History Charts
Silver Price Macedonia
The country of Macedonia is officially known as the Republic of Macedonia. The nation is a successor state of the former Yugoslavia, and it became independent in 1991. The country is located in the Balkan Peninsula.The country’s official language is Macedonian, although several other languages are spoken in the region including Romani, Turkish, Albanian and Serbian. The country’s government is a parliamentary republic and the nation shares borders with Kosovo, Bulgaria, Serbia, Albania and Greece.
The official currency of the nation is the Macedonian Denar. The denar was introduced in 1992 to replace the Yugoslav Denar, and the currency had a second edition released the following year. The denar gets its name from the ancient Roman monetary unit, the denarius.
The nation’s currency is issued and controlled by its central bank, the National Bank of the Republic of Macedonia. Not only does the central bank regulate and maintain the country’s currency, but it is also tasked with numerous other responsibilities such as regulating credit, overseeing the banking system and conducting monetary policy.
If you are looking to buy silver in Macedonia or simply want to see current silver prices, they will likely be quoted in the local currency. Quotes may also be available, however, in other key global currencies such as U.S. Dollars, Great British Pounds, euros or Japanese Yen. Silver is typically quoted by the ounce, gram or kilo.
Like gold, silver has been considered a reliable store of wealth and value for thousands of years. Even during the ancient days of the Macedonian Kingdom, silver coins were used for exchange and represented value. The Alexander The Great Silver Tetradrachm coin is a prime example of such ancient coinage. The coin’s obverse features the head of young Herakles with a dotted border. The reverse features a depiction of Zeus, holding scepter and eagle.
Coins like this can be highly collectible, and availability may be very limited. Due to their age, relative scarcity, condition and other factors, such coins can carry significantly higher premiums when compared to standard bullion coins or bars. Although such coins are valuable and may became even more valuable, they may not be the best choice for those simply looking to acquire as much silver as possible.
Standard bullion coins and bars may provide a better overall value per-ounce. Bullion bars, in particular, may potentially provide the lowest overall premiums over spot. Cast bars are produced by pouring liquid metal into molds and then allowing the metal to cool. Because of the way they are made, cast bars may be the least expensive for refiners to produce, and those cost savings may equal lower premiums compared to minted bars. In addition, because of the fabrication process, no two cast bars will look exactly the same.
Bullion coins may carry higher premiums than bars, but may still provide a great value. Coins are considered good, legal tender but are bought for their metal content rather than their monetary value.