As of this writing, Silver is around $17.50 an ounce. That is roughly 34% of its all time high of $50. But, if you look at the Silver price, relative to US currency (the amount of actual US Dollars) in existence, then it is at the lowest level it has ever been.
The US monetary base basically reflects the total amount of US currency issued. Originally, this was backed by Gold available at the Treasury or Federal Reserve. This is not the case anymore. Therefore, the amount of Dollars have grown exponentially over the years.
The lower the price of Silver is (relative to the monetary base), the more the currency is debased. The Dollar is now at its most debased in over 100 years , relative to Silver (and Gold). With all the money printing the Federal Reserve has done over the years, the market will eventually seek an equilibrium, which means that Silver will spike in price, as it did in the late 1970’s.
So, in terms of US Dollars in existence, Silver is the bargain of the century. And, there are signs that point to the fact that Silver is about to correct that situation, by spiking much higher. Unfortunately, this will come with a lot of financial pain, since it will come with a massive debt collapse.