Since the earliest human recorded history, we have been attracted to the lure of precious metals like silver.
While it has always had value for its beautiful and unique shine, silver also has been highly regarded as a measure and preserver of wealth.
There are many truths about silver that don’t change. Here are some of those facts for your enjoyment.
- For years the ratio of gold to silver was approximately 16 to 1, meaning it took 16 ounces of silver to purchase 1 ounce of gold. Today that number is closer to 70 to 1. Some experts predict that the gold to silver ratio will return to its previous average meaning a great upside potential for silver.
- The largest purchase in U.S. history, the Louisiana Purchase, was acquired using silver as money.
- Silver has the best electrical conductivity of any element and highest thermal conductivity of any metal.
- Aside from its monetary and investment uses, silver is a critical part of electrical, computer, mobile phones and medical devices as well as the solar industry.
- The words for ‘silver’ and ‘money’ are the same in fourteen languages.
- Silver has been coined to use as money since 700 BC.
- Total silver production from pre-history till now is estimated by the U.S. Geological Survey (USGS) to have been about 1,411,475 metric tons.
- Silver is not purposely mined: 80% of new silver production is a by-product of gold or copper mining. This is due to silver’s recent low value compared to other metals.