Silver was discovered in 5,000BC and has been overshadowed by Gold since its’ discovery. While there are dedicated miners to silver, most is produced as a byproduct of gold, copper, lead, and zinc mining. And it’s not uncommon for many mines to use the byproduct to pay for operating costs. Silver is used significantly in heavy industrial applications and doesn’t get much love compared to other metals.
Here are some interesting facts you should know about silver:
- The chemical element for Silver is AG
- Silver has a melting point of 1,763°F (961.78°C) and a boiling point of 3,924°F (2,162°C)
- In 1913, Silver traded for $2.64/oz. In January of 1980, adjusted for inflation, silver traded at $114.27/oz. And in April 2011, it traded for $54.54/oz. Today, September 19, 2018, it is trading for $14.24. Per the US Debt clock, silver should be trading at $599/oz!
- According to silver expert Ted Butler, JP Morgan owns 700 Million ounces of physical silver!
- There is less silver above ground than gold.
- Silver is one of the most reflective metals in the world.
- Mexico is the largest producer of silver in the world.
- Silver has natural antibacterial properties and the saying, “born with a silver spoon” came from wealthy families who would feed their young children with silver spoons for the germ-killing properties.
- Unlike gold, silver is typically not recycled. Much of the mined resource used in TVs, electronics, etc., is buried in landfills.
- Silver is slightly harder than gold.
It amazes me how little love silver gets! This incredible metal is so vital to our lives and yet receives very little respect. Silver has an interesting future; the high demand due to our technology consumption and the low physical inventory makes it incredibly important to our lives. I predict that this underdog will have its’ day and command the respect it deserves.
Are you looking to take the next step in your mining career or to hire your next crew member? Contact me today and let’s have a conversation about how I can help!