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A Brief History of Silver Bars

For thousands of years silver has held man’s fascination. Anciently, man found silver deposits abundant on the ground or just under the surface. Artifacts from these civilizations, include jewelry, religious relics, and food containers made from the durable, pliable metal. Merchants from Mesopotamia utilized it as money as early as 700 BC. For many it meets the criteria for a medium of exchange in that it is durable, divisible, convenient, has utilitarian value, and cannot be created by fiat or in other words by government decree.

What Makes Silver a Monetary Metal?

However, unlike its companion precious metal—gold—silver is most commonly used today as an industrial commodity or raw material. Industrial demand for silver has grown steadily for the past three decades due to silver’s many unique attributes, including its strength, malleability, and ductility…its exceptional electrical and thermal conductivity…its sensitivity to and high reflectance of light…and its ability to tolerate extreme ranges in temperature.

Silver’s Long Association With Money

In 1792, silver became the key element in the United States financial system when laws were passed that made the silver dollar the basis for the currency, and its fixed relationship to gold. Silver became the coin of the nation until 1965 when the use of silver in minting coins was terminated. The beginning of the 20th century saw a dynamic change in the use of silver for industrial raw material.

Silver’s Other Notable Qualities

Besides its uses in industry, there are a many products and medical treatments that use silver owing to its extraordinary ability to fight bacteria in the human body. Silver is used by doctors to ward off bacterial diseases for those suffering major burns. Special bandages and other medical products make use of its medicinal properties with a layer of material with silver to prohibit further infections. In our planet where we see a rise in attention we pay to the spread of diseases and future pandemics, it is reassuring to know that silver is being used more and more for its antibiotic ability.

As a Commodity, Silver is Rare and Becoming Rarer

In all the ages gone by it is thought that over 95% of all the silver mined has been lost to industrial consumption. That silver no more, totally unrecoverable. Back in the early 1900s, there existed, more or less, 12 billion ounces of silver on the earth. That amount has dropped to around 300 million ounces of processed silver.

Silver’s Bright Future in Uncertain Times

Many of the top economic authorities believe that silver is one of the earth’s most significant materials, with an exceptional future. With silver’s distinctive characteristics it is vital for worldwide industry.

Taking into account todays economic and geopolitical uncertainty, which can be witnessed by current headlines, one can see a bullish environment for silver. Silver has a historically been seen as a precious metal and a store of value, and the growing demand where increased medical and industrial uses eclipse supplies only gives additional weight to the idea that the current environment is positive for silver.

The world demand for silver in industrial, medical and acquisition now exceeds annual silver production, and has every year since 1990. Above ground reserves are low and are reported to be shrinking. For these reasons, many feel silver bullion represents an outstanding buying opportunity.

Countries where Silver Calls Home

Even though silver is somewhat scarce, in the arena of precious metals, it is the most abundant and least expensive. The nations that produce the largest amounts of silver are Mexico, Peru, the United States, Australia and Chile. Silver sources of silver consist of; silver that is mined directly, silver mined as a consequence of mining for gold, copper, lead and zinc, and silver pulled out of recycled items.

Different Configurations

Silver bullion that is pure .999 fine is procurable in a variety of forms: Numerous brands of .999 fine silver have been produced over the years, including bars from the Royal Canadian Mint, Johnson-Matthey and Engelhard. 10 ounce silver bars are produced one of two processes, by extrusion, machine milling or by a free pour method. All types are guaranteed to weigh 10 troy ounces. Larger 100 ounce silver bars are also suitable for stacking and storage in a safety deposit box or a safe at home.