All About Silver
Why Is the Market Going Crazy for Gold's Little Cousin?
Silver often takes a supporting role for Gold when it comes to precious metals, but Silver has its own special properties and deserves just as much attention.
Much like the other precious metals, Silver also has a long history. The first evidence of Silver mining dates all the way back to 3000 BC in Greece and Turkey.
The first big Silver finds in the USA was in Nevada in 1857 by two brothers, who sadly died before they could reap the benefits of their fantastic find. It is said that between 1859 and 1992, there was $305,779,612 of Silver pulled from that mine in Nevada.
There is no room for doubt that Silver is a beautiful precious metal with its shiny appearance. We can't help but love it. Let's look at some other uses of Silver in today's world.
The Many Uses of Silver In Our Modern-day World
Silver is one of the most useful precious metals found in the world, and it is so diverse in its applications that it can be found practically everywhere. Here are six uses of Silver in our modern world.
1. Electricity. Silver is an excellent conductor and is in most electrical devices. Its durability and resistance to corrosion, alongside its conductivity, make it perfect for electronic products like TVs, smartphones, and laptops.
2. Medicine. Silver is a long-time go-to for antibiotic use, and it does a wonderful job of helping heal wounds. In WW1, wounded soldiers would have their injuries wrapped in silver foil or have silver sutures to close wounds. In hospitals, it is common to see Silver being used to battle antibiotic superbugs with silver equipment, needles, bandages, ointments, and so much more. Silver is a staple in our modern medicine.
3. Jewellery. It is not hard to find a piece of silver jewellery. It is much more affordable than Gold, very durable, and still gives a shiny, pretty appeal for bracelets, necklaces, and earrings.
4. Tableware. Also referred to as silverware. Using silver utensils is a great way to add a touch of class to your table without breaking the bank. You can also find Silver serving utensils, bowls, and many more household items made from Silver.
5. Cars. Your car is extremely dependent on Silver, almost as much as fuel. Every electrical connection in your car is activated using a silver-coated contact, functions such as starting the engine, opening the power windows, adjusting your power seat, and opening and closing your power trunk.
6. Water purification. Silver is excellent to prevent algae and bacteria from building up in your water filters, keeping them clean so they can work more efficiently. Silver is a very powerful sanitizer and is sometimes added to the purification process of community water supplies, hospitals, spas, and pools.
Various grades of Silver
· Fine .999 Silver. This grade of Silver is the closest to its purest form you will get. The mark .999 is an indicator that it is 99.9% pure Silver, and the 0.1% is made up of trace elements of very little quantities. This grade of Silver is reasonably soft and will dent, change shape, and scratch quite easily. It is less common in jewellery other grades.
· Sterling .925 Silver. This grade of Silver is mixed with other metal alloys like copper and sometimes nickel. It consists of up to 92.5% Silver, and then the additional 7.5% is the metal alloy added to help increase the Silver's hardiness. This is the most commonly used Silver for jewellery and has that much sought-after shiny and bright appearance.
· Coin Silver. This was once a standard grade of Silver found in the USA but is now pretty rare to come across. It is .900 Silver, or 90% silver and then 10% copper alloy. It was once given its name because the Silver was used to make coins to use as currency. Now currency is made from affordable base metals, and coin Silver is considered an antique.
Should Silver be included in your portfolio?
Silver is an excellent investment and is considered safe because it is resilient to economic trends and is not impacted by inflation. Using Silver as an investment is a great way to diversify your portfolio and can help you to start accumulating wealth.
Due to its high electrical conductivity and durability, Silver has both industrial and technological applications, being used commonly in mass amounts for electronics, as well as jewelry, photography and coins.
The increased use of Silver in industrial products over the coming years, and especially the rampant trend of EVs; Silver companies are going to be in high demand in our near future.
Silver has done an excellent job holding its value and proving a good investment over the years, and many speculate that its room to grow is far greater than Gold currently.
While Silver isn't as revered as much as its Cousin precious metal, Gold, it is valuable and has many uses in our world today. It is an excellent metal to put in your investment portfolio… or wear around your neck in a dainty necklace.