Compared to gold, silver is not terribly scarce being the least expensive, most plentiful of the precious metals. However, when you consider the many uses for silver you may want to reconsider and start stashing some of it away for the future.
There are five (5) main sources, ie., countries, that produce silver. They are:
Mexico
Peru
United States
Australia
Chile
Silver can be derived from direct mining; mined as a by-product of gold, lead, copper and zinc mining, or extracted from recycled materials. These recycled materials are primarily photographic materials. The increasing demand for silver covers many different fields and many different uses. There are primarily three industries that comprise 95% of annual silver usage. These industries are industrial, jewelry and silverware.
The highly desireable qualities of silver make it highly useful in the electronics, computer and industrial markets. Some of silver's qualities they find useful are strength, malleability, ductility, electrical/thermal conductivity, sensitivity to light, reflectivity, non-corrosive and the ability to endure temperature changes - even to the extreme.
Its status as a precious material and the beauty achieved by artisans make it a favorite for jewelry. And with gold values increasing almost daily, silver is quickly becoming a favorite, even for some high end jewelers. It is not unusual in today's world to see precious gems being set in sterling or vermeil (sterling with a thin gold plate) rather than 14K gold.
Other markets and uses for silver may include:
Coinage
Water purification
Superconductivity - eg. contacts, switches and fuses in electrical applications such as microwaves, dishwashers, telephones, computers, washing machine and rear window defrosters
Imaging & Photography - photographic paper and film
Medicine - eg. silver sulfadiazine: a compound to treat burns
Mirrors - reflective backing behind the glass
Electroplating - coating of other metals with silver
With the ever increasing demand on silver for both industrial and personal use, it's no wonder that some find silver bullion an inviting - and affordable - investment medium.
