While gold is always regarded as the most precious metal, the importance and value of silver cannot be neglected. Silver is a fascinating metal that has been part of our history and even some religious rites. Silver is more than just a fancy flatware or jewellery. In fact, silver is used in various industries including industrial, electrical, dentistry and medicine and is also a widely traded commodity.
Below are some interesting facts about silver you might not know.
- Silver was the first metal to be used as currency, more than 4,000 years ago.
- In ancient Egypt, Silver was valued higher than gold. It was more rare than Gold at that time.
- The first Silver US dollar coin was minted in 1794.
- In 1904, there was an abundance of silver coins and silver mining had slowed down, so production was ceased till 1921.
- The word "Silver" originates from the English Anglo-Saxon word "seolfor".
- "Silver" means "money" in more than 14 different languages including French, Thai, Swahili, and Welsh.
- Silver is the best conductor of heat and electricity. Definitely one of the very valuable elements on earth.
- The biggest producer of Silver is Mexico and the biggest buyer of Silver is United States of America (as of 2016).
- The global Silver reserves amount to around 530,000 tonnes, about 3 times more than that of Gold.
- The modern Olympic Gold Medal is made of Sterling Silver, which is then plated with 6 grams of pure gold.
Head of Research and Education