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10 Interesting Facts About Silver You Might Not Know

[fa icon="calendar"] September 22, 2017 at 11:30 AM / by Wayne Ko

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.

  1. Silver was the first metal to be used as currency, more than 4,000 years ago.
  1. In ancient Egypt, Silver was valued higher than gold. It was more rare than Gold at that time.
  1. The first Silver US dollar coin was minted in 1794.

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  1. In 1904, there was an abundance of silver coins and silver mining had slowed down, so production was ceased till 1921.
  1. The word "Silver" originates from the English Anglo-Saxon word "seolfor".
  1. "Silver" means "money" in more than 14 different languages including French, Thai, Swahili, and Welsh.
  1. Silver is the best conductor of heat and electricity. Definitely one of the very valuable elements on earth.

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  1. The biggest producer of Silver is Mexico and the biggest buyer of Silver is United States of America (as of 2016).6.jpg
  2. The global Silver reserves amount to around 530,000 tonnes, about 3 times more than that of Gold.
  1. The modern Olympic Gold Medal is made of Sterling Silver, which is then plated with 6 grams of pure gold.

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Wayne Ko

Head of Research and Education


Topics: Blog



Author: Wayne Ko

As Head of Research & Education in Fullerton Markets, Wayne provides thought-provoking analysis and trading ideas to thousands of clients worldwide. An established trader himself, Wayne's warm personality and passionate influence constantly draws people from all over the world to learn his simple techniques.

Wayne Ko