/biz/ - Business & Finance

Silver is money, and has been since civilizations began trading with each other.

Since the sea was / is how goods go from one spot to the other, the anti microbial / anti bacterial properties of silver was / is needed to keep the water supply potable. From 6000bc to 1964 It served at the best form of international currency available. So for 8k years it was money and everything that came out of the ground remained accounted for. That left ALOT of above ground silver.

Fast forward to today and industry has sucked up most the vast stores of above silver which were lost to landfills never to be recovered. Today the vaulted amounts for silver : gold are roughy 1/1. Annual usage for silver has outpaced mine supply for a long time. Most the easy silver is already out of the ground, and at $23 it is not profitable to open new mines.