It is estimated that more than 95% of the world’s silver has already been mined and consumed.
Though its rapidly depleting supply makes it relatively scarce, silver remains the most abundant and inexpensive precious metal. In addition to being used as a medium of exchange, silver has been used to create jewelry, religious artifacts, plates, cups, vases, eating utensils and other vessels. In addition to it monetary and bartering uses, silver’s unique characteristics make it a valuable industrial commodity. Unlike gold, which is primarily purchased as a store of value, silver is most often purchased for its industrial uses. Adding to its diversity, this precious metal is also used in many health care products due to its antibacterial characteristics. With its limited supply and multiple sources of demand, silver is becoming increasingly popular to investors.