Is it Silver’s Time?

Back in 1965 real silver had to be removed from US coins because the value of the metal had become greater than the value of the currency. People were hitting up banks for currency change and melting down the coins for the silver content.

In the 60’s the US controlled 6.5 billion ounces of silver, the single biggest stash in the world. Since then the US and governments around the world are nearly out of silver because they have been selling it all, pushing down the price of silver below even mining cost.

All the silver being sold in this time was mostly for industrial uses. Silver is widely used in most electronic products and has many industrial uses. It eventually gets used up in small amounts and thrown away (when people throw away products silver is used in.). Seeing as Gold is almost exclusively used for hoarding or for jewelry, it is more widely available. Silver, on the other hand, gets used up and stockpiles are shrinking rapidly. At current rates of production there is less silver in the ground than any other metal.