Silver Mines

Silver was discovered thousands of years ago as a viable from of monetization and as coinage. Many great societies, such as the Persian society, Greek society, and Roman society, were built upon natural stores of silver in their lands. As a result, there were vast sums of wealth that were created over time, which lead to an eventual devaluing of silver at some parts in history. Eventually though, as the silver levels began to diminish and balance out worldwide, silver reclaimed its original value and became a valuable asset once more.

The United States has several silver mines across the country, including in California where the 1949 gold rush took place. Most silver mines have more than one form of precious metal and the process of extracting silver usually comes as a result of extracting other metals, such as copper, zinc, and nickel. There are also silver mines in Alaska, Colorado, Idaho, Missouri, Montana, Nevada, New Hampshire, New Mexico, Oklahoma, Oregon, Pennsylvania, and Texas. The United States produced 1200 metric tons of silver in 2007, which was 35% of its overall use.

The rest of the silver used in the US was produced mostly by Mexico, which has the second highest number of silver mines and silver production levels in the world. Mexico, along with Peru and other parts of South America, sits on many silver deposits that are still untapped. This has lead to an improved Mexican economy thanks to a tangible asset that can be traded and exported with ease.

Silver mines worldwide are still being used to pump out all forms of precious metals, however there is fear that silver deposits are fading and as a result silver has come to the end of its hay day. However, this means that silver will be viewed as more rare than it has been and as a result will gain value. Although the price of silver is set by the price of gold (gold/silver ratio), it is likely that a strong showing of silver could improve the value of gold as well.

Although there are approximately 36 silver mines in the United States, many of them are inaccessible for those looking to pan for silver. Panning for silver, unlike gold, is not as popular though because silver is not as heavy and as a result will not sink in water the same manner in which gold does. The best way to collect silver for the average civilian is to find silver used as electrical conductor in wiring and on computer circuits. This can be refined into silver bullion by those that know what they are doing.

Although most people cannot get to the silver mines and extract their own silver, it is still very easy to buy and sell silver on the open market. This is by far one of the best ways to get into the silver game, aside fro buying silver certificates or stocks. I prefer to have the actual silver in my hands rather than in the form of a certificate, but to each their own.


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