Demand for precious silver continues to grow throughout world markets as its three main pillars of usefulness develop further. These are decorative and industrial uses (56.5%), photographic materials (15.9%), jewelry (20.3%) and silverware (7.3%) that taken together account for approximately 95% of all sales. There are several enduring reasons why so many people continue to choose to invest in silver. These include flexibility combined with strength, sensitivity to light, electro-thermal conductivity, the range of temperatures it can bear, and of course, its timeless eternal beauty and intrinsic value.
Traditional Uses for Silver
Silver has always been a rare commodity, and not surprisingly it became a repository for value when first mined in the Bronze Age. Lumps hacked off a silver bar were weighed and used for trading. These evolved into silver coinage that brought order to the economic world, and that we use in imitation still today.
As people became wealthier they discovered the art of conspicuous living. Silver coins were no longer concealed in velvet bags. Now craftsmen turned them into some of the finest examples of human art ever seen. Today their masterpieces in the form of sculptures trade for millions of dollars each.
These statements of personal power find themselves translated into trophies for which the world’s greatest sportspeople compete. Many kings and queens, prime ministers and presidents process into their parliaments behind officials bearing silver maces.
Photography would not have been possible had Louis Daguerre not cracked the code of silver’s light-sensitive properties. Silver halide film is still first choice for x-ray specialists and movie makers, despite advances being made in digital technology.
Many people rich and poor remain convinced that dining with heavier silver cutlery makes a difference to the taste of food. Fine restaurants in every great city still serve culinary masterpieces on silver platters, in an echo back to days when kings and emperors dined off silver plate alone.
Industrial Uses
Silver is an essential component in battery manufacture where it often forms the negative cathode. Silver-zinc batteries are replacing lithium-ion ones in cameras, remote controls and mobile phones to meet pressing environmental concerns. Ball bearings that are silver plated have greater fail-safe characteristics and are used everywhere that reliability and safety are paramount. Silver’s excellent electrical conductivity is used in circuit boards, and is the secret behind soft-touch switches too.
Emerging Technologies
Silver has impressive anti-bacterial powers especially when used in bandages and burns. Its near perfect reflectivity is perfect for deflecting heat and light and it is used in one in every seven pairs of spectacles. It is proving to be a key component in large and small-scale solar energy generation, representing huge potential benefits in a world greedy for more energy. Finally, its anti-bacterial powers are proving a valuable ally in purifying scarce water sources in remote areas, and also combating legionnaire’s disease in air-conditioned cities.
The Future of Silver
No wonder silver has remained such a popular investment throughout history, and no wonder why it is so popular today too. Who know what other ground-breaking uses will be found for it in a world where it is already shielding us from the effects of global warming and providing drinking water. Wise investors afford it a prominent place in their portfolios.