Silver coins, a silver tea set, silver jewelry, silver anything is beautiful, and in comparison to gold it is affordable. Personally, silver is one of my favorites. It is easy to wear, compliments most styles, and has physical and chemical properties, making it useful in business and industry.
World Production and Consumption of Silver. What is the Interest?
Modern society uses silver in jewelry, in industry, and manufacturing, and even in the medical industry. The physical properties are enormous!
There is silver in medicine, water purification systems, and even engine bearings in helicopters! We all know that it is common to see on a dinner table or jewelry, but did you know that there is silver in cell phones and laptops, solar panels, and it can even be recycled? Silver offers electric conductivity, making it a precious metal with a major use in industry.
The Antibacterial Properties of Silver
Silver is an anti-bacterial precious metal. The old saying, “growing up with a silver spoon in the mouth” wasn’t far off, if you consider silver’s antibacterial and antimicrobial properties, which means it helps reduce infections and sickness.
For example, Silver sulfadiazine cream is an cream used to prevent and treat wound infections, and burn victims. Silvadene cream contains 1%, contains micronized silver sulfadiazine. Silver even be found in our furniture and fabrics used in everyday life.
Mexico Is the Largest Producer of Silver Today
Mexico is the largest producer of silver today. Some of the finest silver can be found in Taxco, Mexico. Today, many people from around the globe visit Taxco to purchase their silver jewelry.
Taxco de Alarcón is located in the state of Guerrero, in the southern half of Mexico. Taxco itself is about 100 miles southwest of the nation’s capital, Mexico City. Historically, the people who lived in the area now known as Taxco used silver not for a precious metals investment or its physical and chemical properties, but to make gifts for the Aztec gods and other ceremonial purposes.
The Aztecs used silver for jewelry too. The Aztecs were incredible craftsmen, with meticulous attention to detail and color, but not many pieces survived the Spanish conquest.
Hernan Cortes established 1520 in Taxco because of its rich resource of silver. The silver was famous across Europe and Taxco became Spains main American source of precious metals.
By the early 1700 Europeans found more convenient places to mine silver. In 1716 that José de la Borda and his brother in Taxco to mine silver, gold, and iron. José was the riches man in Mexico from his silver mining in Mexico.
The Aztecs made silver jewelry, but the Spanish in Taxco were mainly after raw silver.
Taxco silver became famous when William Spratling moved to Mexico as an architecture professor and artist. He used Aztec art for his silver jewelry designs. He taught local silver designers how to produce his designs. He was nicknamed the Father of Mexican Silver.
Standard Mexican silver is 92.5% pure.
China isn’t far behind as a producer of silver. Peru, Chili, Australia and the US contribute to the available silver in the current silver market today.
The US John Mackay and the Virginia City, Nevada Mine.
Irish born and raised, John Mackay arrived in Virginia City with only the clothes on his back. Virginia City, established in 1859, had already drawn miners to the area who wanted to mine gold and silver. After, a German engineer developed a process to extract ore from hundreds of feet below the surface. Virginia City quickly grew, with more than 100 mines in the Comstock area.
Seven million tons of silver ore were produced, equating to more than $600 million in both silver and gold in today’s money.
After three years, Mackay acquired the Kentuck Mine, and produced over $3.6 million in ore. He and James Flood and William O’Brien joined forces and constructed a new mine, The Consolidated Virginia Mine (aka Con Virginia). Starting in 1873, the Con Virginia and the California Mine produced about $3 million per month for three years. After 22 years in production, the two mines would produce $180 million in both silver and gold.
There are many types of silver coins. The Mexican Silver Libertad, the Canadian Silver Maple, the Silver Britannia, and the American Silver Eagle are some of the most popular silver coins to collect. In 1965, coins minted in the United States were made from 90 percent silver. Just for fun, take a quarter from the 1950s and one from today. Drop them on a table top and notice the difference it makes in noise when it hits a hard surface. The silver coins sound louder than newer coins.
Silver coins are issued by the government and have a face value, and are legal tender. The country that minted them guarantees them. Silver coins that trade at lower premiums are occasionally referred to as silver bullion coins. In other words, most of the value of these coins is derived from their silver content, not the face value.
Some examples of silver bullion coins are American Silver Eagles, Canadian Silver Maple Leaf Coins, Austrian Silver Philharmonics, Australian Silver Kangaroos, and junk silver coins.
What is Silver Bullion?
Silver bullion is highly concentrated and 99.9% pure. Bullion is considered legal tender, in other words, bullion can be used for payment of debt or product. Because of bullion’s purity, it is often worth more than junk silver. Silver bullion has a lower premium than silver coins. A premium is the fee charged over the market price of silver for the dealer.
The market price of silver bullion is close to the spot price of silver. The spot price is the price of a precious metal if purchased at a certain point in time. It ebbs and flows with the economy.
This means that as long as you properly store silver bullion, you can reliably track changes in its value by checking the current price of silver.
They can come in many forms, including coins and bars. Another one you may encounter is called a silver round.
Modern silver bullion coins have a purity of 99.9% or better. The purest silver bullion coins weigh one troy ounce, which is 31.1035 grams, or 1.097 “regular” ounce.
It does not matter the number of coins you have if you are researching their value, because their worth is calculated on the total weight of the coins multiplied by the current silver price.
Silver rounds are a flat disc made from silver by a private minting firm. They are not legal tender, and more like a silver bar. Silver coins are also legal tender.
Silver bars are made to the same.999 fineness as silver bullion coins. Silver bullion bars can come in many shapes and sizes. There are many private refineries that produce nearly all the silver bullion bars on the market. A couple exceptions are the Royal Canadian Mint and the Perth Mint of Australia. Believe it or not, silver bars are cheaper than legal tender bullion coins of the same weight and purity.
As an investment, the value of silver bullion is almost entirely based on its weight and silver content. You can typically sell it to a range of buyers for a reliable price. The value of silver coins can vary depending on the condition of the coin, its mintage, and other factors. Coin dealers typically buy silver coins, and you may get various offers. Remember that silver coins have a numerical value, and can be sold at a premium to the right collector looking for your silver coin.
Is Mexican Silver of a Good Quality?
Mexico is one of the leading producers of silver in the world, and you’ll find the finest silver jewelry in Taxco, Mexico. Today, many people from around the world visit this city to purchase their silver jewelry. Most standard Mexican silver is 92.5% pure, but sometimes the purity can be as high as 99.9%. The purity is determined by the quality of the silver ore mined from the mine and the process used to extract the silver.
Silver vs. Sterling Silver
While pure silver and sterling silver are often used as synonyms, they are not the same.
Pure silver, or fine silver, is silver in its purest form. The content of silver in pure silver is 99.9%, with only.01% trace elements. High purity silver is very soft and difficult to shape. Jewelry needs some durability, so it holds its form and doesn’t scratch as easily, so pure silver is not the best choice for jewelry. To achieve a more suitable silver for jewelry making, silver is mixed with other alloys like copper and nickle to give it more strength, but not degrade its malleability.
Sterling Silver is a silver that has been combined with other metal alloys. Sterling silver is fine silver combined with copper. There is 92.5% pure silver and 7.5% copper in sterling silver. The hallmark stamp on sterling silver will be “925 silver.” 925 silver is affordable and easier craft and repair. On the other hand, it requires frequent polishing to keep it looking shiny, because it tarnishes.
Why does Silver Tarnish?
There are some things that tarnish or damage silver. 925 silver is durable. Water, gentle polishing, soap doesn’t harm silver. Silver tarnishes because of sulfur containing gases in the air. Silver reacts to the gas in the air and thus discolors or tarnishes.
Silver is trendy and a precious metal you can wear everyday. It is durable, hypoallergenic if nickel free, and safe for your skin. In fact, the natural oils in your skin help keep silver shiny, because oils slow down the process of tarnishing.
Silver and Methology
Silver is linked to myths of the moon, vampires, werewolves, and goddesses of the night. Siler is said to foster relationships of long lasting love and a harmonious life. It is a metal intertwined with the creative side of a person and the feminine nature of women and men.
It is believed that silver wards against evil spirits mainly because of its association with the moon. Many religions believe silver wards off monsters of the night, and religions like Islamic, Hindu, Egyptian, and Eastern European think it is a positive deterrent to ward off evil.
Silver has both intrinsic and social uses. It is a precious metal bought and sold worldwide. As an alternative to gold, it is affordable and has many applications. It is alluring.
Do You Have Silver To Sell, Pawn Or Trade? Do You Want to Buy Silver?
The price of silver fluctuates daily. It continues to be a precious metal most people want to buy or sell. But where do you go to get an affordable deal?
Pawn shops will buy, sell, and pawn silver. They deal in precious metals and are experts, knowing the silver prices and how to determine the purity of your silver items.
Lincoln Pawn located in beautiful Anaheim, CA will test, buy, sell, and pawn on silver items. They have over 25 years of combined experience, and their team of professional appraisers are ready to offer you the most money for your silver. They accept all types of silver including, silver bars, silver coins, silver necklaces, silver rings, silver, watches, silver earrings, and silver coins.
With their ability to test silver, you will know exactly what you own, and based on the current silver spot price, you can get a quick cash offer.
Maybe you don’t want to outright sell your silver. Consider taking a pawn loan using the value of our silver item as collateral for a short term pawn loan. The process is quick and easy and you just need to provide a state issued ID. There are no credit checks required.
Lincoln Pawn also sells silver and has an online shop for easy shopping. Their inventory changes often so check back often.