Silver, a precious metal that has been sought after for centuries, is not as abundant as one might think. In fact, all the silver that has ever been discovered in the world can fit into a relatively small cube that measures 55 by 55 meters. While this may seem like a surprising fact, it is a testament to just how rare this shiny metal is.
Despite its scarcity, silver is widely used in various industries, including electronics, medicine, and jewelry. Over half of the world's demand for silver comes from industrial applications, such as in computers, phones, and cars. In addition, silver is used in silver ink, which is used in RFID chips. This versatile metal has many applications and is a critical component in modern technology.
Throughout history, silver mining has been an essential part of many civilizations. The mining of silver began in Anatolia, now Turkey, around 3000 BCE, and later progressed to Greece in 1200 BCE. Spain became the largest producer of silver in 100 CE, where the metal was a trading item, along with fragrant spices. Later, silver was discovered in the Americas, and production grew from around 1.1 million to 2.2 million kilograms a year by the 1870s.
Today, Mexico is the world's largest producer of silver, producing around 5,600 tonnes in 2020. Other significant silver-producing countries include Peru, China, Russia, and Chile. Peru has the largest silver reserves in the world, with around 93,000 million tonnes, followed by Australia and Poland.
Despite the vast amounts of silver that have been mined throughout history, nearly 50 percent of it has been lost or used in industry. This loss is due in part to the fact that silver is often the runner-up in the world of shiny metals, and people tend to value gold more.
Briefly, while silver may not be as plentiful as some might assume, it is still a valuable and versatile metal that has been used throughout history. From ancient civilizations to modern technology, silver continues to play a significant role in shaping our world. So the next time you use your phone, drive your car, or wear jewelry, remember that silver played a part in making it possible.
