3 Bonafide Reasons Why Silver is So Valuable
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Silver has been a prominent precious metal over the centuries and for good reasons.
Here are 3 reasons that’ll confirm and further attest to the value and versatility of silver.
Silver Has Been Valuable As Ancient Currency
Silver emerged as a viable form of money because of:
- Divisibility: It could be cut into smaller denominations easily, for making smaller payments.
- Durability: It’s resistant to corrosion and can withstand the test of time. This extends the period for which it can be in circulation without incurring damage.
- Portability: Since it’s non-perishable and durable, silver can be carried across long distances.
- Cognizability: People had no problem attesting for the value of silver because the metal speaks for itself. Regardless of the location, it could be a reliable medium of exchange.
- Store of Value: This precious metal is known to retain its purchasing power even during times of economic uncertainty. This preserves the value associated with each silver coin, and became a reliable measure of wealth.
Silver is a Precious Metal with Special Properties
Modern science explains why ancient civilizations chose to rely on this precious metal as a form of currency. Not to undermine the lustrous appearance and aesthetic appeal of silver, but this metal is distinguished among others due to several special properties.
When grouped with other precious white metals such as palladium and platinum due to similarity in color, silver can become more useful.
Apart from being malleable, the melting point of silver is middle-of-the-pack. It melts 962 degrees Celsius. This is an important consideration to factor in when you discuss its industrial uses.
Silver Is an Invaluable Industrial Metal
Industrial applications involve using large volumes of silver. It’s commonly found in silver ware medical instruments, water purification systems, grazing, and silver jewelry.
This is a precious metal that’s revered as much for its ornamental value as it is for its industrial versatility. In comparison to gold, industries rely much more heavily on silver and use generous amounts of it during manufacturing.
This metal has far-reaching uses from being utilized in smart phones, to being used for coating surgical tools, as well as in solar panels. Silver is also used in photography as well as in long-life batteries.
Owing to its chemical properties, silver doesn’t react with other substances which greatly enhances its efficiency as a catalyst. Its malleability makes it possible for manufacturers to easily mold it into desired shapes. Its ductility allows it to be drawn into thin wires that are good for conducting electricity.
If you’re interested in investing your wealth in silver, come to us.
We’re a leading precious metals investment dealer that helps purchase of silver coins online. If you want to secure your savings with silver investment, we can help.