SilverMedicine.org
Silvermedicine.org

The Price & Value of Silver
Money, Economy, Investment: A Brief Economic History of Silver


Website Search


Main Website Sections

Colloidal Silver

 

Historically, silver has been used as a tangible commodity dating back as far as the ancient Egyptians and even the Sumerian Empire. Modern technological advances have increased the actual industrial demand for silver, yet the actual monetary value of silver has been in steady decline since the 1500's. Today, the demand for silver may be categorized: 30% for photography, 30% for Jewelry, and 40% for industrial uses. Silver, as well as other valueable commodities and currencies, are often traded through an online forex market. Silver pricing for investment is measured per troy ounce. This document is designed to briefly highlight the history of silver as a commodity.

...Silver in the News...
 

Economic History: The Value of Silver

[Most Recent Quotes from www.kitco.com]

Price History and Current Value of Silver

  • July 18 2003 - $4.71 + 0.05 ( begin tracking silver price )
  • September 25 2003 - $5.20 + 0.49 ( from initial July silver value )
  • November 25 - $5.28 + 0.57 ( from initial July silver value )
  • December 12 - $5.57 + 0.86 ( from initial July silver value )
  • September 5, 2004 - $6.52 +1.81 ( from initial July 2003 silver value )
  • September 16, 2006 - $10.72 ( reset tracking )
  • May 7, 2006 - $13.48 ( +$2.76 )
  • April 24th, 2010 - 18.28$ (+$7.56)
   

 


The Future of Silver?

...Silver fundamentals made inevitable the rise so steep,
To obtain more silver, we look to the ocean deep!
The price of silver continues to escalate,
Worldwide consuming industries pay the freight!
Silver shareholders are human moneybags,
What scares them now, not high price tags!
Leveraging thousands of dollars into millions,
Gates, Soros and Buffett make billions!

- Charles Savoie © 2002
silver-investor.com

The Price of Silver: Six Centuries of History

    • 1344 - Price of silver @ ~$400.00 per ounce

    • 1477 - Silver value reaches ~$806.00 per ounce ( all time high )

    • 1545 - Potosl mines open in North America ( silver value begins a gradual decline )

    • 1780's - Silver value falls below $100.00 per ounce

    • 1890's - Silver prices fall below $50.00 per ounce

    • 1980 - Price of silver @ $68.00 per ounce (Hunt Brothers attempt to corner silver market)

    • 1998 - Silver valued @ $6.24 per ounce

    • 2003 - $4.07 per ounce

- Pre 1998 Prices based on the value of the U.S. dollar, 1998, goldinfo.net

Noteworthy Events in History: Silver

Jan 16th - 2001 - Silver Use in Biocidal Applications Expected to Impact Precious Metals Market

Silver Consumption for Biocide Applications ( excluding water treatment use )

Year
Silver Consumption ( troy oz )

2000
2002
2004
2006

   445,000 consumed
1,200,000 estimated
2,140,000 estimated
2,940,000 estimated

A report published by the Silver Institute cites a 600% increase in the demand of silver for biocidal applications.

CPM Silver Yearbook 2007 Summary

The CPM Silver Yearbook report concluded that net silver investment demand was about 60 million ounces for 2006. This upward trend is expected to continue to rise in 2007.

The yearbook cited that investment demand, primarily motivated by a need for protection against inflation, is strong in India, the Middle East, and the West. Part of this interest is due to increased participation in the commodity market's recent boom.

Silver supply is expected to increase 3% this year, to 520 million ounces.

The central bank in India has completed its sell off of about 60 million ounces of silver ( sold over the last few years ).

Warren Buffet sold 130 million ounces prior to the Silver ETF's purchase of about 130 million ounces.

The Silver Yearbook's conclusion was that silver prices are likely to continue to rise.


This article has been viewed


times since August 2009


back to top

Silver
Colloidal Silver

Silver
Silver Information




Featured: New Free Ebook on Therapeutic Clays...
 


Translate this page into your language:





Website Visitor Details

Current Number of Visitors Online: 21
Most Ever Online: 248


Translate this page into your language:





 
 

Page Last Modified: 03/2/17 07:45