Silver has been valued for millenniums for good reason. Aside from looking nice, silver plays an important role as an industrial metal. It is even used by everyday people for practical purposes. The price of silver has skyrocketed over 27 percent this year alone, making this the perfect time to sell. Let’s delve into the details of this valuable metal.
If you were to travel through time back to 3000 BC, you would be living in the era when silver was first mined in a highly organized manner. About 500 years later, the Turks developed a cupellation technique to obtain silver from lead-silver ores. By 550 BC, the world’s first silver coins were minted in the Mediterranean. About 300 years later, the Roman Empire had adopted silver as a component of its standard currency. Silver quickly spread throughout the world as it was commonly accepted as currency for goods. At some point between 200 BC and 200 AD, silver became one of China’s official currencies. Fast forward to 1792 and silver had exploded in popularity. Alexander Hamilton actually proposed that a silver and gold-based monetary system be adopted. In 1794, the first official United States silver dollar was minted. The Silver Purchase Act of 1934 allowed for the confiscation and nationalizing of silver. It also forced the government to sell silver at a fixed price. President Roosevelt’s executive order number 6814 actually outlawed the private ownership of quantities of silver in excess of 500 troy ounces. In 1946, the United States government had become the largest buyer of silver. By 1965, the United States government had removed all silver from dimes and quarters. In January of 1980, silver reached an all time high of nearly $50 per ounce. It took until 2011 for silver prices to return to this level.
Silver and silver futures have jumped in value in the early months of 2016. Today’s values rival the highs achieved in 1980. There is plenty of debate regarding the reasoning behind this increase in value. Most people attribute silver’s considerably high modern day value to be attributable to a weakened American dollar and exorbitant demand for the metal throughout Asia.
Why Silver is so Coveted
Silver is more than just a shiny metal that is easy on the eyes. It has a number of industrial applications thanks to its high electrical and thermal conductivity. Recent nano silver research has made it possible for silver to be used in an array of applications within the home. Recent studies have alleviated concerns regarding the potential of silver leaking out of these household products and into our environment. Metal experts have little doubt that silver is perfectly safe for consumer products. Silver is even used in the healthcare industry as a topical cream for burn victims. It is also used for infection prevention, wart and corn treatment, radiology, catheters, bandages and dressings, implants, prostheses and beyond. Silver diamine fluoride is even used to prevent cavities. Many are surprised to learn that silver needles and silver sutures are used during surgeries to close wounds. NASA makes use of silver ions as they are incredibly light and assist in the purification of water. These silver ions are dispersed into water to eliminate bacteria that can be filtered out for potable water. Russian astronauts have also used silver as a means of purifying water while in orbit. Colloidal silver is quite costly yet it benefits the human body in a variety of facets. It has quickly become an uber-popular homeopathic treatment. Its use combats colds, the flue, bronchial issues and ear infections. The uses of silver for medicinal, consumer and industrial purposes continues to grow as we learn more about this highly unique metal.
Gold Smart Wants Your Silver
If you own silver, you should know that its value is hovering around an all-time high. The metal’s value has increased by nearly thirty percent in this year alone. This is the perfect time to cash out by selling your supply of silver to Gold Smart. We buy from Kiwis all over New Zealand, from Tauranga to Auckland, Christchurch, Wellington, Hamilton and beyond. Sell silver to our team and you will receive top dollar. We are a trusted New Zealand silver buyer for good reason. Check out our online reviews or ask industry experts about our business and you will find that we are second to none. It does not matter if you have silver jewellery, silver bullion or silver in any other form. We will buy it for an excellent price. Gold Smart is hands-down the best place to sell silver. Reach out to us today for more information.