Is silver rare or common?
Silver is the 68th most abundant element in the Earth's crust and 65th in cosmic abundance. It is found in small quantities in many locations on Earth. Large amounts of the metal have been mined in both North and South America, which together produce over half the world total.
Is silver still a precious metal?
Silver As a Precious Metal - The Silver Institute. Silver has been considered a precious element for 6000 years. It was first used as a currency in 700 B.C. and has had a role as a trading metal in nearly every ancient and modern culture. Silver's value has been proven as a precious metal and time-tested commodity.
Why is silver so cheap?
On the other hand, silver has more industrial use cases than all other precious metals today. That helps give it some more value, and also helps offset the imbalance between supply and demand. More silver to go around means that its price will be cheaper, untilt hat situation reverses all of a sudden.
Related Question Is silver a rare metal?
Is silver more rare than gold?
Gold. Interestingly, above-ground silver is actually more rare than gold. In fact, almost all the gold that has been mined to this day is still here, and its use is largely limited to currency, portable wealth, and jewelry. Also, unlike gold, silver is used in all types of industries.