Today most of us think of silver primarily in terms of inexpensive jewelry, fancy flatware, or the commodities market. However, there’s a lot more to this precious metal than serving as a decorative accessory or a means of diversifying individual retirement accounts. Here are some fun facts about silver that you might not already know.
- Silver’s atomic number is 47, its atomic weight is 107.8682, and its symbol is Ag—, which is derived from argentum, the Latin word for silver.
- The discovery of silver dates to around 5000 BC, making it one of the first five metals discovered by humankind.
- Silver is one of the shiniest and most reflective elements we have, so it is used extensively in mirrors, microscopes, medical instruments, solar cells, and similar products.
- Most silver jewelry is made of sterling silver, which is an alloy consisting of 92.5% silver and 7.5% copper or other metals.
- Silver’s melting point is 961.8ºC and its boiling point is 2162ºC.
- The words “silver” and “money” are exactly the same in at least 14 different languages, including French, Welsh, Swahili, and Thai.
- Mexico is currently the world’s leading producer of silver, followed by China, Peru, Chile, and Australia. Meanwhile, the United States and Canada rank 9th and 10th, respectively.
- Silver is an incredibly efficient thermal conductor, and for this reason is used as the defrosting agent on the rear windows of vehicles.
- Silver scores a perfect 100 on the electric conductivity scale, making it the best out of all the elements. By comparison, copper is rated at 97 and gold at 76.
- The black sulfide “tarnish” that develops on silver items after prolonged exposure to air is the result of a reaction with sulfur compounds.
- Silver has numerous industrial applications, and is frequently used in long-life batteries, RFID tags, printed circuit boards, ball bearings, film, and wires and connectors.
- Because silver has excellent antibacterial properties, it is also used in wound dressing, ointments, and bandages.
- The most popular silver coins purchased for precious metals IRAs include American Silver Eagle bullion coins, American Silver Eagle proof coins, and Canadian Silver Maple Leaf coins. Maple Leaf coins silver content is 99.99%, while the more popular Silver Eagle coins’ is 99.9%.
Silver is a versatile precious metal that has been valued for millennia and will continue to occupy a prominent place in the economy, industry, and society for many years to come. Use its long-lasting popularity to your advantage by making silver part of your precious metals IRA today.
Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.