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What is SILVER TODAY

SILVER TODAY is an informational and education website designed to inform people about silver. It covers a number of aspects about silver including how to buy silver, how to sell silver and information for investors of silver.

Silver has been commonly in use as a currency for many hundreds of years. The first currency of the modern Greek state was called the Phoenix. Originally issued in 1828 in the form of a silver coin equal in value to the French Franc at that time, its official denomination was the lepton.

Then, in Germany in the late 15th century, one finds silver coins being used called the Talers. This word has been translated from the German into many other languages including English, resulting in the words daler, daaler and eventually dollar. So the word dollar is not unique to the western world.

Many other examples of these early silver coins can still be found in museums, private collections and perhaps, who knows, many more may be found on future treasure hunts down the track.

Silver currency has many distinct advantages not the least of which is it's value. Around 1980 there was about 2.5 to 3 billion ounces of silver mined and a surplus above 300 million ounces yet silver was able to break above $50 an ounce at that time.

Today above ground stockpiles of silver have dwindled and warehouse inventories are down to around 100 million ounces, of which two thirds are already spoken for. Yet silver is absolutely essential for industry, being used in many things from keyboards to phones, refrigerators and thousands of other manufactured goods. Also silver production is mostly a by product of other mining such as lead, gold and zinc for example. There is little actual silver being mined and silver consumption has been outstripping supply for over 14 years.

Unlike gold which, for the most part, is retained in circulation, silver gets used up with the amount of silver left dwindling.

This, coupled with the decline in the value of the dollar and other fiscal currencies around the world, means that can be silver is seen as an excellent hedge against a lessening of asset value.

This has resulted in the value of silver being on a steady increase for some years.

In the silver market both coins and bars are extremely liquid. In a meltdown situation where silver might be at a premium, coins and small bullion bars would be easier to barter with than the larger bars.

Your first port of call is the What is Silver? page.

Here's to lots of lovely silver!

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