Silver, the element with symbol Ag and atomic number 47, is one of the oldest known metals to man. However, it seems that its discovery by the oldest Egyptian dynasty around 3500 BC was subsequent to that of the two other members of the same chemical family, i.e., gold and copper.
Historical Significance of silver
White and shiny, this precious metal has been used since Antiquity. The first extraction was done 5000 years ago: silver metal was mined in Anatolia (Turkey) in 3000 BCE. In antiquity, the first discovered veins contributed to enriching the Near Eastern civilizations, but also Greece and Crete. Silver metal served a cultural role in Egyptian society in the first dynasty.
By around 1200 BC, a silver-producing center was established in Laurium mines, in Greece, which supplied the empires in the area for several centuries, whereas Roman mines supplied the Roman Empire around Jesus Christ.
From 750 AD to 1200 AD, there were more significant silver mines that were found and used. These deposits like those of Eastern Europe and Germany helped spur the increase of resources for this period. Silver mining increased immensely in the 16th century with the New World discovery. The ores found in Mexico and Bolivia were resold by the Spanish to traders looking for this precious metal.
As with gold, so with silver. Silver has also been used as money for centuries. According to Herodotus, the earliest use of silver as coinage was in the 6th century BC. Croesus, who was the king of Lydia, first minted currency on electrum (a mixture of silver and gold). Other silver coins from the 7th century BC were also found in this region. In Greece, extensive silver coin production made it financially possible to fund many military expeditions. The metal obtained from the Laurium mines was used to produce Owl Drachmas, which were in circulation between the 5th century BC and the 1st century AD.
Silver mining continued into the Middle Ages and Renaissance with massive silver mines in Central Europe, particularly in nations like the Czech Republic and Germany. The New World discovery during the late 15th century continued to extend the silver mining further, primarily in South America. The Spanish Empire benefited most from the silver trade with the extraction from the Potosí mines of the present-day Bolivia, which was among the biggest silver mines in history.
As the centuries go by, silver metal usage has continued to increase. Since 2013 this demand however, is no longer matched by supply, although world silver production reached 27,000 tons in 2018. According to experts, silver reserves can last only a few more decades. It is this shortage that has resulted in precious metal recycling. Correspondingly, shattered jewelry, coins, cutlery and other metals contained in shattered gadgets are getting recovered, in particular gold and silver, with high-tech recycling processes.
The deficit of silver will surely be a factor affecting its price in the upcoming years.
Silver Physical and Chemical Properties
Silver is a transition metal with atomic number 47. It is the most electrically and thermally conductive of all metals and possesses high reflectivity and malleability as well. It is less reactive than most metals and therefore not easily oxidized and corroded. Silver does tarnish when it is exposed to sulfur compounds, however, and leaves a black sulfide coat.
Its high conductivity makes it an essential element in the production of electrical appliances. The thermal conductivity of silver causes heat to flow well, thus its widespread application in thermal conductors and high-tech electronics. The metal’s reflectivity applies in solar panels and mirrors, while its malleability allows very detailed designs to be formed into shapes that accommodate jewelry and silverware.
Silver Applications
One of the earliest and longest-serving uses of silver is as money. Silver coins have served as a medium of exchange, store of value, and unit of deferred payment for thousands of years. Silver coinage facilitated trade and economic stability among many ancient and medieval civilizations.
Now, while silver coins are not being used on an extensive scale for everyday transactions anymore, silver is still one of the most important investment commodities. Silver is bought in various forms like bullion bars, coins, exchange-traded funds (ETFs) and Silver IRAs. Silver is generally also seen as an inflation hedge and economic uncertainty hedge like gold. Its relatively lower price compared to gold also makes it accessible to more investors.
Jewelry and Silverware
Due to its ductile nature and sensitivity, pure silver is unfit for making jewelry. But the noble metal is alloyed with other materials such as copper, gold or palladium so that it can bear shock and deformation more easily.
Solid silver is the silver used to make silver jewelry, so that it can be distinguished from silver plating, regardless of the thickness or the galvanizing process used. But money comes in many forms.
Silver 999, also known as Fine Silver, is 99.9% pure silver. It is a very soft metal, and seldom used, if ever, for jewelry. It exists mainly as ingots or coins. Silver 950 has 95% of pure silver and 5% of other substances like copper. Because of its silver purity content, it is a ductile metal and is soft to work with in order to create silver jewelry. It is also corrosion resistant, scratch resistant and fading resistant.
Sterling Silver is another term for 925 silver, meaning that it contains 92.5% pure silver and 7.5% metals such as copper, zinc, etc. Because of this alloying process, the metal becomes harder and thus easier to work on. It can be Gilded with 24K Gold. Sterling Silver is the most used from of silver for making jewelry. It can oxidize in contact with sea water’s iodine, chlorinated swimming pool water, humidity, cosmetics, perspiration or household items. But it is quite easy to restore its shine. Lastly Silver 800 is made up of a minimum of 80% pure silver, with the balance 20% commonly consisting of copper.
Note that the hypoallergenic aspect of silver makes it ideal for sensitive skin.
Industrial Applications
Silver has many industrial applications owing to its physical properties that consist of high electrical and thermal conductivity, malleability, resistance to corrosion and ductility. Following are some industrial applications of silver:
- Electronics: silver alloys are used by the electrical, electronics and aerospace industries, namely as an electrical conductor in electronic components such as communications equipment, electronic contacts, conductors, switches and circuit boards
- Photography: for use in making photo films due to its light-absorbing property
- Medicine: silver is used in medicine due to its bacteriostatic nature. It is typically used to make dressings, catheters, surgical instruments, etc. Silver is also used in surgery (plates and sutures) and in dentistry (silver amalgams)
- Renewable energy: used in production of renewable energy due to its conductivity. Silver is applied in making photovoltaic cells for solar panels, LEDS and batteries recharging
- Jewelry and Decorative Arts: used in jewelry and ornament making due to its attractive shine and color
Medicine and Health
Silver has long been known for its antimicrobial properties. Silver pots were used to store water and other liquids in the past to prevent spoilage. Now, science has confirmed the role of this precious metal as a bactericidal agent and is using it in medicine.
Silver sulfadiazine, a compound of silver, is widely used in burn treatments to prevent and treat infections. Silver nanoparticles are increasingly being used in wound dressings, catheters, and other medical devices to prevent infection. The metal’s antimicrobial quality is also being implemented in coatings of medical instruments and on hospital surfaces to prevent the transmission of bacteria.
Environmental and Ethical Considerations
While there are numerous benefits associated with silver, its extraction and use are also problematic environmentally and ethically. Silver mining itself can cause severe environmental damage in terms of habitat destruction, water pollution, and soil contamination. On top of these ills is the use of toxic chemicals like cyanide and mercury to extract it.
For the purposes of addressing such challenges, efforts are conducted aiming at doing silver making sustainably and ethically. This includes more regulations, the development of environmentally friendly methods of extraction, as well as the recycling of silver from wastes like electronics and other materials.