Silver may be used as an investment like other precious metals. It has been regarded as a form of money and store of value for more than 4,000 years, although it lost its role as legal tender in developed countries when the use of the silver standard came to an end in 1935. Some countries mint bullion and collector coins, however, such as the American Silver Eagle with nominal face values.[1] In 2009, the main demand for silver was for: industrial applications (40%), jewellery, bullion coins and exchange-traded products.[2][3] In 2011, the global silver reserves amounted to 530,000 tonnes.[4]
Millions of Canadian Silver Maple Leaf coins and American Silver Eagle coins are purchased as investments each year. While these bullion coins are legal tender, they are rarely used at shops.[5] However, "junk silver" coins, which were originally minted for circulation, can still be found in circulation, albeit rarely, and are common targets in the practice of coin roll hunting.
- ^ "American Silver Eagle". The United States Mint. Archived from the original on 2 December 2013. Retrieved 24 November 2013.
- ^ "Supply & Demand". The Silver Institute. Archived from the original on 4 December 2011. Retrieved 29 September 2010.
- ^ "2000pres". The Silver Institute. Archived from the original on 29 November 2011. Retrieved 29 September 2010.
- ^ Silberreserven und Preise Retrieved 28. December 2012. Archived December 2, 2013, at the Wayback Machine
- ^ "Legal Tender Guidelines | The Royal Mint". www.royalmint.com. Retrieved 16 February 2020.