You can learn more about those two specific silver price highs here. Spanish silver coins, known as “pieces of eight”, were in circulation between the end of the 16th century and the end of the 19th century. The government eliminated silver from 25-cent and ten-cent coins, and half a dollar was reduced to 40 percent silver. This is simply due to the fact that the silver investment market is much smaller than that of gold.
However, the ability of central banks to print massive amounts of currency could affect paper currencies in the coming decades, making silver and other solid assets potentially more attractive to long-term investors. With the main interactive chart below, you can easily see four decades of silver price history. Therefore, to take advantage of silver prices, some people sold their silver coins and cutlery to benefit from the high prices of the shiny gray metal. As a result, to protect their savings from inflation, investors could rush to search for safe metals, namely gold and silver.
Historically, fiat currencies have lost value over time and solid assets, such as silver, could maintain their value despite the fall in the value of paper money. In addition, interactive charts can be used to examine historical silver prices per ounce or kilo and in numerous currencies besides the dollar. In another example, analyzing historical silver price data can also help investors identify areas of support that could be strong buying opportunities. Silver has stood the test of time as a reliable repository of wealth and value, and the white metal is likely to continue to be sought after for its potential for price appreciation and its potential to provide significant hedge against numerous economic and geopolitical problems.
The totals of gold and silver stocks will be calculated, including the ratio between gold and silver. Silver's conductivity and resistance to corrosion make it a very useful component for manufacturing conductors and electrodes. This rapid and significant increase in the price of silver could have been driven by a significant aversion to risk and concern about the possible effects of massive quantitative easing measures to underpin the economy. Silver prices have much greater growth potential than gold, since the gray metal is much more volatile.
Obviously, this did not help cool the prices of the gray metal, since less than a third of the silver market was not controlled by the Hunts through futures.