The only continent without gold is Antarctica. Silver, however? In fact, only four of the seven continents have significant amounts of silver (above 55 percent). In that case, how much silver is there in the world?

How Much Silver is left in the mines?

The United States Geological Survey estimates that 1.74 million metric tonnes of silver have been found so far (USGS). Mexico, China, Peru, and Russia are the top four producers of silver in the world. The Silver Institute states that in 2019, global silver mine production declined by 1.3%. A decrease in world supplies occurred for the fourth year running.

How Strong Is Silver’s Demand?

The Silver Institute reports that despite the current global trade war, the demand for silver on a worldwide scale increased by 0.4% in 2019 compared to 2018. This demand was driven by an increase of 12% in the number of transactions involving the acquisition of silver as an asset. During this time, demand for silver fell across a variety of product categories, including jewellery, silverware, photographic equipment, and industrial goods.

How many times as much silver is there as gold?

World Gold Council estimates that 198,000 metric tonnes of gold and 1.74 million metric tonnes of silver have been mined respectively. So, much more silver than gold has been mined. According to the World Gold Council, there are still 54,000 metric tonnes of gold to be extracted. That compares to the approximately 560,000 metric tonnes of silver that are still underground.

Where can one find silver in the world?

The United States Geological Survey (USGS) estimates that silver mines throughout the globe generated a total of 27,000 metric tonnes of the precious metal in 2019. This was made possible in part by increased production in Argentina, Australia, Mexico, and Poland.

According to the estimates provided by the US Geological Survey, Mexico was the country that produced the most silver in 2019 (6,300 metric tonnes), followed by Peru (3,800 metric tonnes), China (3,600 metric tonnes), and Russia (2,100 metric tonnes).

What Is the Average Annual Production of Silver in the United States?

The United States Geological Survey (USGS) reports that in 2019, mines in the United States produced around 980 metric tonnes of silver, which had an estimated value of $510 million. There were four silver mines that produced silver, while an additional 33 enterprises, such as gold and copper mines, also generated silver as a byproduct. The most silver is produced in Alaska, followed by Nevada in the rest of the nation. The United States is tenth on the list of all nations when it comes to the production of silver.

What Percentage of Silver Is Still in the World?

The United States Geological Survey estimates that there are still around 560,000 metric tonnes worth of silver deposits in the globe. The reserves held by Peru are the largest by far at 120,000 metric tonnes, followed by those held by Poland (100,000 metric tonnes), Australia (90,000 metric tonnes), and Russia (60,000 metric tonnes) (45,000 metric tons).

How do I go about purchasing silver?

Purchases of physical silver in the form of coins and bars are the most prevalent method of buying silver. Buying shares in silver exchange-traded funds (ETFs) or silver mining firms such as Aubullion.ca can help you getting the right deal. Another way to participate in the silver market boom; nevertheless, investing in precious metals is always a good decision. 

Tags: Purchases of physical silver, Investing in precious metals