Exactly who discovered silver? This is one of the most asked questions about this precious metal. The quick and easy answer is that no one really knows. What we do know about silver is that it has a long and rich history among the societies of mankind. Silver dates back over 5,000 years. Although no one person is credited for its discovery, many civilizations are responsible for recognizing its beauty and usefulness.
Fact From Fiction
Several stories exist to explain the discovery of silver, but none of them are true. What is true is that silver was readily available in many parts of the ancient world, and there is scientific proof that goes back to at least 4000 BC. In the areas around Iran, Iraq and Turkey, archaeologists have uncovered ancient bowls, artifacts and jewelry made of silver. In 1492, explorers found additional sources of silver in the New World, especially in Mexico.
Silver As Money
The Lydians were the first to discover silver's usefulness as money. Around 700 BC, Lydians created silver coins and used them as commodities. Much later, silver became the basis of the United Kingdom's first monetary system. The "Pound" originally refers to the weight of one troy pound of sterling silver.
Silver was also the first type of money system used in the United States, until it was replaced by gold, partly because silver could be used for so many other purposes. American merchants in the 1800s used silver to create eating utensils, photographic film and art pieces. This demand resulted in a shortage of silver, and in 1873, the United States government ended the silver standard and turned to a gold standard instead.
Fun Fact
Silver has a prominent place in medicine. It has a high resistance to certain types of bacteria and viruses, and it was used heavily before the advent of antibiotics.
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Where is silver found? Silver can be found in many different mines all over the world, but some countries dominate in silver production. |
Investing in precious metals, like gold and silver, has been very profitable over the past year. There are several ways to benefit from the bull market in silver which can be found in this article. |
