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<p>[QUOTE=&quot;kaparthy, post: 1041750, member: 57463&quot;]Worldwide and historically, when the industrialized nations (Germany, England, the US, and Japan, etc.) went to the gold standard (UK first in 1821, then the others, 1870-1890), the price of silver, which was already falling, nosedived.&nbsp; In fact, coinage in silver actually increased, but it was no longer the national government&#039;s store of wealth, as they went exclusively to gold.&nbsp; The First Great Depression took a toll on silver as well -- though not on gold.&nbsp; </p><p><br /></p><p>The point is that coinage was not the primary use of silver.&nbsp; Despite massive production of cheap, inflationary silver (&quot;subsidiary&quot;) coinage, the price of silver did not hold or rise.&nbsp; Industrial uses were more important, from photography (a hobby craze) and medical X-rays, to solders which were critical to a civilization quickly becoming based on electricity, even more than fossil fuels -- indeed, the need for those fuels was the production of electricity, not direct home heating.&nbsp; &nbsp; Today, most silver comes as a biproduct of copper mining: we still live in an electrical age.&nbsp; </p><p><br /></p><p>Similarly, coinage is a but a smaller fraction of gold consumption: five times more gold goes into jewelry than into official coins or investor bars. <a href="http://www.research.gold.org/supply_demand/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.research.gold.org/supply_demand/" rel="nofollow">http://www.research.gold.org/supply_demand/</a>&nbsp; (From the World Gold Council, the guild for the mine owners.)&nbsp; Tokens of love aside, much of that jewelry is a form of savings: the people of India are the largest consumers of gold jewelry.</p><p><br /></p><p>Just to say, silver&#039;s primary use even today </p><p><br /></p><p><br /></p><p>Overall, industrial demand is five times greater than coinage and even with near complete digitalization of imaging, photography eclipses coinage.</p><p>See here:&nbsp; <a href="http://www.silverinstitute.org/supply_demand.php" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.silverinstitute.org/supply_demand.php" rel="nofollow">http://www.silverinstitute.org/supply_demand.php</a>[/QUOTE]</p><p><br /></p>

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