The History of Silver

Silver, with its beauty and pliable nature, has long been a popular across the globe throughout history. The first time on record that we see people use silver to create coins was as far back as 600 BC. Coins appeared in both Asia Minor and parts of Greece. The Romans were the first to try and create a consistent, official sort of silver coin that was used in local and international trade.  These environments and situations for silver made it ideal in the role it would play in the creation of the dollar.

Thousands of years later, in the 1500s, minted silver coins were surfacing all across Europe. In what is now the Czech Republic, there was a larger supply of silver than usual and many coins were being minted in that area. These coins were named after the specific location that the silver came from, the valley, or “thal”. These coins were then referred to in general as “thalaers”, and were eventually regulated to certain sizes and weights. Eventually the thalaers evolved into the German thaler. Most of the German thalers were minted in Brunswick, and under the control of the Holy Roman Empire. These coins became the standard in Europe.  Many states would mint coins with values that were based off of the thaler.

silver to dollarOrigin of the U.S. Dollar

This German thaler is considered the ancestor and originator or the United States dollar. When the U.S. made its break away from Britain, it wanted to differentiate itself in as many ways as possible. So while Britain had the pound, the United States chose to go with a currency loosely based off of the mainland Europe thaler.

Today we obviously don’t have a dollar based off of the value of silver.  But the U.S. government and many other countries mint fine coins for collecting and investing. The most popular silver coin to invest in from the U.S. is the American Silver Eagle. It is a beautiful piece of work depicting both the lovely Lady Liberty and the Heraldic Eagle with a shield. With the global economy so unstable and so unpredictable, the price of silver stands strong. Silver has a unique history of always being involved in the world economy.  It has also provided a strong currency for various powerful States. Diversify and prepare for the worst, and look for a strong company that can guide you in making the right investment decisions.