Posted in: Investing
Where are the Largest Silver Deposits in the World?
Although not as sought after as its more famous brother, gold, silver is still a highly desired precious metal. The following deposits have the largest amount of silver in the world.
KongsbergKongsberg, in Norway, is the most famous location of silver deposits in history. Silver was first found here in 1623. Legend has it that silver was initially found by two small children who found the metal while out with their cattle. They took it home to their father, who melted it down and tried to sell it. Authorities were suspicious that the man was selling silver for such a low price and arrested him, convinced he was a thief. He was given the choice between being imprisoned and telling the authorities where he had found the silver. He gave them the location and the rush for silver began. The mines in Kongsberg have played an important role in Norwegian history. Over the nearly four hundred years they have been mining silver, over 450,000 man-years were spent working in the mines. The mines had a significant economic impact, as well. It supplied over 10% of the gross domestic product of the Danish and Norwegian union during its existence.
BatopilasLocated in Mexico, Batopilas was founded as a location for mining silver just nine years after Kongsberg. However, during this time it has been more productive than the Norwegian mines, although it hasn’t quite gained the same fame. During the past four centuries, the silver deposits in Batopilas have produced seven times as much silver as Kongsberg.
FresnilloAlso located in Mexico, Fresnillo is the largest producer of silver in the world. Although it also has deposits of gold, silver is the primary metal in Fresnillo. In 2007 34.3 million ounces of silver came from Fresnillo, compared to just 280,000 ounces of gold. United States Gold Bureau has a large selection of silver for you to choose from and add to your collection or your Precious Metal IRA. Contact us today to discuss our inventory and current prices.
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