Silver has been used for money since the 6th century B.C. Silver was also referred to by the Egyptians as “lunar metal”. Back then, silver could still be found on the earth’s surface or at shallow depths, meaning that no complex extraction was required. and was already processed by the people living at that time. Silver has been known since about the 5th millennium B.C. As a result only around 20,000 tonnes of silver are obtained each year. In nature, silver ores are frequently permeated by lead ores. Around 70 per cent of silver production occurs during copper, lead and zinc extraction. In its pure form the white precious metal is even rarer than gold. These coins are often included in Individual Retirement Account investments.Silver frequently occurs during the extraction of base metals. The Silver Eagle has been produced at three mints: the Philadelphia Mint, the San Francisco Mint, and the West Point Mint. In addition to the bullion version, the United States Mint produces a proof version and an uncirculated version for coin collectors. The silver content, weight, and purity are certified by the United States Mint. The American Silver Eagle coin was authorized by the Liberty Coin Act, approved July 9, 1985. They have a nominal face value of one dollar and each American Silver Eagle is guaranteed for weight and 99.9% pure silver. Silver Eagles are struck only in the one-troy ounce size.
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