iShares Silver Trust (SLV)

[Extreme4Reality]

Silver Value as Useful Commodity = $3/ounce

Most Silver is Produced For Under .50 cents per ounce

The world produces 1 billion ounces of silver per year, but only uses 500 million ounces. All the left-over silver is stored in massive piles.

All the silver we use each year (500 million ounces) is produced as a byproduct of other mining (like copper and zinc and lead). Byproduct silver is produced practically free of cost (but certainly under .50 cents per ounce), because the silver just goes along for a free-ride in the copper and zinc and lead mining process.

There is a massive glut of cheaply produced silver.

If silver prices dropped to $3.00 per ounce (or even $2.00 per ounce), we'd still produce enough silver to meet 100% of our commodity needs.