Experts estimate that the total amount of silver discovered on Earth could fit into a cube with each side measuring 55 meters.
The largest piece of silver ever found weighed about 1,061 kg, equivalent to an adult bison. In addition to being present in various jewelry, coins, and cutlery, silver is also very useful in medicine and electronics. In fact, more than half of the global demand for silver is believed to stem from industrial applications. Most computers, phones, and cars contain silver. This material can also be used in silver inks, such as in Radio-Frequency Identification (RFID) chips.
The total amount of silver ever discovered could fit into a cube with each side measuring 55 meters. (Image: Evtushkova Olga)
According to the United States Geological Survey (USGS), more than 1.7 million tons of silver have been discovered throughout history. This entire amount would fit into a cube with each side measuring 55 meters, IFL Science reported on April 14. This cube is larger than the amount of gold that has been mined, which measures only 23 x 23 meters.
However, silver ranks just behind gold in the world of precious metals and is much more likely to be lost or discarded. Estimates suggest that nearly 50% of this silver has been lost or used in industry.
According to the Silver Institute in the U.S., silver began to be mined around 3000 BC in Anatolia, which is now part of Turkey. Mining expanded to Greece by 1200 BC, even providing silver for coinage in Athens. By 100 AD, most silver mining activity was taking place in Spain, where the metal became a traded commodity alongside spices.
It was not until much later that silver was discovered in the Americas, after explorer Christopher Columbus arrived in 1492. In the 1870s, global silver production increased from around 1,100 tons to 2,200 tons per year.
Today, Mexico is the largest silver producer in the world, with a production of about 5,600 tons in 2020. That year, nearly 25,000 tons of silver were produced globally. Other major contributing countries include Peru, China, Russia, and Chile.
Currently, there is still a significant amount of untapped silver. Peru is believed to have the largest silver reserves in the world, estimated at about 93,000 tons. Australia and Poland follow closely behind. Today, it is estimated that there are about 500,000 tons of undiscovered silver remaining in the world.