Yes you are correct. The most commonly known uses of silver are in jewelry and in high quality cutlery (i.e., silverware) and historically silver was used to make currency - - silver coins. But in recent decades, silver has been increasingly used in a broad range of industrial applications. Emily Claire Ferre in an articled entitled “The Many uses of Silver” (in www.geology.com), has provided an excellent summary of the many uses of silver including in:
- Brazing and Soldering;
- Chemical Production;
- Coins and Investments;
- Jewelry and Silverware;
- Mirrors and Glass;
- Water and Food Purification and Hygiene; and,
- Other uses.
Whether in cell phones. Solar panels, and electric cars, new innovations are constantly emerging to take advantage of silver’s unique properties. Silver as a precious metal because it is rare and valuable and silver as a noble metal because it resists corrosion and oxidation and has a host of other properties amenable to an expending range of industrial applications.
Michael DiRienzo, Executive Director and Secretary of the Washington based Silver Institute recently noted that “we think industrial fabrication (demand for silver) is going to grow within the automotive sector and in photovoltaics, two very important end uses for silver in the foreseeable future.”