Silver has not enjoyed quite as long of a history as other metals, such as gold and copper; however, it has still been around for quite some time. It is estimated that silver was first discovered around 4000 BC. At that time, it was first used for jewelry making as well as a type of currency exchange. The pre-Hittites are believed to the first peoples to have worked with any large quantities of silver. This took place in a region known as Anatolia, now Turkey. This region served as the source for most, if not all, of the ancient silver in areas throughout Asia for a long number of years.
It was not until 3000 BC; however, that there was a concentrated effort to begin mining silver in other areas. After the Cretan civilization was destroyed in 1600 BC, silver production began in other areas. Significant amounts of silver mining as well as smelting began around the globe as the focus shifted. Spain became very important in the industry; however one of the largest and most productive mines was found to be located in Greece near Athens. This was known as the Laurium mine and it was worked for a long time, approximately from 500 BC to AD 100.
After the Laurium mine played out, the Spanish mines began to experience their heyday. The large amounts of silver the Spanish mines produced; however, were not sufficient to meet demand and mines in Asia Minor, Italy and Greece stepped up to supplement Spanish silver production.
During the 15th and 16th centuries the Spanish discovered and developed silver mines in countries they conquered, such as Peru, Bolivia and Mexico, to a great degree. These mines were found to be quite rich in silver. A new process was developed to mine and smelt the silver found in these large mines, known as the Patio process. Silver found in ore was mixed with copper ore that had been roasted along with salt and mercury. Tethered mules were used to accomplish the mixing process. The mules did this by walking in a circle through the mixture. This process allowed the mixture to convert to a divided form.
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Peru remained quite consistent in production of silver, with an average of more than 3 million troy ounces each year beginning in the year 1600 and lasting until 1800. By the 1700’s silver production in Mexico picked up as well and eventually began to average some 9 million troy ounces per year. Until 1800, Spanish held interests accounted for more than 85% of the silver production and trade throughout the world. Any remaining silver production and trade was divided between Hungary, Russia and Germany as well as some other smaller countries.
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Toward the mid-19th century, the largest silver deposit up until that time was discovered in the United States, in Nevada. For quite some time, this allowed the US to take the lead in silver production until Mexico and South America eventually regained the lead.
During the time period following the discovery of the Nevada mine, production continued at a good clip around the world. By 1920, worldwide production was averaging almost 120 million troy ounces per year. Countries such as Canada, Chile and Japan were also found to have silver deposits as well.
Throughout the last 50 years there have been a number of advances in silver production and mining such as bulk mining methods and the refinement of extraction techniques. These advancements have proven to critical due to the depletion of many important high grade ores at the end of the 19th century.
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