The International Silver Trade

Thomas Patrick Mohide
188 Pages
Silver, for centuries, has fascinated and been desired by many. As a valuable and beautiful metal it has been an integral part of history and early archaeology, used initially as ornaments and money and now as a vital constituent in so many of our modern appliances.

Thomas Mohide has produced a book of encyclopaedic quality. While previous books on silver have tended to focus more closely on one particular aspect of the trade, Thomas Mohide disregards nothing and, as such, presents a complete record of this most extraordinary metal.

The history of silver is discussed along with an in-depth review of its phenomenal properties and panoramic uses. Reserves, mining and refining of silver are examined as are demand and consumption patterns, prices and trading.

Table of Contents

Chapter 1: Origins and History of Silver

Introduction

Ancient silver names
History and early output
Silver as money
Treasure hoards of silver

Chapter 2: Exploration for Minerals

Taxation incentives

Effect of the silver price on exploration

Chapter 3: Sources of Silver

World resources and reserves

Geological peculiarity
Silver scarcity: the importance of reserves to the market
Reserve definitions
World reserves
Outlook

Chapter 4: Mining

Mining regions
Mining methods
Primary silver mines
Silver from copper, gold, lead and zinc mines
World mine output of silver
Surpluses in the market
World producers of silver
Fallout from recession

Chapter 5: Extraction and Refining of Silver

Early methods of refining silver from ores

Modern metallurgy
Concentration, flotation
Chemical reactions - refining
Modern recoveries of secondary silver from scrap
Principal precious metal refineries in the western world
Environmental problems

Chapter 6: Stocks and Inventories of Silver Bullion

India
US

Chapter 7: Properties and Uses of Silver

Characteristics and properties of silver

Importance of silver in industry and commerce
Uses of silver
Substitution for silver
New uses of silver
Outlook

Chapter 8: Demand and Consumption

US
Japan
Western Europe
India
The former USSR
Canada
Consumption in industry
Monetary reserves
New consumers in the market
Outlook

Chapter 9: Price of Silver

Introduction
The permanent value of silver
Supply and demand balance
Running out of silver
Factors related to the silver price
Factors keeping the silver price down in 1990 and 1991
Conering the market
Price forecasts
Outlook

Chapter 10: Trading

Introduction
Trading exchanges for silver
Establishment of a daily price
Fixings
Handy & Harman quotation
Futures
Market transparency
Clearing House
Trading techniques and strategies
Taxation
Commissions
Shipping/insurance
Financing Role of governments
Structure of the trade in the future

About the Authors

Michael Atkin has worked in the base and precious metals industry for over 40 years. He has worked for both Inco and Falconbridge as manager of sales of base and precious metals. In 1967 he joined Engelhard Industries, trading gold, silver and platinum. From there he became President and Chief Executive Officer of the Winnipeg Commodity Exchange where he successfully launched the world's first gold futures contract in 1972. Until 1986 he was Director of Mineral Resources with the Canadian Government and between 1985-1986 was special advisor to the deputy minister.

Thomas Mohide retired in 1986 but is currently a columnist of a weekly mining newspaper and acts as a metal consultant as well as lecturing to students of metallurgy. He has written many books on precious metals and is a gold member of the International Precious Metal Institute of which he was a Director between 1976-78.