Posted By: admin | Posted In: Currency and Monetary Systems | May 8, 2023

Silver can be considered both money and currency, depending on the context in which the term is used.

As money, silver has been used as a store of value, a unit of account, and a medium of exchange for thousands of years. It has been used as money in various civilizations and cultures around the world and has held its value over time. Silver is durable, divisible, and portable, which are key characteristics of money.

As currency, silver can refer to physical silver coins and bars that are used as a medium of exchange. Silver coins were widely used as currency in the past, and many countries issued silver coins as legal tender. Today, silver is not commonly used as currency in everyday transactions, but it can still be used as a means of exchange and a store of value in certain contexts.

In addition to physical silver, there are also various forms of digital or paper silver, such as silver-backed exchange-traded funds (ETFs) and silver certificates. These forms of silver can be traded as a currency, although they are not physical currency like paper bills and coins.

What’s interesting is for thousands of years, silver has been both money and currency at the same time because its own value was guaranteed by its own worth.

There have been many historical silver money while also being currencies throughout history, including:

  1. Greek Drachma – an ancient silver coin used in Greece.
  2. Roman Denarius – a silver coin used in ancient Rome.
  3. Spanish Real – a silver coin used in Spain and its colonies during the 16th to 19th centuries.
  4. Mexican Peso – a silver coin used in Mexico during the colonial period and into the 20th century.
  5. Peruvian Sol – a silver coin used in Peru during the colonial period.
  6. British Shilling – a silver coin used in Great Britain and its colonies until the mid-20th century.
  7. French Franc – a silver coin used in France from the 14th century until the 19th century.
  8. Austrian Thaler – a silver coin used in Austria and other parts of Europe from the 15th century until the 19th century.
  9. German Thaler – a silver coin used in Germany from the 16th century until the 19th century.
  10. Russian Ruble – a silver coin used in Russia from the 16th century until the early 20th century.
  11. Chinese Yuan – a silver coin used in China during the Qing dynasty.
  12. Dutch Guilder – a silver coin used in the Netherlands from the 17th to the 19th centuries.
  13. Swedish Riksdaler – a silver coin used in Sweden from the 17th to the 19th centuries.
  14. Swiss Franc – a silver-backed currency used in Switzerland in the 19th and early 20th centuries.
  15. American Morgan Dollar – a silver coin minted in the United States from 1878 to 1904 and again in 1921.
  16. Canadian Silver Maple Leaf – a modern silver bullion coin produced by the Royal Canadian Mint.
  17. Australian Silver Kangaroo – a modern silver bullion coin produced by the Perth Mint in Australia.
  18. Chinese Silver Panda – a modern silver bullion coin produced by the People’s Bank of China.
  19. British Britannia – a modern silver bullion coin produced by the Royal Mint in Great Britain.
  20. Austrian Philharmonic – a modern silver bullion coin produced by the Austrian Mint.
  21. Swiss Thaler – a silver coin used in Switzerland from the 16th century until the early 19th century.
  22. Portuguese Escudo – a silver coin used in Portugal from the 16th to the 19th centuries.
  23. Italian Lira – a silver coin used in Italy from the 16th to the 19th centuries.
  24. Danish Rigsdaler – a silver coin used in Denmark from the 17th to the 19th centuries.
  25. Norwegian Speciedaler – a silver coin used in Norway from the 17th to the 19th centuries.
  26. Hungarian Forint – a silver coin used in Hungary from the 17th to the 19th centuries.
  27. Polish Taler – a silver coin used in Poland from the 16th to the 18th centuries.
  28. Spanish Peseta – a silver coin used in Spain from the 19th century until the mid-20th century.
  29. French Livre – a silver coin used in France from the 16th century until the French Revolution.
  30. Belgian Franc – a silver coin used in Belgium from the 19th century until the adoption of the euro in 2002.
  31. Finnish Markka – a silver-backed currency used in Finland from the 19th century until the adoption of the euro in 2002.
  32. Swiss Franc – a silver-backed currency used in Switzerland in the 19th and early 20th centuries.
  33. Bolivian Boliviano – a silver coin used in Bolivia from the 19th century until the early 20th century.
  34. Chilean Peso – a silver coin used in Chile from the 19th century until the early 20th century.
  35. Colombian Peso – a silver coin used in Colombia from the 19th century until the early 20th century.

In summary, silver can be considered both money and currency, depending on the context in which the term is used. As money, silver has been used as a store of value, a unit of account, and a medium of exchange for thousands of years. As currency, silver can refer to physical silver coins and bars, as well as digital or paper silver used as a means of exchange and a store of value. But when it comes down to it, if you possess it, you own it as the value is not a promise its real and in the hands of the possessor.