Silver, like other precious metals, may be used as an investment. For more than four thousand years, silver has been regarded as a form of money and store of value. However, since the end of the silver standard, silver has lost its role as a popular legal tender in many developed countries such as the United States. In 2009, the main demand for silver was for industrial applications (40%), jewelry, bullion coins and exchange-traded products.
Millions of Canadian Silver Maple Leaf coins and American Silver Eagle are purchased as investments each year. The silver maple leaf is legal tender, at $5 per ounce, and there are many other silver coins with higher legal tender values. There are some Canadian silver $20 dollar coins.
Silver is legal tender in Utah, and can be used to pay all debts.
Article Source: en.wikipedia.org
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