Silver is a highly versatile industrial precious metal. Over the centuries, silver’s supply, demand and applications have evolved significantly, mirroring advances in economic commerce, science and technology. In fact, industrial and commercial uses over the past 500 years have made it possible to acquire silver in pure bullion format at the lowest premium cost, whether for investment purposes or industrial use.
Getting the cheapest pure silver bullion requires economies of scale. Therefore, larger is better up to the size that a person can handle. The largest silver bullion bar available is the industry standard 1000 ounce silver bar. Since the Industrial Revolution, these large-format bars have been globally accepted as the standard industrial size and the cheapest, most efficient form of pure silver bullion. The evolution of this inexpensive bullion bar’s refining, fabrication and distribution can be seen through six stages of technological advances.
Over the course of 500 years, science and technology have advanced significantly and transformed the supply, demand and overall use of silver. This evolution produced the world’s compact, inexpensive silver bullion format for efficient investing and manufacturing, the 1000 oz silver bar.
| Period (Approx) | Revolution | Energy | Significant Empowerment | Economic Impact | Impact on the Silver Market | |
|---|---|---|---|---|---|---|
| 1400 - 1700 | AoD | Tradewinds | Compass | Trade & Science Globalization | Global Silver Standard | |
| 1760 - 1840 | 1st IR | Coal | Steam Power & Mechanization | Agricultural to Factories | Bullionism | |
| 1860 - 1914 | 2nd IR | Oil & Gas | Internal Combustion Engine | Mass Production | Photosynthesis & Kodak | |
| 1950 - 2000s | 3rd IR | Nuclear | Machine Processing | Industrial Automation Devices | Electronics & Automation | |
| 2010 - 2020s | 4th IR | Renewable | Data Empowered Production | Dynamic Info Drives Industry | Solar & Exponential Electrics | |
| 2020 - 2040s | 5th IR | Wind | AI & Deep Sea AVs | Fuel Green Movement | Efficient Conductivity Needs |
The Age of Discovery, preceding the Industrial Revolution, ushered in globalization and the worldwide Silver Standard, pioneered by Spain. From the 15th to the 18th centuries, advancements like mapping distant lands, utilizing trade winds, developing larger vessels, and widespread adoption of the compass fostered flourishing trade. This period also witnessed significant scientific progress, fueled by the influx of monetary silver from the Americas.
During the First Industrial Revolution, the introduction of steam power and mechanization prompted societies to move from agricultural economies to more factory-based ones. Individual prosperity was not at a level where people could stack away significant amounts of silver. However, governments became more economically powerful and amassed bullion reserves through manufacturing and exporting goods, even though the countries did not have the silver ore as raw materials to mine, which was a practice known as Bullionism.
During the Second Industrial Revolution, which began with the Pennsylvania oil booms in 1859 and the invention of the Internal Combustion Engine in 1860, mass production and technological advancements flourished. In this period, photography was popularized by the Kodak Camera in 1888. Industries became highly dependent on large supplies of silver, which popularized the 1000 oz silver bar as the best size for commerce. The approximate 70 lb, 1000 oz refined bullion bar just made economic sense.
Post-WWII, the Third Industrial Revolution was impacted primarily by machine processing and automation devices. The exponential growth in electronics and industrial automation revealed the limitless types of demand for silver as an indispensable industrial precious metal. Late in the 20th century, digital cameras significantly reduced the demand for silver used in film photography, but other electronic needs filled the void.
Earlier this century, as dynamic information drove industry, data-empowered production marked the Fourth Industrial Revolution. Furthermore, the insatiable desire for power and the drawbacks of fossil fuels are driving us toward the age of renewable energy. Solar panels are at the heart of the green movement, and silver is indispensable for their production.
Today, during the Fifth Industrial Revolution, significant impacts on productivity are artificial intelligence and operational access to the other two-thirds of the earth, the seas. AI will drive economic growth in ways we can only dream of, while technological advances in marine automated vehicles (AVs) are opening access to geography, on and below the seas. Off-shore wind farms are an economic reality as a relatively untapped renewable energy. Electric vehicles, electronics and necessary electric conductivity suggest a monumental impact on the demand for silver as the world’s best conductor of electricity.
In five centuries, mankind has come full circle to the Age of Discovery, harnessing wind as power, mapping, and utilizing the seas for economic advancement. Silver and its most inexpensive 1000 oz silver bar format have been and will be the preferred choice for utilizing silver for industry and efficient investment.
For more information on how to invest in the industrial standard 1000 oz silver bullion bar with Monex, contact one of our Account Representatives today.
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