Accessory? Color? Or probably those shimmering Christmas balls?

Students who have studied chemistry may try to boast that its chemical symbol is Ag. But what really is silver?

Silver is a very ductile metal, which means it is a good electricity conductor. In fact, among all metals, it is the most electrically conductive–even more so than copper. But because it’s more costly and prone to tarnishing, its electrical purposes have been deterred. It’s also malleable, which means it can be bent, though it’s a little harder than gold. It has brilliant white metallic luster and can take a high level of polish.

Apart from being a popular accessory, silver has other uses thanks to its precious metal properties. To this date, there are still many countries that make use of silver as part of their respective currencies.

Silver is also used in award medals which symbolizes second in rank, with gold as the first in rank of course. And though it’s a poor second to gold, silver is still valuable. In fact, many people, especially the younger generation, prefer silver to gold as jewelry because of its color. It may not be as pricey as gold, but there’s no question that it’s just as elegant.

The price of silver per ounce is determined through the gold/silver ratio which is often analyzed by traders, investors and buyers. The American law fixed the gold/silver ratio in 1792 at 1:15; one troy ounce of gold would buy 15 troy ounce of silver. These days, the current price of silver per ounce is determined by the private and institutional investors. Industrial demand also affects the price of silver per ounce because in the recent years, the use of silver items is increasing as its viable uses in batteries, superconductors and microcircuits are being explored.

Silver price is affected by many things, one of which is demand. For instance, the year 2001 saw an increase in the demand of silver because it was being used in manufacturing electronics.  This increase in the use of silver for industrial purposes had a significant impact in silver price.   Large institutional investors also have a hand at increasing or decreasing the value of silver. So to be safe, read up a lot before making a decision. Current price of silver per ounce can be viewed in great websites like CNN Money or in other business newsletters.

You must also study the many ways in which you can invest in silver.  This can be through bars, coins and even certificates.   If you do not want to physically store silver in your safe, you can secure certificates of silver ownership.  Again, be sure to be cautious in doing this. There is a government guaranteed institution out there, which is the safest place to get certificates for silver – Perth Mint Certificate Program.  Some big ticket investors also opt to invest in mining companies that dig up silver.

Finally, before spending money on precious metals, you must find out how these are taxed, which may differ from country to country. The key really is to do research and be smart about your investments. The current price of silver per ounce and other facts about it can be easily researched.  The same goes for gold.