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Silver Update / collection / Investing – Buy Silver while there is still some left in 2009
Silver Facts – All the silver ever mined to date would fit into a 55 metre cube!! out of all that silver mined to date 99.2% of all that silver has been consumed and sent to a landfill. Silver is a lot scarser than you may think.
(EST) Only 500 Million ounces of silver left out of 56 Billion ounces
SILVER:
1 cubic centimeter = 10.5 grams
1 cubic inch = 5.5326 troy ounces
1 cubic foot = 9,549 troy ounces
1 cubic meter = 10,500 kilograms = 10.5 metric tonnes
All the silver ever mined (est.) = a 55 meter cube = 166,375 cubic meters = 56 billion ounces
Refined silver today (est.) = an 11.38 meter cube = 1475.6 cubic meters = 500 million ounces
Comex reserves = 454 cubic meters = 153.26 million ounces
GOLD:
1 cubic centimeter = 19.3 grams
1 cubic inch = 10.16946 troy ounces
1 cubic foot = 17,572.834 troy ounces
1 cubic meter = 19,300 kilograms = 19.3 metric tonnes
All the gold ever mined (est.) = a 22 meter cube = 10,648 cubic meters = 6.6 billion ounces
Silver/Gold mined ratio = about 8.5
NOTE: Nearly all the gold ever mined is still in somebody’s possession. Even if we increase the estimate of refined silver by ten times, there is still more refined gold than refined silver!
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