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« Understanding Global Monetary Policy: And How to Profit From It | Main | Concerns over the sale of Australia's largest silver mine near Cobar »
Monday
Nov032014

Nevada: The Land of Silver

Silver mining has a long, storied history in Nevada, and to this day the state’s silver deposits remain economically important. So much so that Nevada is nicknamed “the Silver State.”


According to the Nevada Mining Association, Nevada’s silver deposits led the way to it joining the United States, as they drove the economy and the development of settlements. Indeed, silver and gold were involved in the state’s first mining boom from 1849 through the 1880s, and then in the resurgence of mining activity at the beginning of the 20th century.

Much of the silver discovered in Nevada during the first mining boom was present at surface in heavy grey crusts known as horn silver; miners could simply scoop it off the ground. The resource in this form is now depleted — miners quickly had to turn to tunneling underground — but silver still abounds in Nevada. Currently, the state is the second-largest producer of silver in the US after Alaska, according to the US Geological Survey.


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