It may seem counter-intuitive,Â as there is less availability of gold in any given mine than there is silver, but considering that silver is used in everything from electronics to medical technology, it may not be out of the question to suggest that silver is actually becoming more rare than gold.
In 1950 there were 10 billion ounces of above-ground available silver. By 1980 it shrank to 3.5 billion ounces. And, in 2012 it is estimated that above-ground available silver supply is 1 billion ounces.
To put this into perspective, total above ground available gold in 1950 was about 1 billion ounces and today it’s estimated to be around 6 billion ounces.
Watch:Â The Fundamentals for Owning Silver in 2013