Why Silver Could Replace The Dollar

Silver used to be a significant part of the monetary base in many countries. You could find it as part of monetary reserves together with gold, as well as coinage in circulation. Over the years that silver was demonetized (at least from the 1870s to roughly the 1960s), significant amounts of silver coins (official currency coins) were melted down and sold on the markets, together with silver bars (used as reserves). This brought us to today, where the amount of silver that is part of the monetary base is basically immaterial.