Silver News
United States Uses Most Silver for Coinage
in 1995
The United States was
the largest single user of silver for coinage in 1995, 6.7
million ounces, topping Germany and Mexico, according to Modern
Silver Coinage 1995, published by The Silver Institute.
Overall worldwide consumption was down to
23.9 million ounces from a 20-year high of 41.2 million ounces
in 1994. The decrease was expected as Mexico had produced
large numbers of 10 and 20-Peso circulating bimetallic coins
during 1993 and 1994, using record amounts of silver: 12.4
million ounces in 1993 and 13.0 million ounces in 1994. The
coins were minted as part of Mexico's currency reform initiatives.
Mexico consumed only 2.1 million ounces in 1995.
Germany used 6.6 million ounces of silver
for coinage in 1995, a slight dip from the 7.0 million ounces
it used in 1994. U.S. consumption dropped slightly as well,
from 6.9 million ounces in 1994 to 6.7 million ounces in 1995.
Eighty-one countries produced 519 different
coins. China, the sixth largest user nation, again topped
the list of countries that produced the most number of different
coins. China issued 63 silver coins in 1995 compared to 57
different designs the year before. The Isle of Man, the fourth
largest consumer of silver for coins, produced 51 different
coins Portugal issued 25 different silver coins.
Top
10 Silver Users for Coinage in 1995
(Troy Ounces)
|
| United States |
6,727,235 |
| Federal Republic of Germany |
6,619,375 |
| Mexico |
2,049,123 |
| Isle of Man |
1,157,017 |
| The Netherlands |
1,107,872 |
| China, Peoples' Republic
of |
760,541 |
| Canada |
657,684 |
| Marshall Islands |
616,040 |
| Australia |
553,365 |
| Austria |
501,989 |
| All Other countries |
3,101,632 |
| Total |
23,851,873
|
Silver News - October/November 1996
|
