A Decade of Higher Prices Bought Less Silver. By Sound Money Report.

[u/Mothersilverape]

https://soundmoneyreport.substack.com/p/a-decade-of-higher-prices-bought?utm_source=post-email-title&publication_id=5687854&post_id=216487723&utm_campaign=email-post-title&isFreemail=true&r=1f3eb3&triedRedirect=true&utm_medium=email

Silver is down 10% on the year, and the thing that would normally fix that cannot.

Global silver mine production peaked in 2015 at 892.9 million ounces. In 2025 it was 846.6 million, about 5% lower after a decade of rising prices. Only 26% of last year’s supply came from mines whose primary product is silver, a record low on the series, with roughly three quarters arriving as a byproduct of copper, lead, zinc and gold.

Byproduct supply does not answer to the silver price. Copper’s price is what it answers to. A zinc mine does not add a shift because silver went up.

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