Category Silver’s Last Strongholds: Asia and Latin America

As Europe and North America transitioned to the gold standard in the late 19th century, the global demand for silver plummeted, causing its price to collapse. This had severe economic consequences for nations that remained on the silver standard, particularly…

By the late 19th century, most of Europe and North America had abandoned silver in favor of the gold standard, marking the end of bimetallism in the industrialized world. However, China, India, and Mexico—three of the largest silver-consuming economies—remained on…