Traders and investors have long used silver to diversify their portfolios. It’s an excellent store of value, and unlike stocks or currencies, it doesn’t depreciate based on inflation or investor sentiment. This makes it an ideal hedge against economic uncertainty. Silver is also highly conductive and rust resistant, making it an important material in the production of technology and medical equipment. But there’s one aspect of silver that many people don’t know: It has a rich history as a form of barter.
Fur traders began using silver items to barter for pelts with the Indigenous peoples they encountered during their travels in North America from the mid-17th to early 19th centuries. Among the first items traded were medals and military gorgets, which served as symbols of rank and authority presented by French, British, Dutch and Spanish traders to their Indigenous allies. In later years, silversmiths and Indigenous makers created a variety of ornamental pieces that came to be known as trade silver.
Some of the earliest trade silver was made by goldsmiths, pewtersmiths and clockmakers from France, England, Scotland, and the colonies, and by Native Americans themselves. But as the demand for trade silver increased, so did the number of craftsmen who made it. While earlier patterns were influenced by European styles, trade silver makers became increasingly innovative with the designs they used, including hearts, crosses, Masonic symbols and a small number of mythical animals.
Trade silver was also a popular choice with traders because it was relatively easy to carry and transport in the wilderness. Unlike coins, which were often large and cumbersome to handle, trade silver was light, and could be easily hidden inside clothing. This was especially helpful to traders who traveled through hostile regions of the continent, where they would have been vulnerable to attack.
The popularity of trade silver grew as fur silver trader expanded westward and the supply in Europe was reduced due to the opening up of sea routes. As the demand for silver increased, a new generation of trade silver artisans emerged in the American Southwest and elsewhere, and their work helped to shape the style and iconography of this important category of jewelry.
Today, there are only a handful of silversmiths still producing trade silver. Silversmith Chuck Leonard of Jackson, Michigan, says he became interested in the craft after fielding a request from a man involved in competitive flintlock rifle shooting who wanted trade silver to complete his 1700s period dress. Leonard did some library and museum research, and has now been producing trade silver for 34 years. He has a diverse range of clients, from people looking to add historical flair to their home décor to those who need a unique piece for a special occasion. All of Leonard’s trade silver is fully allocated, meaning that he holds legal title to the physical bullion underpinning each coin. This is a significant difference from unallocated silver products such as ETFs, which can leave you susceptible to market fluctuations and liquidity concerns. To find out more about silver trading market visit https://www.virginiagoldbuying.com/silver-dealer-richmond-va/.