Silver has attracted man's interest for thousands of years. In ancient times, silver deposits were plentiful on or near the earth's surface. Relics of ancient civilizations include jewelry, religious artifacts, and food vessels formed from the durable, malleable metal.
In 1792, silver assumed a key role in the United States monetary system when Congress based the currency on the silver dollar, and its fixed relationship to silver. Silver was used for the nation's coinage until its use was discontinued in 1965.
At the turn of the century, an even more important economic function was emerging for silver, that of an industrial raw material. Today, silver is sought as a valuable and practical industrial commodity, and as an appealing investment. The largest industrial users of silver are the photographic, jewelry, and electronic industries.
Silver futures, COMEX Division of New York Mercantile Exchange, symbol SI. Minimum Tick Size: $0.005 per troy ounce, worth $25.00 per contract.
Electronic trading is conducted from 6:00 p.m. U.S. ET until 5:00 p.m. U.S. ET via the CME Globex® trading platform, Sunday through Friday.
Primary silver futures contracts are March, May, July, September, and December. Other months also trade, but with lesser volume and open interest.