Difference Between Gold and Silver
Even if silver and gold are both used to make elegant ornaments, a lot of differences can be spotted between the two. Another great difference between the two is their value. Gold costs significantly more than silver.
Most traders also prefer gold since it does not rust. It is viewed by many as the ultimate liquid asset; a luxury item even. On the contrary, not many would consider silver as an item of luxury.
Silver is also not as portable as gold since an ounce of gold could equal the value many silver ounces. People tend to prefer carrying an ounce of gold compared to its equivalent of 60 silver ounces.
Another significant difference between the two is tarnishing. Gold does not tarnish, while silver, if one does not pay close attention, does. If not for its tarnishing, silver could very well have been used in photography.
However, silver does have its fair share of advantages. On the earth’s surface, silver in its refined form is rarer compared to gold. It is also much useful than gold in electronics due to its superior conductivity to electricity. So, we can often find silver in batteries, bearings, switches and other electronic devices.
Gold’s desirability lies in its higher value and popularity. Since there is a greater demand for gold, universal law dictates that it must also have the greater value. Banks, interestingly, would rather give loans against gold than against silver. This not only due to gold’s higher value, but also because it is easier to store than the bulky amounts of silver that cost less.