As the world becomes more interconnected, consumers are learning more about where our goods come from–and sometimes that is leading to uncomfortable realizations. There is a growing movement for ethically produced clothing following the factory collapse in Bangladesh in 2013; locally grown or ethically produced foods are cropping up in your grocery stores; and the Made in America movement is back in bloom. But what about your most durable good? Is your silver ethically produced? Silver production, like other kinds of mining, is a chemical-ridden, dirty, challenging process, and the wealth it produces can be a lightning rod for conflict in dangerous areas. The chemicals used (mostly cyanide, now, but also arsenic) are toxic to the environment and hazardous to workers, and labor safety standards in many countries where silver is found are low or nonexistent. It’s so bad that industrial mining has been called “one of the world’s most destructive industries.” Offenses include child labor, human rights abuses, and poisoning the natural landscape and drinking water. The jewelry industry is now beginning to make strides toward an ethical silver standard, as consumers are increasingly asking about how their pretty baubles are produced. But silver stackers can get in on this trend, too, leaving an impact on the environment and world with their wealth-building practices. The most common method in producing ethical silver takes advantage of silver’s durability and longevity and recycles older silver into new pieces. Until it becomes easier to trace precious metals from start to finish, an investor looking to make ethical buying choices can buy from the following producers:
- Ohio Precious Metals – OPM holds a Responsible Source Refinery Certification, as well as Conflict-Free Certification. All their products are made in the United States.
- NTR Metals – Many of NTR Metals’ products utilized recycled silver.
- Provident Mint – Some Provident Mint products are specifically produced with ethical recycled silver.
Are you concerned about how your silver is produced? Leave us a comment below, or drop us a line on Facebook or Twitter today.
