Silver, like other
precious metals, may be used as an
investment. For more than four thousand years, silver has been regarded as a form of
money and
store of value. However, since the end of the
silver standard, silver has lost its role as a
legal tender in all
developed countries, although some countries mint
bullion and collector coins like the
American Silver Eagle with nominal face values. In 2009, the main demand for silver was for industrial applications (40%),
jewellery,
bullion coins and
exchange-traded products. In 2011, the global silver reserves amounted to 530,000 tonnes.