Silver, a prized precious metal in ancient times, served as an important currency unit second only to gold. However, as time progressed, what happened to all that ancient silver? Archaeologists have conducted in-depth studies to uncover the historical reasons behind this disappearance.

The use of silver as currency dates back to the Spring and Autumn period, but it did not become the main circulating currency during the Qin dynasty; rather, gold and copper coins were more commonly used. The widespread circulation of silver as currency truly began during the Han dynasty, where silver coins were circular, holeless, and decorated with dragon motifs, reflecting their high value—one coin could purchase significant amounts of grain.

Although copper and gold coins gradually became the primary forms of currency during the Sui to Tang dynasties, silver re-entered the monetary system during the Tang dynasty. In the Yuan dynasty, the rise of paper money again diminished silver's status. However, during the Ming dynasty, silver regained importance as a civilian currency, and its significance peaked during the Qing dynasty.

Throughout various historical periods, silver was extensively consumed, not only for its currency function but also as burial artifacts for nobility. Additionally, indemnity payments due to unequal treaties resulted in massive silver outflows; particularly, the Qing dynasty’s payment of 980 million taels following the Boxer Protocol marked a significant loss of silver.

Today, although silver is no longer used as a circulating currency, it continues to play an important role in industries such as manufacturing, jewelry, and medicine.