Sadly, that new world is rapidly encroaching on an already extremely constrained economic environment. At current rates, it's estimated that
by 2028, the earth will have completely run out of economically mineable silver reserves.
Now that may seem seriously overwhelming, and in all honesty, it should, because at present, there are virtually no other known silver reserves. And at current prices, the vast majority of remaining silver reserves both above and below ground are economically unfeasible.
I say above and below ground because silver is one of only a few precious metals yet to be recycled from electronic waste. But, again, this is due primarily to the highly uneconomical extraction costs associated with recycling silver from most industrial/household goods.
Think mobile phones, PCs, tablets, television screens, microwaves, and any other white goods with an on/off switch. You should start to get a perspective of just
how much perfectly usable silver is sitting in dumps across the globe.
But, of course, household tech goods only represent a small portion of silver's extensive industrial applications. With the rise in both EV (electric vehicle) demand alongside photovoltaic energy (solar panels), remaining silver reserves could be teetering precariously on the brink of extinction.