Silver is not a means of payment
Many analysts, who consider the yellow metal to be money, deny this right to the white metal. However, it is wrong. When the United States was founded, the authorities took into account the value of the US dollar to a certain amount of grains of silver which reaffirmed the monetary status of the white metal. Previously, the US dollar was equivalent to 371.25 grains (three quarters of an ounce) of silver. However, later, silver was taken out of circulation and replaced with cheaper metals. At present, silver is not stored in foreign-exchange reserves of some countries and is not purchased by central banks.