We’re all familiar with silver in the form of jewelry, silverware, and coins, but it also has many other common uses in industries across the world – and much of its value is tied to this widespread usability.

Silver is often described as the “world’s most indispensable metal,” as it is highly conductive, malleable, and ductile, in addition to having low resistivity. Silver can be flattened into fine sheets, drawn out into thin, flexible wires, and even formed into pastes, making it extremely versatile and useful in applications ranging from clothing to appliances and everywhere in between.

Because of this high usability, the global economy has a significant impact on the demand for silver. And as production increases, the price of silver typically does so, as well.

Here are five real-world applications for silver that help make it one of the most popular and valuable precious metals on the planet.

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Whether you’ve recently inherited some antique silverware or are looking to get rid of those pieces that have been collecting dust in your china cabinet for years, there’s a chance you may be able to fetch a fair amount for it. But how much your silverware is worth depends mostly on one thing: Is it sterling silver or silver-plated?

Here is a breakdown comparing sterling silverware to its most common silver substitutes, as well as a few tips on how to tell if your silverware is real sterling silver or not.

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