The Silver Series Part 2 - Supply and Demand 

In 2011, there were 1040.6 million troy oz of silver produced.  Of this, 84% was used by industry and the remaining was used as an investment.

Interestingly, traditional uses of silver only account for about a third of silver fabrication.  These include jewelry, coins, medals, and silverware.  Most silver is actually consumed in over 10,000 modern industrial applications.