Silver had a strange year. After three years of investors quietly walking away from the physical market, 2025 saw them come back. Not in a trickle, but in a rush concentrated into the final four months, as prices ripped through one record after another and dealers started rationing inventory.According to the World Silver Survey 2026, global coin and net bar demand jumped 14% to 217.7 Moz in 2025, the first annual increase since 2022.