First published by Money Metals here: https://www.moneymetals.com/news/2018/01/02/investor-changed-silver-market-001354

While silver investors continue to be discouraged about the low price, the market has experienced a fundamental change that needs to be understood. Ever since governments removed silver from official coinage, over 50 years ago, the market has been supplemented by several billion ounces of silver. The majority of that supply has been depleted.