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The 1890s silver price collapse was primarily caused by a combination of overproduction and a decline in demand for silver, particularly after the U.S. government moved away from the bimetallic standard established by the Sherman Silver Purchase Act of 1890. Additionally, the economic downturn known as the Panic of 1893 led to a shift in investor confidence toward gold, further diminishing silver's value. The discovery of large silver deposits, especially in the West, also contributed to an oversupply in the market, driving prices down significantly.

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