I can try extrapolating a value for you, but due to limited information it may not be accurate. Recycling aluminum is 98% more efficient than manufacturing it from virgin material, and I suspect that recycling silver is similar in efficiency saving. As for absolute savings, we can take a look at how much energy it takes to melt silver. I’m going to convert this to metric to make it easier. Silver’s specific heat is 0.0558 cal/g C and it melts at about 962 degrees C depending on the purity. A pound is 0.45359237 kilograms or 453.59237g. So to find out how much energy it takes to melt silver starting at room temperature (20 degrees C), we take the change in temperature (962C-20C) and multiply it by the mass. Then, we multiply that by the specific heat. This gives us about 23842 calories. If the process was 98% more efficient than manufacturing it from virgin material, we take the amount of energy it takes to recycle and divide it by (1-0.98). This gives us 1192100 calories. After we subtract off 23842 calories, we find that we have saved 1168258 calories.
These calculations are rudimentary at best and there is a chance that I have made errors in the calculations, so I recommend playing with the numbers yourself to find out more. You can find out what you saved in fossil fuel use by converting calories into BTU and using the BTU content of certain fuels to find out how much fuel you saved. BTU content is different for different fossil fuels such as coal, diesel, and gasoline.
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