The decreasing price of gold has gotten a lot of attention among investors in recent weeks. The price of silver has received fewer headlines, but it's also dropped. That price has real economic impact in north Idaho, which has one of the richest silver deposits in the country.
There's not much wiggle room when silver drops down to $22 an ounce. That's only a little more than it costs the Galena Mine near Kellogg, Idaho, to get the silver out of the ground. Owner U.S. Silver has placed a hiring freeze on the mine and plans to cut costs by $1 million this year.