The terms silversmith and goldsmith are not exact synonyms, as the techniques, training, history, and guilds are (or were, at least) largely the same but differed in that the end product may vary greatly (as may the scale of objects created).
In the ancient Near East (as holds true today), the value of silver was lower than the value of gold, allowing a silversmith to produce objects and store them as stock.
Historian Jack Ogden states that, according to an edict written by Diocletian in 301 A.D., a silversmith was able to charge 75, 100, 150, 200, 250, or 300 denarii per Roman pound for material produce.
At that time, guilds of silversmiths formed to arbitrate disputes, protect its members' welfare, and educate the public of the trade.
Very exquisite and distinctly designed silverware, especially the artisanal craft that goes by the name of Swami silver, emerged from the stable of watchmaker-turned-silversmith P.Orr and Sons in the South Indian city of Madras (now Chennai) during the British rule in 1875.