'silverite' originates from English, specifically the word 'silver' combined with the suffix '-ite', where 'silver' referred to the metal 'silver' and the suffix '-ite' meant 'follower' or 'supporter'.

'silverite' was coined in the late 19th century in the United States by attaching the suffix '-ite' (used to form partisan or follower labels) to 'silver,' creating a label for supporters of the Free Silver movement; it entered political usage during debates over bimetallism and coinage.

Initially, it meant 'a person who supports free silver (the Free Silver movement)'; over time it became a mostly historical or period-specific political label and is now used chiefly in historical or descriptive contexts.