Silver Wheaton (NYSE:SLW), Pan American Silver (Nasdaq:PAAS), Coeur d'Alene Mines (NYSE:CDE) Crushed on Gold, Silver Price Plunge

The drop in the price of silver wasn't near as scary as the drop in the price of gold, but it had a more dramatic effect on silver companies like Silver Wheaton (NYSE:SLW), Pan American Silver (Nasdaq:PAAS) and Coeur d'Alene Mines (NYSE:CDE), who took a beating Tuesday.

When measured by percentages, spot silver plummeted by 4.2 percent, worst than the 2.6 percent drop of spot gold, which fell to $1,377.80 an ounce.

Some of this was assumed and asserted to be the result of an alleged strengthening recovery, but in reality was more related to investors taking some profits after a big year in 2010.

Coeur d'Alene Mines closed Tuesday in New York at $25.74, losing $1.71, or 6.23 percent. Pan American Silver closed at $39, dropping $1.75, or 4.29 percent. Silver Wheaton ended the session at $36.64, down falling $1.94, or 5.03 percent.