Silver only spawns on really tall mountains. When you see obsidian and stone golems, then start looking for it. Smacking the ground with a stagbreaker and looking for "Too Hard" messages is an alternative way to find it too.

I've done a number of different playthroughs, partly because I wanted to try permadeath, and yes, each start is a bit different. You can also mix up your playstyle to make it more interesting.

Or you could just put it on the shelf awhile and come back later when you get bored with other games. It will still be here.