No expert here, but read a bit about this. The Jesuits started this trend by giving copper and silver rings in exchange for religious conversion and sometimes for goods exchange. Much later, the HBC and North West Fur Trade Company would trade rings, beads, musket balls, muskets, blankets, axes, etc, in exchange for fur pelts. The north and east tribes liked very much these ornaments for their women and the men prefered silver as it was worn to chase bad luck, demons and so and also show their status. I believe both companies were fighting for the biggest part of the pie and were trying to find the coolest ornaments and items to please the tribes and ensure long term exchanges.