Story Notes: Disclaimer: I am not a werewolf, nor do I have any fears concerning silver.
JKR mentions in Pottermore that silver does not affect werewolves. However, since most fiction uses this component, it is likely that Remus would believe those fictions and create an irrational fear towards silver.
This was meant to be written for the Rainbow Challenge (which is why color is so prominent in the story). A year or so later, here it is. :D
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