I would think that the lack of density - compared to an equal volume of lead - would cause them to tumble more readily than the lead counterpart.
Basically they'd need to be somewhat longer to make up for that, in order to get the desirable sectional density. On the other hand silver is much stronger than solid lead and could be loaded to the same pressure and velocity as jacketed bullets without stripping in the rifling like solid lead, and would not deform any more than FMJ in feeding through an auto, so it would have certain advantages over solid lead if it were as cheap. It would also make great jacket metal, again aside from price vs. the cupro-nickel alloys normally used.
The biggest problem with it would be making the silver bullets in the first place, you could end up with a steel bullet mold solidly silver-brazed together pretty easily, you would pretty much have to cast rough ones in clay, sand, or investment and then swage them to final dimension.