This is a really neat video where Charlie Lee, shares how he created Litecoin. Charlie talks about making it similar to bitcoin so that it could leverage the future work that went into bitcoin because the code base is similar. He also talks about how he wanted to make it fair because there were a lot of premining of new altcoins at the time.
The “litecoin is the silver to the bitcoin gold” was a great marketing ploy that worked. Being copper or another precious metal just doesn’t have the same ring. Well worth a watch.