First, we need to find the probability of Jacob choosing a silver dollar from the first bag and a silver dollar from the second bag.
The probability of choosing a silver dollar from the first bag is 5/15 = 1/3 since there are 5 silver dollars out of a total of 15 coins in the bag.
The probability of choosing a silver dollar from the second bag is 2/7 since there are 2 silver dollars out of a total of 7 coins in the bag.
To find the probability of both events happening (Jacob choosing a silver dollar from each bag), we multiply the probabilities:
(1/3) x (2/7) = 2/21
Therefore, the probability that Jacob will choose a silver dollar from each bag is 2/21.