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Was Gold undervalued or was Silver overvalued in Ancient times?
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<p>[QUOTE="PeterD, post: 7654896, member: 99287"]The gold/silver ratio that we ponder over was related specifically to coins, not the ‘free-market’. The GSR is calculated as the ratio of the value of equal weights of coins. For example, (weight of Aureus) x (rate (25)) / (weight of denarius). Consider that between the reigns of Augustus and Septimius Severus, the silver in the silver coins virtually halved. If all else remained the same, the GSR would have halved. Presumably the exchange rate did not remain fixed and gold coins would have had to be bought from the mint, or dealers.</p><p><br /></p><p>In modern times there is no direct link between gold and silver. They are just two separate bullion markets, their values dictated by demand.[/QUOTE]</p><p><br /></p>
[QUOTE="PeterD, post: 7654896, member: 99287"]The gold/silver ratio that we ponder over was related specifically to coins, not the ‘free-market’. The GSR is calculated as the ratio of the value of equal weights of coins. For example, (weight of Aureus) x (rate (25)) / (weight of denarius). Consider that between the reigns of Augustus and Septimius Severus, the silver in the silver coins virtually halved. If all else remained the same, the GSR would have halved. Presumably the exchange rate did not remain fixed and gold coins would have had to be bought from the mint, or dealers. In modern times there is no direct link between gold and silver. They are just two separate bullion markets, their values dictated by demand.[/QUOTE]
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