Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Why was the silver to gold ratio so much lower in Ancient/Medieval times?
>
Reply to Thread
Message:
<p>[QUOTE="Gam3rBlake, post: 6353309, member: 115909"]I was reading an article about Biblical currency and it mentioned that back then (1st century CE) the silver to gold ratio was approximately 16-20 to 1.</p><p><br /></p><p>Meaning for every 16-20 ounces of silver you had in coinage (actual silver content only) you had the equivalent purchasing power of 1 oz of gold in coinage.</p><p><br /></p><p>I believe the Roman gold Aureus had <i>roughly</i> 8 grams in gold content (at that time in the 1st century CE: it was debased over time by different Emperors to raise money) so if you lived back then you would have needed 148-160 grams of silver in the form of Roman silver denarii or some other Ancient currency to match it’s purchasing power.</p><p><br /></p><p>But the article did not explain why it was so low back then.</p><p><br /></p><p>Even 100 years ago the ratio was much much lower than now.</p><p><br /></p><p>$20 in 1923 Peace Dollars contained roughly 16 oz in silver (15.4 ozt to be precise) and they had the exact same purchasing power as a 1923 $20 Gold Double Eagle which was roughly 1 oz of gold.</p><p><br /></p><p>So the ratio was also roughly 16 to 1 as recently as 100 years ago.</p><p><br /></p><p>Now the ratio is approximately 67 to 1 and I’m wondering if there is rhyme or reason behind that?</p><p><br /></p><p>Is it because more silver is being mined and it’s become more plentiful than gold then it was in those days?</p><p><br /></p><p>Or is it just market manipulation of silver prices?[/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 6353309, member: 115909"]I was reading an article about Biblical currency and it mentioned that back then (1st century CE) the silver to gold ratio was approximately 16-20 to 1. Meaning for every 16-20 ounces of silver you had in coinage (actual silver content only) you had the equivalent purchasing power of 1 oz of gold in coinage. I believe the Roman gold Aureus had [I]roughly[/I] 8 grams in gold content (at that time in the 1st century CE: it was debased over time by different Emperors to raise money) so if you lived back then you would have needed 148-160 grams of silver in the form of Roman silver denarii or some other Ancient currency to match it’s purchasing power. But the article did not explain why it was so low back then. Even 100 years ago the ratio was much much lower than now. $20 in 1923 Peace Dollars contained roughly 16 oz in silver (15.4 ozt to be precise) and they had the exact same purchasing power as a 1923 $20 Gold Double Eagle which was roughly 1 oz of gold. So the ratio was also roughly 16 to 1 as recently as 100 years ago. Now the ratio is approximately 67 to 1 and I’m wondering if there is rhyme or reason behind that? Is it because more silver is being mined and it’s become more plentiful than gold then it was in those days? Or is it just market manipulation of silver prices?[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Why was the silver to gold ratio so much lower in Ancient/Medieval times?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...