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Why was the silver to gold ratio so much lower in Ancient/Medieval times?
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<p>[QUOTE="Colonialjohn, post: 6359611, member: 57741"]Since I do constant archeaometallurgy reading and no more research being retired I did remember these facts. These were written in April 2017 but still are worth noting:</p><p><br /></p><p>From the crustal abundance of precious metals, we can also see that the gold-to-silver ratio in the earth’s crust is about 1:19. This means that there is roughly 19 times more silver than gold in the ground.</p><p><br /></p><p>However, the mining gold-to-silver ratio is about 1:9 – only 9 ounces of silver are mined for every one ounce of gold. The reality from mining is a stark difference from scientific estimates.</p><p><br /></p><p>According to the annual survey reports from Thomson Reuters, there are 71,578 tons of ‘identifiable above-ground’ silver stocks. Compare this to the 187,200 tons of above-ground gold stocks. There is actually lesser identifiable silver than gold above-ground.</p><p><br /></p><p>Despite this, the <a href="https://www.silverbullion.com.sg/GoldSilverRatio" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.silverbullion.com.sg/GoldSilverRatio" rel="nofollow">gold-to-silver ratio</a>, when comparing the prices of both metals, is about 1:70 at the time of writing. In other words, the value of an ounce of gold is equivalent to 70 ounces of silver!</p><p><br /></p><p>As mentioned previously:</p><p><br /></p><p><b>Gold is Hoarded While Silver Is Used</b></p><p><br /></p><p><img src="https://www.silverbullion.com.sg/Uploads/vincenttie/gold-hoard-2.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p><i>Gold is hoarded...</i></p><p><br /></p><p><br /></p><p>Studies have shown that 98% of all gold mined throughout history is still hoarded in the form of coins, bars, jewelry or artifacts.</p><p><br /></p><p>However, this is different for silver.</p><p><br /></p><p>Silver continues to be a popular choice in industrial applications given that it is the best element to conduct heat and electricity. This gives silver a myriad of uses.</p><p><br /></p><p>It is no wonder that silver can be found in thousands of products: printed circuit boards in computers and mobile phones, batteries, electronic switches, solar panels, television screens, RFID chips, etc.</p><p><br /></p><p>Silver is also used as an antimicrobial agent in medical applications. Its applications include silver being incorporated into wound dressings, treatment of mercury poisoning, used as a cauterizing agent, etc.</p><p><br /></p><p>Unfortunately, these industrial and medical uses of silver in products also see a large quantity of silver being discarded when these products are used and thrown away. They end up in landfills and are deemed uneconomical to recycle.</p><p><br /></p><p>It is no wonder then that there is less silver than gold above-ground today.</p><p><br /></p><p>A better discussion is knowing and buying 19thC Spanish Isabel II 2 Escudo contemporary circulating counterfeits with platinum as the debased metal in this Au/Pt/Trace Ag mixed alloy. Why was Pt used as a debased alloy in the 1800's? What two countries are known for mining Pt in the 1800's? Now correlate all this information to answer this question. What country was producing these 2 Escudo Au/Pt/Trace Ag CCCs?</p><p><br /></p><p>John Lorenzo</p><p>Numismatist</p><p>United States[/QUOTE]</p><p><br /></p>
[QUOTE="Colonialjohn, post: 6359611, member: 57741"]Since I do constant archeaometallurgy reading and no more research being retired I did remember these facts. These were written in April 2017 but still are worth noting: From the crustal abundance of precious metals, we can also see that the gold-to-silver ratio in the earth’s crust is about 1:19. This means that there is roughly 19 times more silver than gold in the ground. However, the mining gold-to-silver ratio is about 1:9 – only 9 ounces of silver are mined for every one ounce of gold. The reality from mining is a stark difference from scientific estimates. According to the annual survey reports from Thomson Reuters, there are 71,578 tons of ‘identifiable above-ground’ silver stocks. Compare this to the 187,200 tons of above-ground gold stocks. There is actually lesser identifiable silver than gold above-ground. Despite this, the [URL='https://www.silverbullion.com.sg/GoldSilverRatio']gold-to-silver ratio[/URL], when comparing the prices of both metals, is about 1:70 at the time of writing. In other words, the value of an ounce of gold is equivalent to 70 ounces of silver! As mentioned previously: [B]Gold is Hoarded While Silver Is Used[/B] [IMG]https://www.silverbullion.com.sg/Uploads/vincenttie/gold-hoard-2.jpg[/IMG] [I]Gold is hoarded...[/I] Studies have shown that 98% of all gold mined throughout history is still hoarded in the form of coins, bars, jewelry or artifacts. However, this is different for silver. Silver continues to be a popular choice in industrial applications given that it is the best element to conduct heat and electricity. This gives silver a myriad of uses. It is no wonder that silver can be found in thousands of products: printed circuit boards in computers and mobile phones, batteries, electronic switches, solar panels, television screens, RFID chips, etc. Silver is also used as an antimicrobial agent in medical applications. Its applications include silver being incorporated into wound dressings, treatment of mercury poisoning, used as a cauterizing agent, etc. Unfortunately, these industrial and medical uses of silver in products also see a large quantity of silver being discarded when these products are used and thrown away. They end up in landfills and are deemed uneconomical to recycle. It is no wonder then that there is less silver than gold above-ground today. A better discussion is knowing and buying 19thC Spanish Isabel II 2 Escudo contemporary circulating counterfeits with platinum as the debased metal in this Au/Pt/Trace Ag mixed alloy. Why was Pt used as a debased alloy in the 1800's? What two countries are known for mining Pt in the 1800's? Now correlate all this information to answer this question. What country was producing these 2 Escudo Au/Pt/Trace Ag CCCs? John Lorenzo Numismatist United States[/QUOTE]
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