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Why was the silver to gold ratio so much lower in Ancient/Medieval times?
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<p>[QUOTE="PeterD, post: 6361080, member: 99287"]In pre-modern times, gold and silver were used to make coins. Therefore metal gave coins their value and coins gave metal their values. Today, this is not true. Metals are valued according to their demand. Therefore gold/silver ratios in historic times is not the same as in modern times. That is to say, the same things aren't being measured.[/QUOTE]</p><p><br /></p>
[QUOTE="PeterD, post: 6361080, member: 99287"]In pre-modern times, gold and silver were used to make coins. Therefore metal gave coins their value and coins gave metal their values. Today, this is not true. Metals are valued according to their demand. Therefore gold/silver ratios in historic times is not the same as in modern times. That is to say, the same things aren't being measured.[/QUOTE]
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Why was the silver to gold ratio so much lower in Ancient/Medieval times?
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