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Why was the silver to gold ratio so much lower in Ancient/Medieval times?
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<p>[QUOTE="Gam3rBlake, post: 6368516, member: 115909"]I have a book on coinage & currency in the Roman Empire and one thing I know for sure is that:</p><p><br /></p><p>1 oz of gold was NOT the value of a slave.</p><p><br /></p><p>I will look into it but I believe it says in the 1st century (biblical times) under Augustus the value of a slave was between 15000-25000 Denarii depending on age & gender. Young women were a premium due to being fertile and because any babies they had were automatically slaves of the mother’s owner. Young men also earned a premium for being in their prime for doing physical labor.</p><p><br /></p><p><br /></p><p>I’m not quite sure how many ounces of gold that would be but I can quickly do the conversions and I know it’s more than 1 oz of gold in gold Aureii.</p><p><br /></p><p>I believe it was ~100 oz of gold.</p><p><br /></p><p>Today that would be $200,000 in gold.</p><p><br /></p><p>Slaves were VERY expensive.</p><p><br /></p><p>[ATTACH=full]1252099[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 6368516, member: 115909"]I have a book on coinage & currency in the Roman Empire and one thing I know for sure is that: 1 oz of gold was NOT the value of a slave. I will look into it but I believe it says in the 1st century (biblical times) under Augustus the value of a slave was between 15000-25000 Denarii depending on age & gender. Young women were a premium due to being fertile and because any babies they had were automatically slaves of the mother’s owner. Young men also earned a premium for being in their prime for doing physical labor. I’m not quite sure how many ounces of gold that would be but I can quickly do the conversions and I know it’s more than 1 oz of gold in gold Aureii. I believe it was ~100 oz of gold. Today that would be $200,000 in gold. Slaves were VERY expensive. [ATTACH=full]1252099[/ATTACH][/QUOTE]
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Why was the silver to gold ratio so much lower in Ancient/Medieval times?
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