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Gold silver investing ratio
If one goes back a little further in this data series, to around the end of the 17th century , a median value of 15 can be determined for the gold-silver ratio. This number is also much closer to the ratio of the respective stocks of each metal which are physically present in the natural world. In comparative terms, it is estimated that silver is roughly 20 times more abundant in the earth than gold.
Antiquity and bimetallism It is documented that during antiquity gold was considered to be worth around 12 to 13 times as much as silver. According to some historians, this persistent value relationship could have been the result of astronomical observations concerning the locations and inter-relationship between the sun and moon in the heavens.
And even today, gold is associated with the sun, while silver is regarded as the moon metal. It is very interesting to note that the orbits of the moon and the sun are actually in a ratio of , in other words about This is perhaps one important reason why a gold-silver ratio of around 13 should have remained constant for so long throughout antiquity.
Bimetallism a system in which gold and silver money are both legal tender is also likely to have orientated itself to this same value, the ratio being mostly somewhere between 10 and During the heyday of bimetallism from the 18th to the 19th century both gold and silver coins were minted.
These two precious metals circulated side by side and their gold-silver ratio was fixed — in other words, there was a set exchange rate between gold and silver to simplify transactions. In reality, this kind of governmental fixed price arrangement repeatedly leads to a situation where one of the precious metals is overvalued — mostly gold. Thus it seems the inevitable consequence of any government setting a gold-silver ratio is that it almost always leads to a distortion of the market.
The evolution of gold and silver as a means of payment is strongly linked to the US dollar. Silver was finally demonetized in the USA in , which meant that no further silver coins could be minted. And the fact that silver has historically been officially demonetized against gold perhaps offers a plausible explanation as to why the current gold-silver ratio is very much higher than it was in antiquity. Summary: Gold has always been regarded as the big brother of silver. The gold-silver ratio is the key figure which shows the market relationship between the price of gold and the price of silver.
For the past 50 years since the gold standard was abolished in , the average gold-silver ratio has worked out at a little over A gold-silver ratio of 12 to 13 is documented for antiquity, which according to some historians can be traced back to the natural moon-sun cycle. Silver was finally demonetized in the US in Among other things, this is seen as an explanation for the current gold-silver ratio, which is far higher today than it was in antiquity.
Both rulers and subjects invariably chose to clip, mint or forge debased alloy coins in silver, but not gold. Throughout history, silver was mainly the medium of retail and domestic trade, with gold used in wholesale and foreign trade, and also to store out-sized wealth. Thirdly, and even with full-weight coins of the correct fineness, the local supply, demand and flow of bullion meant that the ratio in one country would differ from that of its neighbours.
Rinse, repeat and slowly drain that precious metal from one place to another for profit. The late 17th century found England facing a crisis from all three problems. By , the bullion content of coins in circulation was barely half what it should have been, risking monetary and economic collapse.
Time to call in the magician. His pall bearers included two dukes, two earls and the Lord Chancellor. Yet, Newton had been almost penniless when, already the most famous mind in Europe, he reached 50, hit burn-out and, following the death of his mother, suffered a mental breakdown lasting two years. The six previous Wardens had barely turned up for work, delegating everything to their clerks while collecting a salary worth something today between that of the Prime Minister and a deputy governor at the UK central bank.
But unlike his predecessors, the mathematician and physicist threw himself into the task, no doubt relishing the work because he also happened to be a keen alchemist. But of the 10 million words Newton left in manuscript, according to historian Sarah Dry, roughly three million relate to science and maths, half are on religion and one million words are on alchemy — secret codes, arcane symbols, occult figures, the lot.
The number of executions for coinage crimes in London fell from 19 in , the year that Newton joined the Mint, to zero in Looking to fix this problem, Newton wrote in his report on the state of the gold and silver coins of 21 September that while a Guinea was worth 21 shillings and 6 pence in England, the relative value of gold to silver would price it at about 20s 9d in Spain or Portugal, and lower again in France.
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