Times When Silver Was More Valuable Than Gold

[WulfrunCoins]

I was listening to a podcast about Tutankhamen the other day and one thing really surprised me is that Ancient Egyptians valued "white metal" (silver) more than gold.

Apparently gold was considered to be the skin of the ancient Egyptian gods, but their bones were thought to be of silver.

Temple inscriptions suggest that for much of Egypt’s history, silver was valued more highly than gold. However, unlike gold, which is known to have been brought from the Eastern Desert and Nubia, the sources of silver were scarce locally and was imported from far away lands such as Asia Minor.

Silver was much closer in value to gold in Ancient Egypt compared to other ancient cultures (1:2 instead of the more typical 1:13), and there were periods when it was considered even more valuable.

[WulfrunCoins]

Any other time periods when silver was more valuable than gold? Or, at least a ratio closer to 1:1?

[Thelonerangershorse]

I seem to remember an article stating that at one time US silver dollars and gold dollars were interchangeable.

 

[WulfrunCoins]

6 hours ago, Thelonerangershorse said:

I seem to remember an article stating that at one time US silver dollars and gold dollars were interchangeable.

 

Another rare occasion when it was 1:1

Shame it's 79:1 today

[erv]

8 hours ago, Thelonerangershorse said:

I seem to remember an article stating that at one time US silver dollars and gold dollars were interchangeable.

 

While the U.S. had a dollar gold coin and a dollar silver coin that were both worth one U.S. dollar, the weight, and size, of the two coins were vastly different.  At no time was gold and silver valued the same in the U.S.

[erv]

here is a comparison of the U.S gold dollar and silver dollar from 1853.

[JohnA1]

12 hours ago, WulfrunCoins said:

Another rare occasion when it was 1:1

Shame it's 79:1 today

I recall the bimetalic standard around Napoleon's time, not 1:1 but at a fixed rate. In the end the French had to stop defending the peg as more silver kept coming from south america

What is the shame with 79:1 today? How much would we be able to hoard if it were 1:1?😉

It's time will come..

Edited July 28, 2023 by JohnA1

[WulfrunCoins]

21 hours ago, erv said:

At no time was gold and silver valued the same in the U.S.

Thanks for clarifying

[WulfrunCoins]

11 hours ago, JohnA1 said:

What is the shame with 79:1 today? How much would we be able to hoard if it were 1:1?😉

You are right, high ratio, good to stack silver

While we'll never get 1:1 ever again (Unless large meteorite full of gold hit planet earth), it would be nice to sometimes get close to 13:1, so we could trade the silver for "cheap" gold

[WulfrunCoins]

On 26/07/2023 at 21:42, WulfrunCoins said:

Silver was much closer in value to gold in Ancient Egypt compared to other ancient cultures (1:2 instead of the more typical 1:13)

Do you guys think the switched on Romans, Greek, Assyrians, etc triggered on to the fact the silver gold ratio was closer in Egypt?

You think they went to Egypt, exchanged the silver for gold, went back home and made a mint?

Ancient form of trading the silver gold ratio

[stefffana]

Gold and silver were mined in ancient times trying to find them as a native element (very rare for silver and more abundant for gold) or as a natural alloy with other elements.

The refining process of gold (native or in ores) was more facile than refining silver without chemicals. Gold was panned/collected in its natural form as sand and nuggets from rivers or panned as concentrates from crushed quarts rocks usually in a high purity. With a cupellation waas easy to increase its purity up to over 22-23ct.

Just imagine how difficult is to extract silver from an odd alloy or ore containing unspecified percentage of zinc, lead, copper, silver, bismuth and another few metals without acids...

This is the reason the ratio was from 1:1 to 4:1.

[Agaupl]

Don’t forget that aluminium also once was more expensive than gold. Napoleon III had a dinner set made out of the rare metal as it was so exclusive. Not like the common gold stuff. 

The Washington monument is even capped with the stuff for the same reason. Apparently the emperor Tiberius was presented a plate of aluminium and then was so worried that this new precious metal would destroy the value of silver that he had the metal smith executed.

And I’m guessing most people know that platinum was originally totally discarded   By the Spanish looking for silver in the new world. Platinum literally meaning little silver (less than silver / fools silver). 

hence when new things come along that look sure fire speculative winners they can quickly disappear to nothing.. at least aluminium still has good use, something don’t even have that !

[Aldebaran]

The Lakota (the Sioux) knew that there was yellow metal in the Black Hills, they simply stated that they had no use for it. They were allowed to keep the Black Hills because they were seen as barren wasteland, when gold was discovered there, the white man reneaged on the agreement in one of most egregious acts perpetrated on these indigenous people.

King Solomon’s Mines were apparently copper mines, the Queen of Sheba had gold, it was a relationship that served their mutual interests.

None of this is about price but it’s precious metals that often seem to dictate actions, good or bad. 

 

[WulfrunCoins]

5 hours ago, Agaupl said:

Don’t forget that aluminium also once was more expensive than gold

It's amazing how perception & opinion could made Aluminium more valuable than gold during the 19th century

Wonder what things people in the future will look back on the 21st century and laugh at us (e.g. The hysteria of climate change)

 

[WulfrunCoins]

5 hours ago, Agaupl said:

Apparently the emperor Tiberius was presented a plate of aluminium and then was so worried that this new precious metal would destroy the value of silver that he had the metal smith executed.

The Roman's didn't mess around when under threat!

Just listened to a podcast about Publius Claudius Pulcher (aka Clodius)

What an absolute Canute! He would make a perfect template for a Hollywood villain

Edited July 29, 2023 by WulfrunCoins

[WulfrunCoins]

3 hours ago, Aldebaran said:

King Solomon’s Mines were apparently copper mines, the Queen of Sheba had gold, it was a relationship that served their mutual interests.

When you get older you realise every relationship is based on some sort of mutual interest

When I was in my early 20s I worked in IT at a hospital and noticed the men above 40 were so cynical; I now understand why 🤔