I recently read with interest that at the height of it's power. The Roman Empire paid it's soldiers an average salary of 250 denarius per year. Basically one denarius per day excluding days of rest. The weight of the silver denarius during the reign of Julius Caesar was around four grams so this roughly equates to $4 per day in today's money. Things were also expensive. A soldier was expected to pay for, and maintain his own fighting equipment. A small sack of wheat was said to cost one quinarius (1/2 a denarius). At the completion of service a soldier was paid a 3000 denarius bonus or a plot of good land. If you managed to survive that is. It certainly brings our present good fortune into perspective. We are ultra rich in comparison to the people of these times. http://www.forumancientcoins.com/numiswiki/view.asp?key=denarius
But we can't pillage (with permission of the commander in chief of course) - unless you're a banker that is.
I like how 3000 denarius or a block of land. From wikipedia, a Denarius is 1/10 troy ounce. So 300oz. Whats ablock of land worth today? If we say $500,000 for a median house in Australia, that puts silver at $1670/oz. Obviously houses would fall and silver rise and they would meet somewhere i the middle. Maloneys call for a house at 500oz doesnt seem to far off looking at those quick figures.
though an average block of land is probably more like $300,000 without the house changing your figures a little. The general idea still stands though.
LOL - Might be a few takers here. Was listening to Internet Radio yesterday, a TSA agent is in court, His wife went on an overseas trip, after she left he stuck her on the "No Flight" List. She was stuck in india for 3 yrs.
To put it in perspective, in 1980 my parents average home in Sydney was around 600oz (hunt brothers highs). Give it benefit of the doubt and that $30 should be the price of silver at that time. That is still 1000oz. I am hoping that it returns back to that range, or maybe in the 1000-2000oz to purchase a property outright. For this to happen, assuming prices don't completely tank. If house prices are 500k, then the price of silver needs to be at $500 for that median house. If it takes 2000oz then the price of silver needs to be $250. We don't know if silver will ever get to $500 per oz, If it does then gold could possibly be around the $7500 price (15:1). My goal is, if we ever get to 1000oz for a block of land (house) or a retail shop in the city. I'd take that trade. I just hope this happens in the next 2-5 years. Slam Edit: Sad thing is, they serviced and bought it on 3x Single income. Right now it would take me 8x Single income to buy the same house. I just hope I can achieve the same wealth as them. Hopefully this investment of the century/lifetime works out for us all =D.
If I was just an average Roman hell yes I would enlist to be in legion, even if the pay was poor. Being a soldier gave you the opportunity for upwards mobility in society. In the lower rank levels promotions were given based on merit. If you were a good soldier, and you survived your term of service you would likely be of some rank by the end, possibly a Centurion (leader of 100). Of course with higher rank= more pay, and you began to move up in standing within Roman society. Then upon your retirement you have your savings, plus your plot of land. With careful managment not only would you be able to live comfortably, but your children would be set up to climb the social ladder once again in their lifetimes. And of course once you start playing with the high rollers more opportunity comes your way... that just doesnt happen with the peasant rabble
Then our present Legionnaires fair extremely well in comparison to their historical cousins. For example, if you get paid $100k in combat service as a soldier in the Australian Army, that equates to roughly 3333 oz's of silver at today's price. That equates to almost 17,000 Denarius. An absolute fortune it would seem to a Roman soldier who got paid one denarius per day. Also, you have all your meals supplied, your uniform, your weapons and your service pension at the end. We've certainly got it good at the moment.
Keep in mind that in Ancient Rome Land was plentiful.... what with pretty much the entire globe unexplored (by westerners)
the statistics say 2 billion people on this planet live on $2 a day or less - thats about $730 a year and close to death by starvation through no real fault of their own
Wasn't at the fall of roman empire, the soldiers refused to be paid by roman coins because of rampant inflation. Instead they were paid by pound of salt (Salerium). That's where we got the word "Salary".
I dont care what it rises to unless it doesnt crash. I'd prefer to hold on to some of my collection for the next 50 years rather than trade it all for a house.
Yep. I agree. Easy to cash silver later on for stuff..harder to cash in bricks and mortar..they prefer to be left in place.
