Gold/silver ratio

sgbuyer said:
Previously, I did a comparison of the amount of rice that silver could buy in China during the 19th century vs today and came up with $28 silver. :D
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The Dollar used to be defined as 1.604 grams of gold and 24. Something grams of silver.
 
sgbuyer said:
Previously, I did a comparison of the amount of rice that silver could buy in China during the 19th century vs today and came up with $28 silver. :D
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So, how much rice could be bought in China an ounce of silver back in the 19th century?

I could do my own calculations (after making a list of rice prices locally - some cost double, others triple, they're branded as well... hmmm it's like the difference between minted silver bars and cast silver bars :D ).
 
TreasureHunter said:
So, how much rice could be bought in China an ounce of silver back in the 19th century?

I could do my own calculations (after making a list of rice prices locally - some cost double, others triple, they're branded as well... hmmm it's like the difference between minted silver bars and cast silver bars :D ).
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There are different calculations. Someone says 1 tael buys 35kg of rice. 1 tael is 1.21528 troy ounce, so 1 ounce buys 28.80kg of rice.

https://www.quora.com/How-much-woul...e one did that conversion,to buy 35kg of rice).
 
Apparently in the Roman empire a man's labour for one day earned him one silver denarius. 1/10th of an ounce of silver. So today in Australia you get about $200.00 AUD for a days work. So $2000.00 AUD per ounce of silver.
 
wrcmad said:
And that's why manufacturing is nearly dead in Australia.
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Dodgy visas, unsustainable immigration, piss poor foreign policy, economic management and a thirty year long attack on what was typically seen to be a fundamental supporter base of the Labor party is the reason why manufacturing has left this country. Wages have stagnated for 30 years and inflation adjusted manafacuring jobs pay half of what they did 50 years ago. Germany, America, France, Korea, Sweden, Japan and Canada all are first world countries with high wages and strong manufacturing
 
SouthCoastSilver said:
Dodgy visas, unsustainable immigration, piss poor foreign policy, economic management and a thirty year long attack on what was typically seen to be a fundamental supporter base of the Labor party is the reason why manufacturing has left this country.
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Good story bro.
But that makes absolutely no sense to me.
 
GSR For Kangaroo coins from The Perth Mint are as follows:

1oz Gold Kangaroo = $2647.74AUD
1oz Silver Kangaroo = $31.29AUD

$2647.74 divided by $31.29 = 84.6

GSR is about 84.6


GSR For Kangaroo coins from APMEX are as follows:

1oz Gold Kangaroo = $1856.19USD
1oz Silver Kangaroo = $24.72USD

$1856.19 divided by $24.72 = 75.09

GSR is about 75.09
 
Thats an interesting perspective HoldFast however when you do the math, it looks like the Silver Kangaroos are just way overpriced in the US ($35.90 AUD)
 
But you do raise an interesting point, comparing american eagles gold vs silver.

1 x 1oz silver eagle $28.22 USD
1 x 1oz gold eagle $1871 USD

GSR : 66...

Thats nuts, eagles are even more expensive. Rediculous premiums on american silver eagles.
 
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