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To: Beelzebubba

I’ve seen you post that same thing over and over.

Under the Coinage Act of 1792, here’s the deal:

A gold eagle (ten dollars) contains 16 gr of pure gold.
That makes one dollar the equivalent of 1.6 gr pure gold.

A dollar contains 24.1 gr of pure silver

Therefore, 24.1 gr of silver is the equivalent of 1.6 gr of gold

24.1 divided by 1.6 gives a ratio of 15.06 to one

Which is close to their relative rarity in the Earths crust.


24 posted on 12/28/2010 3:14:49 PM PST by djf (Touch my junk and I'll break yur mug!!!)
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To: djf
Look at the centuries-long chart, and note how since silver was discovered in the Western US, the ratio has rarely been much below 50:1 (prior it was never above). I can't imagine any factor that would cause us to return to pre-Comstock markets. And I think that over a century of mostly 50+ ratios addresses the mining ratio theories:


29 posted on 12/28/2010 3:37:47 PM PST by Atlas Sneezed ("If you touch my junk, I'm gonna have you arrested.")
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