Has Silver Ever Been Worth More Than Gold? - Daily FactssteemCreated with Sketch.

in busy •  2 months ago

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If you’re interested in precious metals you might wonder if silver has ever been more valuable than gold ? The fact is that for a small instance it actually was. Here is a small passage from The commoner. (Lincoln, Neb.) December 01, 1919.

“Are the New York financiers living up to their claims of honesty that they made
so vociferously in 1896, or are they paying their debts in a cheap gold dollar?’.’ asked Mr. Bryan the other day when the bullion value of a silver dollar had soared beyond the bullion value of
a gold dollar.”
The commoner. (Lincoln, Neb.) December 01, 1919

With the current prices in gold and silver, if you would own 1 ounce of silver and the ratio changed to 1:1, you would have gotten a 8550 % increase. Not too shabby if you ask me.

Source: https://goo.gl/fZ2qrW

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Interesting. What caused this? Gold should be always more expensive than silver as it is rarer of the two.

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Even though Silver is 17.5 times more abundant in the Earth's crust than gold, the amount of above-ground gold available, far exceeds that of silver.

In 1950, there were 10 billion ounces of available silver above ground. By 1980, that number shrank to 3.5 billion. And today, no significant government stockpiles of silver exist anywhere in the world to help with the shortage of silver on the market.

Silver is like modern oil, and most will be consumed by industries as soon as it is mined. Good on the other hand is stored and the above ground supply is steadily increasing.

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I think it is used even in computers, if I'm not wrong

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Basically all electronic devices it is used

Interesting. I did not think about it and I did not even know it happened. As a different fact ... I like silver more than gold ... as an ornament, a jewel.

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Me too ! Definitely prefer silver

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Thanks! I'm glad to hear that.

The value of gold will always be higher than silver

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Even though Silver is 17.5 times more abundant in the Earth's crust than gold, the amount of above-ground gold available, far exceeds that of silver.

In 1950, there were 10 billion ounces of available silver above ground. By 1980, that number shrank to 3.5 billion. And today, no significant government stockpiles of silver exist anywhere in the world to help with the shortage of silver on the market.

Silver is like modern oil, and most will be consumed by industries as soon as it is mined. Good on the other hand is stored and the above ground supply is steadily increasing.

Bring on the day this will happen, think of the possibilities for us stackers.

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It would be a good day indeed !

Good informative article on silver & gold.
you select Beautiful topic..
well done my dear friend.