Right Sunnybank. The 15/1 ratio has been out of whack for quite a long time now. Under that historic valuation, $1500 an ounce gold would translate to 100 dollar silver. In Roman times, the price ratio was set at 12 or 12.5 to 1. In 1792, the gold/silver price ratio was fixed by law in the United States at 15:1, (by Secretary of Treasury Alexander Hamilton) which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1
A Review of other Relevant Ratios:
* 9:1 is the ratio of silver to gold annual mine production * 6:1 is the estimated ratio of economic gold to silver in the ground (USGS) * 5:1 is the estimated physical ratio of all silverware, silver/gold jewelry and other stocks above ground (according to CPM Group) * 1:1 is the year-to-date ratio of investment dollar demand. * 1:3 (more silver than gold) is the physical ratio of gold and silver coins/bullion
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