Silver to Gold ratio out of the ground is 9 to1 oz, but why is Silver x60 times cheaper!

in silver •  8 years ago  (edited)

For every one ounce of Gold mined out of the ground, miners mine 9 ounces of Silver, but why is Silver x60 times cheaper than gold? Manipulation?

silver bullion mining
8 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.00
    2 votes
    7
    Authors get paid when people like you upvote their post.
    If you enjoyed what you read here, create your account today and start earning FREE STEEM!
    Sort Order:  
  • Trending
    • [-]
      ·  8 years ago (edited)

    Gold, being more "desirable" can account for some level of deviation, but not to levels like 60-80x.

    It used to be around 17-18x when gold and silver were used in coins.

    I remember the 5 francs was 25gr silver x 0.9 purity = 4.5pure grams silver per franc.

    The 20 franc gold coin was 6.45gr gold x 0.9 purity = 0.29gr gold per franc.

    So it was 4.5grams of silver per franc / 0.29grams of gold per franc = around 15.5x... That was in the ~1860s.

    So it should be around 20x tops.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      1 vote
      [-]
        ·  8 years ago 

      I believe the historical average was 12-1 Gold to Silver, but as there is less silver on earth now compared to Gold due to industrial uses never to be recovered, some are calling for a 1-1 ratio when the rigging ends!

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00
        [-]
          ·  8 years ago 

        They are just silver pumpers. 1-1 will never happen. At best 1-10.

        Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

        • Disagreement on rewards
        • Fraud or plagiarism
        • Hate speech or trolling
        • Miscategorized content or spam

        Submit
        $0.00
          [-]
            ·  8 years ago 

          Gold has value as a conductor of electricity and has demand in electronics.

          Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

          • Disagreement on rewards
          • Fraud or plagiarism
          • Hate speech or trolling
          • Miscategorized content or spam

          Submit
          $0.00
            [-]
              ·  8 years ago 

            I thought that was Silver? No

            Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

            • Disagreement on rewards
            • Fraud or plagiarism
            • Hate speech or trolling
            • Miscategorized content or spam

            Submit
            $0.00
              [-]
                ·  8 years ago 

              Because gold is virtually indestructible. Perfect property as a store of value and does not oxidise like silver which will make it look like a piece of crap.

              Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

              • Disagreement on rewards
              • Fraud or plagiarism
              • Hate speech or trolling
              • Miscategorized content or spam

              Submit
              $0.00
                [-]
                  ·  5 years ago 

                Congratulations @digger22! You received a personal award!

                Happy Birthday! - You are on the Steem blockchain for 3 years!

                You can view your badges on your Steem Board and compare to others on the Steem Ranking

                Vote for @Steemitboard as a witness to get one more award and increased upvotes!

                Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

                • Disagreement on rewards
                • Fraud or plagiarism
                • Hate speech or trolling
                • Miscategorized content or spam

                Submit
                $0.00