by Stephen Simpson, ETFDailyNews.com:
Silver has always been the redheaded stepchild of gold throughout human
history. While its beauty, scarcity and utility have certainly been
appreciated since pre-history, silver just isn’t as rare as gold and has never been esteemed as highly. For much of history, though, silver has been money
.
While the average laborer (or peasant) probably never saw a single gold
coin in their hands in their lifetime, silver money was a different
story.
Pricing Silver
Given that for so much of human history silver wasmoney, it can be a little challenging to talk about the historical price of silver. To a certain extent, it’s like talking about the value of a $5 bill in terms of $1 dollar bills. In any case, an examination of prices throughout history shows inexorable inflation, both as the supply of gold and silver increased and as governments increasingly debased their coinage and/or turned to paper money.
Read More @ ETFDailyNews.com
Silver has always been the redheaded stepchild of gold throughout human
history. While its beauty, scarcity and utility have certainly been
appreciated since pre-history, silver just isn’t as rare as gold and has never been esteemed as highly. For much of history, though, silver has been money.
While the average laborer (or peasant) probably never saw a single gold
coin in their hands in their lifetime, silver money was a different
story.Pricing Silver
Given that for so much of human history silver wasmoney, it can be a little challenging to talk about the historical price of silver. To a certain extent, it’s like talking about the value of a $5 bill in terms of $1 dollar bills. In any case, an examination of prices throughout history shows inexorable inflation, both as the supply of gold and silver increased and as governments
increasingly debased their coinage and/or turned to paper money.Read More @ ETFDailyNews.com
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