CHECK out SILVER!!!

Better not be trying to sell them as uncirculated after doing that

Historically 1/10 of an ounce of silver was the value of a day's work

$15 per hour (median wage for American workers) x 8 hours = $120 per day

$120 x 10 = $1,200 per ounce

.

I thought it was 3-4 months for a family of 4.

That is the math, yes. And the $1200 amount did not come from an economist, that I heard the number from. It cam from a very liberal ecologist...so both numbers match. Recycling and daily wages line up.

Yeah but, the old days of mining by hand are long gone. We have industrial scale mining operations all over the world scooping out tons of silver a day.

Higher productivity brings the price/value down.

If we look at what a $20 gold piece (1 oz) bought in say 1873. A Colt .45 with a ammo belt and some bullets.

Fast forward to today

1 troy oz of gold will buy about the same today. A good quality .45 auto, ammo belt or magazines, some bullets. Say $1,500 time it is said and done.

then why isn't gold 250/oz with all this magic new mining technology?

rarity.

Gold is much rarer than silver. Silver production is very high atm, this is partially why the price has been low.

Gold is another beast all together. Much more difficult to get profitable amounts from mining.

Im no expert but a quick google shows:
Search Results
Featured snippet from the web
A: Surprisingly, silver is more scarce than gold! Silver reserves are estimated to be approximately 500 million ounces available above ground compared to around 2 billion ounces of gold. ... Silver is the most electrically conductive, thermally conductive, and reflective metal on the planet.

if that is accurate, JP Morgan is holding in it's vaults 20% of the remaining above ground supply. Considering it has a billion more commercial uses than Gold, it seems it should be much higher no?

another interesting snippet:
Gold, silver and platinum are that rare! From the crustal abundance of precious metals, we can also see that the gold-to-silver ratio in the earth's crust is about 1:19. This means that there is roughly 19 times more silver than gold in the ground. ... There is actually lesser identifiable silver than gold above-ground.Apr 12, 2017

Could be to get people to sell it, so they can use it to make weapons ahead of planned war.

For example, there is 500 oz's of silver in each tomahawk missle.

I worked in mining back in the 80s for a brief period of time. When a gold ore deposit was found, it was zealously developed. The amount of heavy equipment that would be used was staggering. 1 ton of ore netting 1 oz of gold was considered good. Ore mining is industrial in scope.

I'm pretty certain the "above ground" gold meaning comes from river beds with gold dust and/or nuggets. Gold laying on the ground to be panned or picked up. Not the industrial gold mining from ore.

So yeah, if you're panning, you're a lot more likely to find gold than silver. However, silver ore deposits are much more common than gold.



//edit here

And I might add, despite the ration of gold to silver being 1:19 for the totality of the the respective metals. Finding the gold ore to be mined is another story.

Ore deposits are often in mountainous regions, making it even more difficult to get the processing equipment in, logistics and all.

all intersting Iswear. Willing to hear all sides of it. I just think silver price in particular is laughably low. It has 1000x more industrial uses than gold but is getting treated like a herpes wart. I think both of them are extremely undervalued but that is my opinion. Happy investing to you (although I consider pms a hedge rather than an investment). I just feel the time to buy something that has had value for 1000's of years is when everyone treats them like a herpes blister

shit..used the herpes analogy twice..anal cyst?

But sir, that brown color is just toning.....makes coins more valuable!

To binfinity and eond.

That is when ... WE RIDE!