Post by Silver on Jun 23, 2022 13:40:26 GMT 1
Per the US Geological Survey, there are about 19 ounces of Silver in the Earth's crust for every ounce of Gold. But much of this Silver is insufficiently concentrated whereby to be profitably mineable.
Currently, worldwide, for every ounce of gold that is annually mined and refined, roughly 9 ounces of Silver are also mined and refined. This is the modern ratio of Silver to Gold.
~70% of all mined Silver is consumed by industry. Only a scant few percent of all mined Gold is consumed by Industry. Silver is a key component in solder, electronics, and Solar Panels.
Roughly 95% of all of the Gold mined throughout all of history is still above ground and accessible. Nearly all of the Silver ever mined throughout history is in places like landfills and graves.
Historically (for thousands of years) ~15 weight units of Silver have been considered to be the monetary value equivalent of 1 weight unit of Gold. That is because back in the days of yore when both Gold and Silver were more accessible via mining, about 15 ounces of Silver were mined for every ounce of mined Gold.
This indicates that as time progresses the mining of Silver (with respect to that of Gold) is showing diminishing yields on a ratio basis.
Currently 1 ounce of Gold will buy you ~86.5 ounces of Silver.
More than 99% of all Silver is merely traded on paper without anyone taking physical possession. And it is this trading that establishes the price. Nearly all Silver mines are money losers as a consequence.
Does the 86.5 to 1 ratio of Silver value to Gold value seem in any way to be odd to you?
Currently, worldwide, for every ounce of gold that is annually mined and refined, roughly 9 ounces of Silver are also mined and refined. This is the modern ratio of Silver to Gold.
~70% of all mined Silver is consumed by industry. Only a scant few percent of all mined Gold is consumed by Industry. Silver is a key component in solder, electronics, and Solar Panels.
Roughly 95% of all of the Gold mined throughout all of history is still above ground and accessible. Nearly all of the Silver ever mined throughout history is in places like landfills and graves.
Historically (for thousands of years) ~15 weight units of Silver have been considered to be the monetary value equivalent of 1 weight unit of Gold. That is because back in the days of yore when both Gold and Silver were more accessible via mining, about 15 ounces of Silver were mined for every ounce of mined Gold.
This indicates that as time progresses the mining of Silver (with respect to that of Gold) is showing diminishing yields on a ratio basis.
Currently 1 ounce of Gold will buy you ~86.5 ounces of Silver.
More than 99% of all Silver is merely traded on paper without anyone taking physical possession. And it is this trading that establishes the price. Nearly all Silver mines are money losers as a consequence.
Does the 86.5 to 1 ratio of Silver value to Gold value seem in any way to be odd to you?
