Silver Price - Page 2 - Coin Community Forum

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Author	Replies: 22 / Views: 3,050	Page: of 2

Namachieli Pillar of the Community United States 2120 Posts	Posted 06/07/2012 12:49 pm So I found this to be an an interesting topic, How many ounces of silver did a person receive for a day of work. So I made a chart visualization for; Median yearly income (Source - Bureau of Labor Statistics) Average yearly silver price (Source - Kitco) Number of Ounces of silver a day's worth of work would buy you. Quote: One Days Hard Human Labor cost 1/10th of an ounce of Silver Roughly One Pre 1964 Dime. I'm not sure how that number was reached, but the numbers I used were Median Yearly wages (not average), broken into 8 hour work days at 5 days per week. http://www.sudobox.net/extra/Agfordayworked.html it's interesting to see how close we are today to previous years in Number of ounce you could buy in a day. Edited by Namachieli 06/07/2012 12:52 pm Report this Post to the Staff
silvercoinrn Pillar of the Community United States 863 Posts	Posted 06/07/2012 1:07 pm I think he was talking about an 1800s. Hard days labor. But still a very neat chart. Report this Post to the Staff
Namachieli Pillar of the Community United States 2120 Posts	Posted 06/07/2012 1:10 pm Ah ok, I guess I made a poor assumption on the year he was referencing. Looking at this some more, looks like the most cost effective time to buy silver since 1965, was in 2001. Gratz to everyone that did Report this Post to the Staff
stewart Pillar of the Community United States 1126 Posts	Posted 06/07/2012 2:12 pm Very Cool Chart Thank You for posting that. Yes I was pointing primarily to anytime before 1913 and the formation of the Federal Reserve Bank. Which started fractional reserve banking in earnest. Sorry that I did not clarify that Report this Post to the Staff
Center Pin Valued Member Canada 178 Posts	Posted 06/07/2012 3:30 pm Very interesting chart. Report this Post to the Staff
nod2003 Pillar of the Community United States 3294 Posts	Posted 06/07/2012 4:15 pm Any details on the "price manipulation"? I have doubts about that, because it would require a lot of people to be in on it and people are pretty bad at keeping secrets. Report this Post to the Staff
Namachieli Pillar of the Community United States 2120 Posts	Posted 06/07/2012 4:32 pm http://moneymorning.com/2012/04/06/...anipulation/ Here's an interview with the man, Ted Butler, about this subject. He provides a good high level run down of the what and how. Report this Post to the Staff
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