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 Replies: 10 / Views: 2,165 |
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Pillar of the Community
United States
1126 Posts |
Quite some time ago I was fortunate enough to come across this near mint copy of a Fortune Magazine July 1933 inside is an article about Silver use around the world at the time. Of course I had to buy it.  I am not sure if I have posted this before. If I have please forgive me. With the recent excitement in the Silver market I pulled the Magazine out to re-read the story again. And I remembered that I had taken photos of the pages the last time I had read it. I thought I would share it with the others in the precious metals group. I hope you enjoy it as much as I do. Terry            |
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New Member
United States
21 Posts |
July 1933 was just about the worst point of the Great Depression. The US Dollar was king. By 1964 dollars were being printed faster than silver was being mined. You know the rest of the story. A lot of silver was consumed by the photgraphic industry and that silver is lost.
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Valued Member
United States
384 Posts |
Have only gotten through the first couple of pages, but will finish it in time. Thanks fo sharing, it's not often that you get to read magazine articles from way back.
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Pillar of the Community
United States
4778 Posts |
35 cents per ounce in July 1933 with an all-time high of $1.37 (From the Hindu maiden caption)
I would so pay $1.37 for an ounce of silver any day
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Pillar of the Community
United States
1150 Posts |
Thanks for posting the great article! What an awesome find.
There is so much wisdom in there, also.
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Valued Member
United States
206 Posts |
Jango.. $1.37 in today's prices is somewhere around $22.82 - I would LOVE to be paying 22.82 for silver right now :)
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Pillar of the Community
United States
4008 Posts |
Thanks for posting that great article. It is an amazing read for sure. Yeah... silver at $1.37 and gold at $35 = a 25.5:1 ratio of gold:silver price. Not bad but quite a ways from where we are today at $1500:$35 = ~43 The part of the article that REALLY floored me was on page 102 when they spoke of pegging the price of silver at $0.50-0.55 an oz! WOW! Anyone care to buy a ton of silver at that rate?  |
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Valued Member
United States
333 Posts |
It seems like an oddity to me. If $1.40 of pocket change equaled an ounce of silver, if you were just buying silver to have silver you could easily increase your supply by buying at .35 an ounce.
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Pillar of the Community
 United States
1126 Posts |
Given the recent events in Silver, I thought I would bump
this article up. I just re-read it in the book
This past weekend.
Enjoy
Terry
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Rest in Peace
United States
9104 Posts |
In the next to last page, they mention that China was less than 2% of world trade.
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Pillar of the Community
United States
3670 Posts |
Great find, and source of history on this a subject we all follow. Very interesting to see the difference in price an thoughts of nearly 80 years ago....
Edited by Silverhawk74
07/31/2011 3:26 pm
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Replies: 10 / Views: 2,165 |
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Posted 05/17/2011 10:17 pm
