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File:Silver price chart since 2000.svg. ... Silver prices since 2000 until April 2015. Price quotes given in USD per ounce. ... current: 16:28, 21 April 2015:
In 1792, the gold/silver price ratio was fixed by law in the United States at 15:1, [11] which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1 was enacted in France in 1803. [12] The average gold/silver price ratio during the 20th century, however, was 47:1. [13]
Today, silver bullion has the ISO 4217 currency code XAG, one of only four precious metals to have one (the others being palladium, platinum, and gold). [110] Silver coins are produced from cast rods or ingots, rolled to the correct thickness, heat-treated, and then used to cut blanks from. These blanks are then milled and minted in a coining ...
The Spanish silver dollar created a global silver standard from the 16th to 19th centuries. The silver standard [a] is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians c. 3000 BC until 1873.
Silver also found its way across other parts of the world as well. India and Europe both received a fair amount of silver. [14] This silver was often locally traded for other commodities, such as gold or crops. In India, silver flowed from the south to the north, and gold flowed the opposite way. [14]
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