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Price of silver
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http://www.econlib.org/library/YPDBooks/Laughlin/lghHBMtoc.html The History of Bimetallism in the United States by J.
Laurence Laughlin - D. Appleton and Co. New York, 1898 (Fourth edition). First edition: 1885.
Appendix II http://www.econlib.org/library/YPDBooks/Laughlin/lghHBM19.html gold silver ratio http://www.micheloud.com/FXM/MH/Mrkt_Ratio.htm The bimettalic standard http://www.sharelynx.com/papers/CRAAGReport.php http://www.silver-investor.com/ http://www.frbsf.org/publications/federalreserve/annual/1995/history.html 1995 Annual Report: A Brief History of Our Nation's Paper Money http://www.eh.net/hmit/goldprice/Interpretation.pdf What Was the Price of Gold Then? http://www.silverinstitute.org/price/history.php http://www.scescape.net/~woods/elements/silver.html (Summary of PoS) In 1939, the price of silver was fixed by the U.S. Treasury at 71 cents/troy oz., and at 90.5 cents/troy oz. in 1946. In November 1961 the U.S. Treasury suspended sales of nonmonetized silver, and the price stabilized for a time at about $1.29, the melt-down value of silver U.S. coins. The coinage act of 1965 authorized a change in the metallic composition of the three U.S. subsidiary denominations to clad or composite type coins. This was the first change in U.S. coinage since the monetary system was established in 1792. Clad dimes and quarters are made of an outer layer of 75% Cu and 25% Ni bonded to a central core of pure Cu. The composition of the one- and five-cent pieces remains unchanged. One-cent coins are 95% Cu and 5% Zn. Five-cent coins are 75% Cu and 25% Ni. Old silver dollars are 90% Ag and 10% Cu. Earlier subsidiary coins of 90% Ag and 10% Cu officially were to circulate alongside the old coins; however, in practice they have largely disappeared (Gresham's Law), as the value of the silver is now greater than their exchange value. Silver coins of other countries have largely been replaced with coins made of other metals. On June 24, 1968, the U.S. Government ceased to redeem U.S. Silver Certificates with silver. Since that time, the price of silver has fluctuated widely. As of January 1990, the price of silver was about $5.25/troy oz.; however, the price has fluctuated considerably due to market instability. |