From 2005 through 2010 the price of silver averaged about $15 per ounce, briefly reaching as high as $20 per ounce. As of mid-2010, the price of gold was over $1200 per ounce, placing an aureus at about $325, the silver denarius at about $13, and a sesterce $3.25.ĭuring the 1990s the price of silver was consistently about $4 per ounce. Taking the modern value of gold at about $1000 an ounce, an aureus would be worth about $300, the silver denarius worth about $12, and a sesterce about $3. At these prices, the aureus would be worth about $100, the silver denarius worth about $4, and a sesterce about $1.
In the 20th Century, the average was about 2 percent.ĭuring the 1990s the price of silver was consistently about $300 per ounce.
Since 1492 there had never been a year in which the growth of the world gold stock increased by more than 5 percent in a single year. As such, their relationships would be immutable. Under a gold standard, exchange rates are not prices, but are more akin to conversion units, like 12 inches per foot, since under an international gold standard, every national currency unit would represent a specific weight of the same substance, i.e., gold. Duncan-Jones: roughly 20 billion sesterces, 880 tons of gold and 5,766 tons of silver. A much higher estimate, almost threefold, was suggested, for the '60 of the II century AD, by R.P.
Silver denarius coin value plus#
According to Goldsmith, at the end of the Augustan age the magnitude was in the order of some 7 billion sesterces, 3 billion in silver coins (that is, 2,895 tons of silver) and 4 billion in gold coins (that is, 309,6 tons of gold), plus a small amount of subsidiary coins.
Scholars have proposed quite diverging estimates of the monetary stock in Roman imperial times. While estimates of Purchasing Power Parity exchange rates offer some basis for comparison, the absence of a remotely common basket of goods clouds the estimates. Changes in the total stock and relative prices of gold and silver produce subsantial divergences between ancient and modern prices calculated in the two metals. The confident parenthetical conversions prevalent in the literature of two centuries ago now pale in the face of a variety of methodolgical quandries. It is nearly impossible to compare the value of Roman money to that of modern times, for a variety of reasons.
0 kommentar(er)
