Search found 333 matches

by RogerB
Tue May 26, 2020 12:12 am
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Re: Monthly silver to gold ratio 1896 - 1924

I might also add, just for clarity, that FDR did not devalue the dollar except in relation to gold. There was no change in domestic commodity prices, no sudden price increases, and only a small decline in foreign dollar exchange. Other countries had already dropped the circulating gold exchange stan...
by RogerB
Mon May 25, 2020 7:12 pm
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Re: Monthly silver to gold ratio 1896 - 1924

My main points are: 1. A true bi-metallic standard at equivalence cannot be maintained. 2. Silver: Gold ratios have always been arbitrary and cannot be maintained. Yeah, I know this can be "nasty" stuff. But it is something that colors the past of numismatics and has influenced thousands of decision...
by RogerB
Mon May 25, 2020 6:56 pm
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Re: Monthly silver to gold ratio 1896 - 1924

From 1924 forward there were similar ranges although somewhat less volatility after the June 1934 Silver Act. At that point the government put a floor on the price of newly mined silver so that western miners could stay in business. This reduced volatility but the ratio was often closer to 100 to 1 ...
by RogerB
Mon May 25, 2020 3:35 pm
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Re: Monthly silver to gold ratio 1896 - 1924

RE: "I had assumed that so long as governments had a fixed rate for the purchase of bullion that it could "fix" or "set" the market price and that there was little to no change in the ratio. I think I remember that during the years when silver was being purchased for Morgans the price of silver was ...
by RogerB
Mon May 25, 2020 3:21 pm
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Re: Monthly silver to gold ratio 1896 - 1924

Excellent questions and they go directly to the core of any "silver-to-gold" (or analogous) ratio. Since ancient times there have existed two ways of valuing precious metals (and other things). The production value, which depended on total sunk acquisition cost plus enterprise profit. The government...
by RogerB
Mon May 25, 2020 12:46 am
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Re: Monthly silver to gold ratio 1896 - 1924

PPS: The period December 1916 – June 1920 roughly coincides with a period of increasing labor and supply expenses for gold mining companies. Many such businesses could not make a profit with gold fixed at $20.67+ per fine ounce and chose to close mines, or divert work to lead, silver, copper and oth...
by RogerB
Mon May 25, 2020 12:12 am
Forum: Discussion Forum
Topic: Monthly silver to gold ratio 1896 - 1924
Replies: 15
Views: 434

Monthly silver to gold ratio 1896 - 1924

At the risk of inflaming a very few to the detriment of many, here is a table from the U. S. Mint Bureau showing the silver to gold market ratio from 1896 to 1924. Ratios were calculated using the statutory value of gold versus the average monthly silver market price in London. 19240404 Gold to silv...
by RogerB
Sat May 23, 2020 9:03 pm
Forum: Discussion Forum
Topic: Sample “Special Assay” report for 1890 Morgan dollars
Replies: 1
Views: 145

Sample “Special Assay” report for 1890 Morgan dollars

The U.S. Mint term “Special Assay” is occasionally confused with “Annual Assay. ” From the earliest days of our national mint, samples of gold and silver coins were reserved during the year, and then subjected to independent testing by a presidentially appointed body of citizens called the Annual A...
by RogerB
Thu May 21, 2020 2:33 am
Forum: Discussion Forum
Topic: Newly uncovered photo of punishments at US Mint c.1878...
Replies: 6
Views: 303

Re: Newly uncovered photo of punishments at US Mint c.1878...

Actually --- this was the favored cure for migraine headache at the Carson Mint. The two women likely owned the kettle.
Nice find!
by RogerB
Wed May 20, 2020 3:56 am
Forum: Discussion Forum
Topic: 1922 D VAM 2O2 VLDS
Replies: 11
Views: 472

Re: 1922 D VAM 2O2 VLDS

Hmmm...Widest crack since the last time the plumber was here to fix a toilet.
:)
by RogerB
Wed May 20, 2020 3:52 am
Forum: Discussion Forum
Topic: Gold/Silver Ratio
Replies: 32
Views: 997

Re: Gold/Silver Ratio

"Ratios" between precious metals are useless, arbitrary and have no commercial value - and never did. The silver to gold ratio was always an attempt to express commercial availability of one metal in the other so that transactions would have at least temporary equivalence. This goes back at least as...
by RogerB
Sun May 17, 2020 8:31 pm
Forum: Discussion Forum
Topic: Pattern or regular issue Morgan dollar? Collector wants to know.
Replies: 7
Views: 316

Re: Pattern or regular issue Morgan dollar? Collector wants to know.

Anderson was of modest means - like most coin collectors of his, or any, era. In 1885 he was a bookkeeper at the paraffin company and by 1891 he had been promoted to a secretarial position. His name first appears in 1885 and is last seen in 1922....but not everything has been digitized, so he might ...
by RogerB
Sun May 17, 2020 5:27 pm
Forum: Discussion Forum
Topic: Pattern or regular issue Morgan dollar? Collector wants to know.
Replies: 7
Views: 316

Re: Pattern or regular issue Morgan dollar? Collector wants to know.

A reply has not been found; but, letters sent by the Philadelphia Mint Superintendent have not been digitized.
by RogerB
Sun May 17, 2020 4:33 pm
Forum: Discussion Forum
Topic: Illinois Set?
Replies: 11
Views: 588

Re: Illinois Set?

Many extremely nice coins, but their real value is in appreciation of quality, not cost.
by RogerB
Sun May 17, 2020 4:29 pm
Forum: Discussion Forum
Topic: Pattern or regular issue Morgan dollar? Collector wants to know.
Replies: 7
Views: 316

Pattern or regular issue Morgan dollar? Collector wants to know.

Well, OK --- this was 129 years ago, but it's still an interesting letter from someone who was an ordinary coin collector for many decades. 18910403 P Is this a pattern silver dollar-Anderson.jpg Dear Sir, I have had made to me an offer of sale for an 1878 Bland Dollar 7 feathers in the eagle’s tail...
by RogerB
Thu May 14, 2020 1:31 pm
Forum: Discussion Forum
Topic: Summer fun!! 2020
Replies: 21
Views: 951

Re: Summer fun!! 2020

RogerB wrote: ↑
Wed May 13, 2020 3:29 pm
Anyone have a formula for getting mustard stains off an N-95 face mask? It will be needed if F.U.N. happens.

Club soda and Lysol.

For the mask or taken internally ?
by RogerB
Thu May 14, 2020 1:14 am
Forum: Discussion Forum
Topic: 1923 Vam 1CK possible Clash?
Replies: 15
Views: 638

Re: 1923 Vam 1CK possible Clash?

The round things are upsetting machines. They made the blanks true and raised a uniform rounded proto-rim on the blank. When the blanks came out they were called planchets suitable for striking. Height and angle of upsetting had significant impact (pun intended) on the quality/fullness of detail on ...
by RogerB
Wed May 13, 2020 7:29 pm
Forum: Discussion Forum
Topic: Summer fun!! 2020
Replies: 21
Views: 951

Re: Summer fun!! 2020

Anyone have a formula for getting mustard stains off an N-95 face mask? It will be needed if F.U.N. happens.
by RogerB
Wed May 13, 2020 7:28 pm
Forum: Discussion Forum
Topic: 1923 Vam 1CK possible Clash?
Replies: 15
Views: 638

Re: 1923 Vam 1CK possible Clash?

So....there's a 1923 variety called "Ick" .... must be a mess.
by RogerB
Wed May 13, 2020 2:31 pm
Forum: Discussion Forum
Topic: 1899-O - Die Cracks on Reverse... V25B or Discovery coin or?
Replies: 22
Views: 856

Re: 1899-O - Die Cracks on Reverse... V25B or Discovery coin or?

Extensive die cracking and low quality was eventually attributed to improper annealing of planchets. But with mint HQ demanding that New Orleans make more dollars than they could correctly anneal, the same problem reappeared year after year. But mine is more rare, right? :lol: Yours is "more rare" ...