Market Curiosity: Exploring Markets And Systems

January 12, 2011

Valuing things in terms of mass

Filed under: Systems — Tags: , — Jeff Fitzmyers @ 10:51 am

Apparently about 1 to 15 silver dimes were historically a day’s average wage. “Silver, when it was plentiful, and used as money, was valued as a silver dime for a day’s wage.” And “… an average wage consisted of between 3-15 dimes/day in or around the year 1900.”

But now there are about 5 times less above ground silver. So possibly an average day’s wage could be 1/5 of a dime to 3 dimes. Lets say 2 dimes. So 2 silver dimes could pay for a few days of groceries? Strange to reflect on!

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