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Commodity Trading Discussion Forum

Re: Little humor :) *PIC*

Posted By: R
Date: Sunday, 8 November 2009, at 11:18 a.m.

In Response To: Little humor :) (USCoralSea)

Under the US Mint Act of 1792, the dollar was defined as 371.25 grains of silver. There are 480 grains in a troy ounce. Thus it took 1.3 US dollars to purchase a single troy ounce of pure siver.

As of January 7, 2009 the price of a troy ounce of silver is US$11.22, representing a 89.5% drop in value!

Using this data,
and the Friday close the US$ is really worth 3¢, not 2¢ ..
an increase of 50%.

Don't you feel better now?

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