Comments: Austria issues 100,000 Euro coin

> 31kg (68lb)?

That's right around the weight of a 1,000 bar of silver. So, right now it takes about 60 1,000 oz bars of silver to buy that coin since the silver to gold price ratio is 60:1 right now. There's no iron law of economics, or anything out there, that says the ratio can not go to 1:1. Historically the ratio norm is roughly 15:1 since silver is found in the earth's crust about 15 times more often, by weight, than gold. The ratio is way way away from the mean. More recently it has been at 80:1. Regressions to the mean usually over shoot the mean (start heading to that 1:1 ratio). So, I'll take silver over gold, particularly since right now nobody wants silver because they get too much for their "money" as Ted Butler puts it, or right now, silver "ain't got no respect" (Rodney Dangerfield?).

Posted by bob at October 22, 2004 07:56 AM
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