[Currency] What was the conversion rate between gold and silver?

[QuintusSertorius]

That sounds awesome!

I currently play WFRP 2e with my group, and we've played D&D4e and various variations of FATE (playing a Dresden Files game next), we're each getting a turn to GM something. I've checked with them and despite the fantastical nature of most games, they'd be happy for a change of pace by going historical. The Hellenistic age is ripe for roleplaying adventure, and barely covered by RPGs.

[QuintusSertorius]

I don't have sources for this, but someone else said elsewhere:

It seems that the Achaemenids and Hellenistic kingdoms had a similar ratio [to the Roman 1/14]. One gold daric weighed around 8.3 g, and was equal to 20 silver siglos weighing 5.5 g (110 g) or 25 Attic drachmae weighing 4.3 g (108 g).

That gives us a 1:14 gold:silver ratio, more reasonable sounding than 1:27.

[Ibrahim]

I don't have sources for this, but someone else said elsewhere:



That gives us a 1:14 gold:silver ratio, more reasonable sounding than 1:27.

well, 1:27 is always reasonable: there was a time in US history IIRC when it was 32:1.....or at least was prposed to be at this ratio.

[QuintusSertorius]

well, 1:27 is always reasonable: there was a time in US history IIRC when it was 32:1.....or at least was prposed to be at this ratio.

Reasonable in a time of relative scarcity, perhaps. That's not what we were dealing with here, the markets were veritably flooded with gold.

[Ibrahim]

Reasonable in a time of relative scarcity, perhaps. That's not what we were dealing with here, the markets were veritably flooded with gold.

I was actually joking around when I said that. though it is apprently the case that in the late 19th century, the price of Gold was supposed to be 32:1 in relation to silver (by US federal convention anyhow). though the reason you give is actually incorrect: 32:1 was because silver was uber abundant (again, relatively speaking) in the country, due to several silver mining sites being found here in Colorado, and a few other places. this depressed the silver prices. gold supply itself was actually not that scarce...(though it might appear so, judging from the deflation in the immediate aftermath of the civil war: that however, is what happens when you've printed fiat currency for too long, then stopped.)

the latter fact was actually the reason the populists in the 1890's wanted a bimetal backing for their currency (i.e. gold and silver). you see, the populists wanted farmers to be able to pay off their debts and prevent forclosure/bankruptcy, and to do so, the opted to inflate the currency, debasing the dollar enough to ease debt payment on the farmers. since adding silver would do just that, they argued for it. needless to say, the industrial centers didn't like that...

[QuintusSertorius]

According to Green in Alexander to Actium, Alexander's showering of the Mediterranean economy with Persian gold dropped the gold to silver exchange rate from 1:13 to 1:10.