DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - 48 tons of silver recovered from WW2" boating accident"

**Roker** · 07-19-2012, 02:36 PM

£600,000 in 1941 equates to ~$108 million US dollars in 2012, using gold as the yardstick (i.e. $35 in 1941; $1588 today). Divided into 240 metric tons of silver equates to $14 per ounce, half of today's spot price. Silver was rather cheap in 1941 as it were.

Great analysis, but I would say it's not that silver was cheap back then, it was that, in silver price, goods were more expensive. And that makes sense considering the means of production for consumer goods has been greatly improved in the decades since.

07-19-2012, 02:36 PM	#8
Roker Join Date Oct 2005 Posts 497 Senior Member	£600,000 in 1941 equates to ~$108 million US dollars in 2012, using gold as the yardstick (i.e. $35 in 1941; $1588 today). Divided into 240 metric tons of silver equates to $14 per ounce, half of today's spot price. Silver was rather cheap in 1941 as it were. Great analysis, but I would say it's not that silver was cheap back then, it was that, in silver price, goods were more expensive. And that makes sense considering the means of production for consumer goods has been greatly improved in the decades since.
	Quote