Precious Metal Coins, 2500 Years of History
Did you know that coins have been traded for over 2500 years?
Coins, including precious metal ones have been a unit of exchange for more than 2500 years.
Drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. The drachma was one of the world's earliest coins. Its name derives from the Greek verb meaning “to grasp,” and its original value was equivalent to that of a handful of arrows. A worker in Athens could earn about two drachmas a day. (Britannica.com)
Translated to today’s average salary in the US of $52,000, that would mean the average worker received the equivalent of $200 a day. An average Drachma contained 1/7 ounce of pure silver. If the average worker were only paid 2 drachma per day today in the US they would receive the equivalent of about $7 for a day’s wage. This supports the belief that we and many others share that Silver is highly undervalued in today's market environment.
Coins weren't limited to just silver ones however. There have been many precious and non-precious metal coins, minted, struck and stamped throughout history. From Zinc to Gold and Platinum. Coins have taken many shapes and sizes. But one thread united all of them, they were a measure of exchange. Something which the value was indisputable, unlike modern paper money which is not always backed by something tangible and the supply is not always transparent.
We believe that precious metals, especially ones with industrial applications such as Silver, Gold and Copper have a bright future beyond their storied history.
Thank you for reading and happy collecting!
Copper, History, Precious Metals, Silver