Conversion of ancient monetary
units to modern ones
How much did money cost in the past? The answer to this question will help
to get this converter, which allows you to convert the value of ancient money to
modern monetary units and vice versa, as well as recalculate the value of
monetary units at different times in different countries.
The weight of pure silver in a coin (Silver Standard) or its gold equivalent,
converted to silver, is taken as the value estimate. The ratio of the value of
silver to gold at different times ranged from 10:1 (during the Byzantine Empire)
to 15.5:1 in the so-called Bimetallic standard, established in 1717 by Isaac
Newton. In Russia, after a long way of paper money circulation, a monetary
reform of 1897 was carried out, which meant a transition to gold monometallic
system. The cost of 1 gold ruble was equal to 0.774234 gr. pure gold or, at that
time, the ratio of the value of silver to gold 30: 1, - 23,24 g of silver for 1
gold ruble.
In the UK, the transition to the gold standard was carried out earlier in 1817.
Sovereign value - British Golden Pound was set in 7.322382 g of pure gold or 219
g of silver.
Currently, the ratio of the cost of silver to gold is 85:1 and is speculative.
To obtain the calculated data close to real, in the present converter it was
assumed that the real cost of 1 gram of silver is 70 Rubles or in USD 0.7 per 1
gram of silver, or in EUR 0.67 per 1 gram of silver (average cost of 1 gram of
silver at the rate of the Central Bank of the Russian Federation in 2023).
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