Silver is the currency of gentlemen…. In the book, Money and Wealth in the New Millennium (2001), Norm Franz wrote, “Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Actually, United States Senator James John Ingalls (1833-1900), of Kansas, said in the 1870’s, “Gold is the money of monarchs.” The saying, “Gold is the money of kings,” has been cited in print since at least 1891. Norm Franz appears to have been the first to add, “silver,” “barter,” and “debt,” to the saying. When this is cited, the word “currency” often replaces the word “money” to become, “Gold is the currency of kings; silver, the currency of gentlemen, ....” The quotation has of course become frequently used in the sales pitches, literature and videos of those who sell gold and silver. In 2013, a 1,000-oz bar of silver, (larger than a standard bar, about the size of a loaf of bread, weighing 68.57 pounds), is worth over 20 thousand U.S. dollars. A standard bar of gold, about the size of a large brick, 400-oz (27.5 pounds), is worth over half a million. In other words, one could readily contain one’s family fortune, in the form of easily traded coins, in one’s own safe in one’s own home. Silver certificates should again be the U.S. currency of gentlemen. Forrest Harstad
Posted on: Mon, 15 Jul 2013 14:23:41 +0000