What can gold buy over centuries ?

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philv's picture
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Joined: Oct 6 2008
Posts: 13
What can gold buy over centuries ?

I would like to know if someone have a reference document or a study about the purchasing power of gold over ages.

I am looking for something like table that would show the price of bread, wine, hotel or other basic services in gold grams over centuries.

The value of gold have fluctuate so much over the20th century that it does not give a real idea of it's "real" value .

Having an idea of the value of gold on a long period seems interesting to me.

 I will be interested to know how much gold was available per inhabitant over centuries. Does the extraction of gold in tons/year have followed the popullation increase ?

Philippe (Belgium) 


Brainless's picture
Status: Silver Member (Offline)
Joined: Dec 9 2008
Posts: 150
Re: What can gold buy over centuries ?

Not exactly what you asked, but it is a start:



bruin36's picture
Status: Bronze Member (Offline)
Joined: Oct 4 2008
Posts: 48
Re: What can gold buy over centuries ?

Recently I heard what I think is a pretty good analogy for the value of gold, over time. One ounce of gold has bought a mans suit. That seems pretty close in today's market - between 495-1000 an ounce over the last 3 years could have gotten one a pretty nice suit. I assume that Gold in the time of the Roman empire did the same thing - only then it was a toga, sash and sandals for the ounce.

The thing is gold may deflate in price but so will everything else - but the value of this deflated gold may then get you 2 or 3 men's suits for one ounce, Deflationary goods bought with a precious metal that may have lost value but will have three times the purchasing power.

I am not sure this makes any sense at all but I wanted to put it out there.



capesurvivor's picture
Status: Platinum Member (Offline)
Joined: Sep 12 2008
Posts: 963
Re: What can gold buy over centuries ?

Mel Tappan (Tappan on Survival) said that a $20. U.S. gold piece would buy a Colt .45 ACP since it was invented in 1911. He died in 1970's but it is still true. Perhaps the coin of the realm would always buy one the premier personal weapon of the day.



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