Gold-to-Silver Ratio Since 1869

The gold-to-silver ratio shows how many ounces of silver equal one ounce of gold. It is the oldest continuously tracked exchange rate, dating back to 3200 BCE. Historically, the ratio played an important role in ensuring coins had their appropriate value, and it remains an important technical metric for metals investors today.

This graphic shows the gold-to-silver ratio since 1869. Data was compiled by Longtermtrends.

The History of the Gold-to-Silver Ratio

The earliest recorded instance of the ratio dates back to 3200 BCE, when Menes, the first king of Ancient Egypt, set a ratio of 2.5:1. Since then, the ratio has generally seen gold’s value rise as empires and governments became more familiar with the scarcity and difficulty of production for both metals.