I like articles like this that start out with historical stuff...
http://www.zerohedge.com/node/476960...so, the Coinage Act of 1792 got me to thinking...and it got me to figuring...
...if I converted grams/ounce and grains to grams right and such then according to my math it is highly likely that gold has been manipulated from then to now to the tune of...well...a lot!
The Founders thought a ration of gold to silver of 15:1 was proper. Just using their face values the ratio established was actually 10:1. Where did the other 5:1 go you might ask...well, I'm guessing they anticipated a growth in value and therefor a strengthening of the dollar for the new Republic. Perhaps rosy assumptions in government numbers goes back further than we think, eh? Anyway...updating the Founders coinage weights to current value a $10 Eagle with 16 grams of 99.9% pure gold should have a current value of about $683.99. One (silver) Dollar (99.9% pure, 24.1 grams) should be worth about $15.41. Value per denomination (dollars) should be $68.40 to $15.41...current value wise a ratio of just 4.44:1. Since this exercise holds silver price to be "true", all things being equal (and most likely) gold has been manipulated in value far below what it should be at...pump it up to the Founders effective ratio of 10:1 and gold should be closer to $2997/ounce...use the statutory 15:1 ratio and it should be closer $4495/ounce.
I look at todays ratio in per ounce prices and gold is trading at about 66-67 times silver. Historically since the 70's is about 60. Some think gold realistically should be closer to about $2500/ounce...using the 60:1 ratio then silver should be about $41.67/ounce.
While all this calculatin' is fun...bottom line: the PTB's have gamed the values of all precious metals...when the fiat kabuki ends people will want something tangible in their hands...not wads of notes that have suddenly become no more useful than pretty buttwipe or handy fire-starter!