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Over 5,000 years ago, the first Egyptian Pharaoh Menes stated that two and one-half parts silver equal one-part gold. At that time, and throughout most of the history that followed, gold and silver have served as stores of wealth, currencies, and means of exchange.
In modern times, since the 1970s, the average level of the relationship between the two precious metals has been around fifty-five ounces of silver value in each ounce of gold value. When the ratio between the metals is below the 55:1 level, silver is historically expensive compared to gold. At levels