{
 "title": "Gold-to-silver ratio history",
 "units": "ounces of silver per ounce of gold",
 "retrieved": "2026-10-14",
 "notes": "1687-2025 are annual averages of market prices (MeasuringWorth), which smooth out short daily spikes and lows. Pre-1687 values are approximate official/mint ratios, not market data. Eras without a sourced figure (e.g. medieval Europe) are omitted rather than estimated.",
 "milestones": [
  {
   "year": 1,
   "label": "Roman Empire (time of Augustus/Jesus)",
   "ratio": 12,
   "approximate": true,
   "kind": "official/mint ratio",
   "text": "Roman state exchanged reserve gold for minted silver at about 1 to 12; the gold aureus was valued at 25 silver denarii.",
   "source": "Wikipedia, 'Aureus'",
   "url": "https://en.wikipedia.org/wiki/Aureus"
  },
  {
   "year": 1792,
   "label": "US Coinage Act",
   "ratio": 15,
   "approximate": false,
   "kind": "official mint ratio",
   "text": "The new US dollar fixed silver-to-gold at 15:1 by weight.",
   "source": "Wikipedia, 'Coinage Act of 1792'",
   "url": "https://en.wikipedia.org/wiki/Coinage_Act_of_1792"
  },
  {
   "year": 1803,
   "label": "French franc (law of 1803)",
   "ratio": 15.5,
   "approximate": false,
   "kind": "official mint ratio",
   "text": "France set gold and silver francs interchangeable at 15.5:1, later adopted by the Latin Monetary Union (1865).",
   "source": "Wikipedia, 'Latin Monetary Union'",
   "url": "https://en.wikipedia.org/wiki/Latin_Monetary_Union"
  },
  {
   "year": 1834,
   "label": "US Coinage Act of 1834",
   "ratio": 16,
   "approximate": false,
   "kind": "official mint ratio",
   "text": "The US raised its mint ratio from 15:1 to 16:1.",
   "source": "Wikipedia, 'Coinage Act of 1834'",
   "url": "https://en.wikipedia.org/wiki/Coinage_Act_of_1834"
  },
  {
   "year": 1873,
   "label": "Silver demonetized",
   "ratio": null,
   "text": "The US Coinage Act of 1873 ended free coinage of silver dollars; the Latin Monetary Union stopped free silver minting around the same time. The market ratio then rose for decades.",
   "source": "Wikipedia, 'Coinage Act of 1873'",
   "url": "https://en.wikipedia.org/wiki/Coinage_Act_of_1873"
  }
 ],
 "annual": [
  {
   "year": 1687,
   "ratio": 14.94
  },
  {
   "year": 1688,
   "ratio": 14.94
  },
  {
   "year": 1689,
   "ratio": 15.02
  },
  {
   "year": 1690,
   "ratio": 15.02
  },
  {
   "year": 1691,
   "ratio": 14.98
  },
  {
   "year": 1692,
   "ratio": 14.92
  },
  {
   "year": 1693,
   "ratio": 14.83
  },
  {
   "year": 1694,
   "ratio": 14.87
  },
  {
   "year": 1695,
   "ratio": 15.02
  },
  {
   "year": 1696,
   "ratio": 15.0
  },
  {
   "year": 1697,
   "ratio": 15.2
  },
  {
   "year": 1698,
   "ratio": 15.07
  },
  {
   "year": 1699,
   "ratio": 14.94
  },
  {
   "year": 1700,
   "ratio": 14.81
  },
  {
   "year": 1701,
   "ratio": 15.07
  },
  {
   "year": 1702,
   "ratio": 15.52
  },
  {
   "year": 1703,
   "ratio": 15.17
  },
  {
   "year": 1704,
   "ratio": 15.22
  },
  {
   "year": 1705,
   "ratio": 15.11
  },
  {
   "year": 1706,
   "ratio": 15.27
  },
  {
   "year": 1707,
   "ratio": 15.44
  },
  {
   "year": 1708,
   "ratio": 15.41
  },
  {
   "year": 1709,
   "ratio": 15.31
  },
  {
   "year": 1710,
   "ratio": 15.22
  },
  {
   "year": 1711,
   "ratio": 15.29
  },
  {
   "year": 1712,
   "ratio": 15.31
  },
  {
   "year": 1713,
   "ratio": 15.24
  },
  {
   "year": 1714,
   "ratio": 15.13
  },
  {
   "year": 1715,
   "ratio": 15.11
  },
  {
   "year": 1716,
   "ratio": 15.09
  },
  {
   "year": 1717,
   "ratio": 15.13
  },
  {
   "year": 1718,
   "ratio": 15.11
  },
  {
   "year": 1719,
   "ratio": 15.09
  },
  {
   "year": 1720,
   "ratio": 15.04
  },
  {
   "year": 1721,
   "ratio": 15.05
  },
  {
   "year": 1722,
   "ratio": 15.17
  },
  {
   "year": 1723,
   "ratio": 15.2
  },
  {
   "year": 1724,
   "ratio": 15.11
  },
  {
   "year": 1725,
   "ratio": 15.11
  },
  {
   "year": 1726,
   "ratio": 15.15
  },
  {
   "year": 1727,
   "ratio": 15.24
  },
  {
   "year": 1728,
   "ratio": 15.11
  },
  {
   "year": 1729,
   "ratio": 14.92
  },
  {
   "year": 1730,
   "ratio": 14.81
  },
  {
   "year": 1731,
   "ratio": 14.94
  },
  {
   "year": 1732,
   "ratio": 15.09
  },
  {
   "year": 1733,
   "ratio": 15.18
  },
  {
   "year": 1734,
   "ratio": 15.39
  },
  {
   "year": 1735,
   "ratio": 15.41
  },
  {
   "year": 1736,
   "ratio": 15.18
  },
  {
   "year": 1737,
   "ratio": 15.02
  },
  {
   "year": 1738,
   "ratio": 14.91
  },
  {
   "year": 1739,
   "ratio": 14.91
  },
  {
   "year": 1740,
   "ratio": 14.94
  },
  {
   "year": 1741,
   "ratio": 14.92
  },
  {
   "year": 1742,
   "ratio": 14.85
  },
  {
   "year": 1743,
   "ratio": 14.85
  },
  {
   "year": 1744,
   "ratio": 14.87
  },
  {
   "year": 1745,
   "ratio": 14.98
  },
  {
   "year": 1746,
   "ratio": 15.13
  },
  {
   "year": 1747,
   "ratio": 15.26
  },
  {
   "year": 1748,
   "ratio": 15.11
  },
  {
   "year": 1749,
   "ratio": 14.8
  },
  {
   "year": 1750,
   "ratio": 14.55
  },
  {
   "year": 1751,
   "ratio": 14.39
  },
  {
   "year": 1752,
   "ratio": 14.5
  },
  {
   "year": 1753,
   "ratio": 14.54
  },
  {
   "year": 1754,
   "ratio": 14.48
  },
  {
   "year": 1755,
   "ratio": 14.68
  },
  {
   "year": 1756,
   "ratio": 14.94
  },
  {
   "year": 1757,
   "ratio": 14.87
  },
  {
   "year": 1758,
   "ratio": 14.85
  },
  {
   "year": 1759,
   "ratio": 14.15
  },
  {
   "year": 1760,
   "ratio": 14.14
  },
  {
   "year": 1761,
   "ratio": 14.54
  },
  {
   "year": 1762,
   "ratio": 15.27
  },
  {
   "year": 1763,
   "ratio": 14.99
  },
  {
   "year": 1764,
   "ratio": 14.7
  },
  {
   "year": 1765,
   "ratio": 14.83
  },
  {
   "year": 1766,
   "ratio": 14.8
  },
  {
   "year": 1767,
   "ratio": 14.85
  },
  {
   "year": 1768,
   "ratio": 14.8
  },
  {
   "year": 1769,
   "ratio": 14.72
  },
  {
   "year": 1770,
   "ratio": 14.62
  },
  {
   "year": 1771,
   "ratio": 14.66
  },
  {
   "year": 1772,
   "ratio": 14.52
  },
  {
   "year": 1773,
   "ratio": 14.62
  },
  {
   "year": 1774,
   "ratio": 14.62
  },
  {
   "year": 1775,
   "ratio": 14.72
  },
  {
   "year": 1776,
   "ratio": 14.55
  },
  {
   "year": 1777,
   "ratio": 14.54
  },
  {
   "year": 1778,
   "ratio": 14.68
  },
  {
   "year": 1779,
   "ratio": 14.8
  },
  {
   "year": 1780,
   "ratio": 14.72
  },
  {
   "year": 1781,
   "ratio": 14.78
  },
  {
   "year": 1782,
   "ratio": 14.42
  },
  {
   "year": 1783,
   "ratio": 14.48
  },
  {
   "year": 1784,
   "ratio": 14.7
  },
  {
   "year": 1785,
   "ratio": 14.92
  },
  {
   "year": 1786,
   "ratio": 14.96
  },
  {
   "year": 1787,
   "ratio": 14.92
  },
  {
   "year": 1788,
   "ratio": 14.65
  },
  {
   "year": 1789,
   "ratio": 14.75
  },
  {
   "year": 1790,
   "ratio": 15.04
  },
  {
   "year": 1791,
   "ratio": 15.05
  },
  {
   "year": 1792,
   "ratio": 15.17
  },
  {
   "year": 1793,
   "ratio": 15.0
  },
  {
   "year": 1794,
   "ratio": 15.37
  },
  {
   "year": 1795,
   "ratio": 15.55
  },
  {
   "year": 1796,
   "ratio": 15.65
  },
  {
   "year": 1797,
   "ratio": 15.41
  },
  {
   "year": 1798,
   "ratio": 15.59
  },
  {
   "year": 1799,
   "ratio": 15.74
  },
  {
   "year": 1800,
   "ratio": 15.68
  },
  {
   "year": 1801,
   "ratio": 15.46
  },
  {
   "year": 1802,
   "ratio": 15.26
  },
  {
   "year": 1803,
   "ratio": 15.41
  },
  {
   "year": 1804,
   "ratio": 15.41
  },
  {
   "year": 1805,
   "ratio": 15.79
  },
  {
   "year": 1806,
   "ratio": 15.52
  },
  {
   "year": 1807,
   "ratio": 15.43
  },
  {
   "year": 1808,
   "ratio": 16.08
  },
  {
   "year": 1809,
   "ratio": 15.96
  },
  {
   "year": 1810,
   "ratio": 15.77
  },
  {
   "year": 1811,
   "ratio": 15.53
  },
  {
   "year": 1812,
   "ratio": 16.11
  },
  {
   "year": 1813,
   "ratio": 16.25
  },
  {
   "year": 1814,
   "ratio": 15.04
  },
  {
   "year": 1815,
   "ratio": 15.26
  },
  {
   "year": 1816,
   "ratio": 15.28
  },
  {
   "year": 1817,
   "ratio": 15.11
  },
  {
   "year": 1818,
   "ratio": 15.35
  },
  {
   "year": 1819,
   "ratio": 15.33
  },
  {
   "year": 1820,
   "ratio": 15.62
  },
  {
   "year": 1821,
   "ratio": 15.95
  },
  {
   "year": 1822,
   "ratio": 15.8
  },
  {
   "year": 1823,
   "ratio": 15.84
  },
  {
   "year": 1824,
   "ratio": 15.82
  },
  {
   "year": 1825,
   "ratio": 15.7
  },
  {
   "year": 1826,
   "ratio": 15.76
  },
  {
   "year": 1827,
   "ratio": 15.74
  },
  {
   "year": 1828,
   "ratio": 15.78
  },
  {
   "year": 1829,
   "ratio": 15.78
  },
  {
   "year": 1830,
   "ratio": 15.82
  },
  {
   "year": 1831,
   "ratio": 15.72
  },
  {
   "year": 1832,
   "ratio": 15.73
  },
  {
   "year": 1833,
   "ratio": 15.93
  },
  {
   "year": 1834,
   "ratio": 15.73
  },
  {
   "year": 1835,
   "ratio": 15.8
  },
  {
   "year": 1836,
   "ratio": 15.72
  },
  {
   "year": 1837,
   "ratio": 15.83
  },
  {
   "year": 1838,
   "ratio": 15.85
  },
  {
   "year": 1839,
   "ratio": 15.62
  },
  {
   "year": 1840,
   "ratio": 15.62
  },
  {
   "year": 1841,
   "ratio": 15.7
  },
  {
   "year": 1842,
   "ratio": 15.87
  },
  {
   "year": 1843,
   "ratio": 15.93
  },
  {
   "year": 1844,
   "ratio": 15.85
  },
  {
   "year": 1845,
   "ratio": 15.92
  },
  {
   "year": 1846,
   "ratio": 15.9
  },
  {
   "year": 1847,
   "ratio": 15.8
  },
  {
   "year": 1848,
   "ratio": 15.85
  },
  {
   "year": 1849,
   "ratio": 15.78
  },
  {
   "year": 1850,
   "ratio": 15.7
  },
  {
   "year": 1851,
   "ratio": 15.46
  },
  {
   "year": 1852,
   "ratio": 15.59
  },
  {
   "year": 1853,
   "ratio": 15.33
  },
  {
   "year": 1854,
   "ratio": 15.33
  },
  {
   "year": 1855,
   "ratio": 15.38
  },
  {
   "year": 1856,
   "ratio": 15.38
  },
  {
   "year": 1857,
   "ratio": 15.27
  },
  {
   "year": 1858,
   "ratio": 15.38
  },
  {
   "year": 1859,
   "ratio": 15.19
  },
  {
   "year": 1860,
   "ratio": 15.29
  },
  {
   "year": 1861,
   "ratio": 15.5
  },
  {
   "year": 1862,
   "ratio": 15.35
  },
  {
   "year": 1863,
   "ratio": 15.37
  },
  {
   "year": 1864,
   "ratio": 15.37
  },
  {
   "year": 1865,
   "ratio": 15.44
  },
  {
   "year": 1866,
   "ratio": 15.43
  },
  {
   "year": 1867,
   "ratio": 15.57
  },
  {
   "year": 1868,
   "ratio": 15.59
  },
  {
   "year": 1869,
   "ratio": 15.6
  },
  {
   "year": 1870,
   "ratio": 15.57
  },
  {
   "year": 1871,
   "ratio": 15.57
  },
  {
   "year": 1872,
   "ratio": 15.63
  },
  {
   "year": 1873,
   "ratio": 15.93
  },
  {
   "year": 1874,
   "ratio": 16.16
  },
  {
   "year": 1875,
   "ratio": 16.64
  },
  {
   "year": 1876,
   "ratio": 17.75
  },
  {
   "year": 1877,
   "ratio": 17.2
  },
  {
   "year": 1878,
   "ratio": 17.92
  },
  {
   "year": 1879,
   "ratio": 18.39
  },
  {
   "year": 1880,
   "ratio": 18.05
  },
  {
   "year": 1881,
   "ratio": 18.25
  },
  {
   "year": 1882,
   "ratio": 18.2
  },
  {
   "year": 1883,
   "ratio": 18.64
  },
  {
   "year": 1884,
   "ratio": 18.61
  },
  {
   "year": 1885,
   "ratio": 19.41
  },
  {
   "year": 1886,
   "ratio": 20.78
  },
  {
   "year": 1887,
   "ratio": 21.1
  },
  {
   "year": 1888,
   "ratio": 22.0
  },
  {
   "year": 1889,
   "ratio": 22.1
  },
  {
   "year": 1890,
   "ratio": 19.75
  },
  {
   "year": 1891,
   "ratio": 20.92
  },
  {
   "year": 1892,
   "ratio": 23.72
  },
  {
   "year": 1893,
   "ratio": 26.49
  },
  {
   "year": 1894,
   "ratio": 32.56
  },
  {
   "year": 1895,
   "ratio": 31.6
  },
  {
   "year": 1896,
   "ratio": 30.59
  },
  {
   "year": 1897,
   "ratio": 34.2
  },
  {
   "year": 1898,
   "ratio": 35.03
  },
  {
   "year": 1899,
   "ratio": 34.36
  },
  {
   "year": 1900,
   "ratio": 33.33
  },
  {
   "year": 1901,
   "ratio": 34.68
  },
  {
   "year": 1902,
   "ratio": 39.15
  },
  {
   "year": 1903,
   "ratio": 38.1
  },
  {
   "year": 1904,
   "ratio": 35.7
  },
  {
   "year": 1905,
   "ratio": 33.87
  },
  {
   "year": 1906,
   "ratio": 30.54
  },
  {
   "year": 1907,
   "ratio": 31.24
  },
  {
   "year": 1908,
   "ratio": 38.64
  },
  {
   "year": 1909,
   "ratio": 39.74
  },
  {
   "year": 1910,
   "ratio": 38.22
  },
  {
   "year": 1911,
   "ratio": 38.33
  },
  {
   "year": 1912,
   "ratio": 33.62
  },
  {
   "year": 1913,
   "ratio": 34.19
  },
  {
   "year": 1914,
   "ratio": 37.37
  },
  {
   "year": 1915,
   "ratio": 40.48
  },
  {
   "year": 1916,
   "ratio": 30.78
  },
  {
   "year": 1917,
   "ratio": 24.61
  },
  {
   "year": 1918,
   "ratio": 21.0
  },
  {
   "year": 1919,
   "ratio": 18.44
  },
  {
   "year": 1920,
   "ratio": 20.28
  },
  {
   "year": 1921,
   "ratio": 32.76
  },
  {
   "year": 1922,
   "ratio": 30.43
  },
  {
   "year": 1923,
   "ratio": 31.69
  },
  {
   "year": 1924,
   "ratio": 30.8
  },
  {
   "year": 1925,
   "ratio": 29.78
  },
  {
   "year": 1926,
   "ratio": 33.11
  },
  {
   "year": 1927,
   "ratio": 36.47
  },
  {
   "year": 1928,
   "ratio": 35.34
  },
  {
   "year": 1929,
   "ratio": 38.78
  },
  {
   "year": 1930,
   "ratio": 53.74
  },
  {
   "year": 1931,
   "ratio": 71.25
  },
  {
   "year": 1932,
   "ratio": 73.29
  },
  {
   "year": 1933,
   "ratio": 69.83
  },
  {
   "year": 1934,
   "ratio": 72.36
  },
  {
   "year": 1935,
   "ratio": 54.19
  },
  {
   "year": 1936,
   "ratio": 77.09
  },
  {
   "year": 1937,
   "ratio": 77.44
  },
  {
   "year": 1938,
   "ratio": 80.39
  },
  {
   "year": 1939,
   "ratio": 88.84
  },
  {
   "year": 1940,
   "ratio": 99.76
  },
  {
   "year": 1941,
   "ratio": 99.73
  },
  {
   "year": 1942,
   "ratio": 90.57
  },
  {
   "year": 1943,
   "ratio": 77.67
  },
  {
   "year": 1944,
   "ratio": 77.67
  },
  {
   "year": 1945,
   "ratio": 67.4
  },
  {
   "year": 1946,
   "ratio": 43.67
  },
  {
   "year": 1947,
   "ratio": 48.73
  },
  {
   "year": 1948,
   "ratio": 47.07
  },
  {
   "year": 1949,
   "ratio": 48.61
  },
  {
   "year": 1950,
   "ratio": 47.14
  },
  {
   "year": 1951,
   "ratio": 39.12
  },
  {
   "year": 1952,
   "ratio": 41.16
  },
  {
   "year": 1953,
   "ratio": 41.04
  },
  {
   "year": 1954,
   "ratio": 41.01
  },
  {
   "year": 1955,
   "ratio": 39.24
  },
  {
   "year": 1956,
   "ratio": 38.5
  },
  {
   "year": 1957,
   "ratio": 38.5
  },
  {
   "year": 1958,
   "ratio": 39.27
  },
  {
   "year": 1959,
   "ratio": 38.34
  },
  {
   "year": 1960,
   "ratio": 38.27
  },
  {
   "year": 1961,
   "ratio": 37.82
  },
  {
   "year": 1962,
   "ratio": 32.22
  },
  {
   "year": 1963,
   "ratio": 27.34
  },
  {
   "year": 1964,
   "ratio": 27.04
  },
  {
   "year": 1965,
   "ratio": 27.04
  },
  {
   "year": 1966,
   "ratio": 27.04
  },
  {
   "year": 1967,
   "ratio": 22.56
  },
  {
   "year": 1968,
   "ratio": 18.29
  },
  {
   "year": 1969,
   "ratio": 23.16
  },
  {
   "year": 1970,
   "ratio": 20.54
  },
  {
   "year": 1971,
   "ratio": 26.66
  },
  {
   "year": 1972,
   "ratio": 34.75
  },
  {
   "year": 1973,
   "ratio": 38.21
  },
  {
   "year": 1974,
   "ratio": 33.9
  },
  {
   "year": 1975,
   "ratio": 36.51
  },
  {
   "year": 1976,
   "ratio": 28.76
  },
  {
   "year": 1977,
   "ratio": 32.05
  },
  {
   "year": 1978,
   "ratio": 35.8
  },
  {
   "year": 1979,
   "ratio": 27.69
  },
  {
   "year": 1980,
   "ratio": 29.66
  },
  {
   "year": 1981,
   "ratio": 43.65
  },
  {
   "year": 1982,
   "ratio": 47.24
  },
  {
   "year": 1983,
   "ratio": 37.03
  },
  {
   "year": 1984,
   "ratio": 44.26
  },
  {
   "year": 1985,
   "ratio": 51.68
  },
  {
   "year": 1986,
   "ratio": 67.25
  },
  {
   "year": 1987,
   "ratio": 63.84
  },
  {
   "year": 1988,
   "ratio": 66.95
  },
  {
   "year": 1989,
   "ratio": 69.49
  },
  {
   "year": 1990,
   "ratio": 79.78
  },
  {
   "year": 1991,
   "ratio": 89.83
  },
  {
   "year": 1992,
   "ratio": 87.47
  },
  {
   "year": 1993,
   "ratio": 83.85
  },
  {
   "year": 1994,
   "ratio": 72.79
  },
  {
   "year": 1995,
   "ratio": 74.78
  },
  {
   "year": 1996,
   "ratio": 74.89
  },
  {
   "year": 1997,
   "ratio": 67.91
  },
  {
   "year": 1998,
   "ratio": 53.24
  },
  {
   "year": 1999,
   "ratio": 53.26
  },
  {
   "year": 2000,
   "ratio": 55.96
  },
  {
   "year": 2001,
   "ratio": 61.95
  },
  {
   "year": 2002,
   "ratio": 67.32
  },
  {
   "year": 2003,
   "ratio": 74.22
  },
  {
   "year": 2004,
   "ratio": 61.3
  },
  {
   "year": 2005,
   "ratio": 60.7
  },
  {
   "year": 2006,
   "ratio": 52.2
  },
  {
   "year": 2007,
   "ratio": 51.91
  },
  {
   "year": 2008,
   "ratio": 58.17
  },
  {
   "year": 2009,
   "ratio": 66.27
  },
  {
   "year": 2010,
   "ratio": 60.64
  },
  {
   "year": 2011,
   "ratio": 44.75
  },
  {
   "year": 2012,
   "ratio": 53.58
  },
  {
   "year": 2013,
   "ratio": 59.31
  },
  {
   "year": 2014,
   "ratio": 66.38
  },
  {
   "year": 2015,
   "ratio": 73.98
  },
  {
   "year": 2016,
   "ratio": 72.96
  },
  {
   "year": 2017,
   "ratio": 73.76
  },
  {
   "year": 2018,
   "ratio": 80.77
  },
  {
   "year": 2019,
   "ratio": 85.97
  },
  {
   "year": 2020,
   "ratio": 86.3
  },
  {
   "year": 2021,
   "ratio": 71.58
  },
  {
   "year": 2022,
   "ratio": 82.93
  },
  {
   "year": 2023,
   "ratio": 80.25
  },
  {
   "year": 2024,
   "ratio": 84.62
  },
  {
   "year": 2025,
   "ratio": 85.95
  }
 ],
 "annual_source": {
  "source": "Lawrence H. Officer and Samuel H. Williamson, 'The Price of Gold, 1257-Present', MeasuringWorth",
  "url": "https://www.measuringworth.com/datasets/gold/result.php?goldsilver=on&year_source=1687&year_result=2025"
 }
}