1964, the last year in which #plata coins were minted. The 25 and 10 cent coins prior to 1965 were made up of 90% silver and 10% copper.
Average family income in 1964: $6,600.
The price of silver was $1.29 per ounce. Therefore, the average family income was 5,116 ounces of silver per year.
At $100 per ounce, this amounts to $511,600 per year.
Even if we review silver prices from 2024, the average was $25 per ounce, which would have been $127,900 for 5,116 ounces of silver. The actual average family income for 2024 was $83,000.
If you wonder why a family needs two incomes to survive now, it's because the government removed silver from coins and eliminated the US dollar from the #oro standard (1971).
Those decisions allowed Congress to accumulate massive debts and the #ReservaFederal to manipulate interest rates and currency to finance it all.
History repeats itself. As the Romans reduced the silver content of their monetary supply, their empire declined.
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