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Q: Historical price of gold data back to antiquity ( No Answer,   1 Comment )
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Subject: Historical price of gold data back to antiquity
Category: Business and Money > Economics
Asked by: ckent-ga
List Price: $55.00
Posted: 30 Nov 2006 02:11 PST
Expires: 30 Dec 2006 02:11 PST
Question ID: 786920
What are the historical prices of gold, against the US Dollar, UK
Pound, and other world-leading currencies going back to antiquity?  I
want to go back at least 2,000 years, so I think I want whatever were
the largest civilisations' currencies in the middle ages, dark ages,
Roman empire, and ancient Greece.  I don't know if it's possible to go
back as far as Sumeria.  Ancient eastern civilisations would be nice to have.

I am aware that gold prices have been measured using different weights
over history.  A better answer would standardize the weights
throughout the answer, but I believe this is something I could easily
convert myself later, so it is (probably) not necessary.

The same goes for purity levels.  I am hoping 24ct (100% pure) is
something the answer can standardize upon, but it occurs to me that it
may not always have been achievable to obtain throughout history.  A
good answer will take the most sensible approach.

I am aware that some currencies did contain an amount of gold in their
coinage, but I am not sure if this was ever the sole reason for the
price of gold (in that currency).  A better answer will note this
effect over time, if it is important to know.

The same applies to gold reserves which were held for some currencies.
I am not sure if this ever was the sole reason for the price of gold
(in that currency).  A better answer will note this effect over time,
if it is important to know.

If there is more than one price for any given moment and currency,
then I would like the most central location, or most official price,
applicable.  A good answer will take the most sensible approach, with
multiple data if necessary.  In which case, this should also apply to
any "street" prices that deviate substantially from a mandated price
that is of limited historical validity.

The answers can come in a table of numbers, or more likely a bunch of
tables.  I don't need graphs.  Each table should have at least one
currency, time period, and price of gold.  Additionally it may contain
data related to the considerations mentioned above, such as purity of
purchased gold, the amount of gold within the coinage, and the
percentage of the currency backed by gold.

An acceptable answer will have some kind of continuity through history
(assuming this is possible), from the Euro to the Romans.  Of course I
expect to see currencies begin and end through history, such as the
two or three German ones last century.

An acceptable answer will identify updates to currencies when
governments changed them.  This would include decimilization, but also
probably invasions and independence.

The maximum detail I need is one data point per year (I don't know the
economic convention for settling on a yearly value ... January 1st? 
Averaging?)  Naturally, the further back you go, the less frequent the
data will be.  Best estimates are perfectly fine.  Anything is better than nothing.

Finally is the question of exactly which currencies to include.  One
currency per time period might be enough, but depending on the time
period, this assumption may be wrong.  I am also not sure if this
question is worth a higher price:  Please tell me if there is more
information I should pay more for.  The background expectation is to
see those currencies that are reported regularly in the news, such as
US, UK, Euro and Japan.  So five at any one time is probably enough.
I expect the maximum number will probably impose itself, depending on
which period of history is being measured.

I will give a $10 tip if you can include all Australian currency
(dollar, pound, anything earlier which is colony-based) back to 1788.

I will probably tip if there is a chunk of tangential but interesting
related information provided that didn't occur to me to ask for.

Please be aware that I am asking four other follow-up questions to do
with the historical price of money and other items.

Clarification of Question by ckent-ga on 02 Dec 2006 04:57 PST
By second-guessing all the clarifications, this looks too complicated.
Once per century will be fine.

All I basically want to get is:

"In the 19th century it cost $$$$$ ..."
"In the 18th century it cost  ..."
"In the 17th century it cost  ..."
...

That's it.
Answer  
There is no answer at this time.

Comments  
Subject: Re: Historical price of gold data back to antiquity
From: probonopublico-ga on 30 Nov 2006 02:26 PST
 
As far as I know the Iceni Banks never published Gold Prices but I am
sure that the Bank of Rome will have records going back to 700 BC or
so.

I wouldn't be surprised if Digsalot knows a lot.

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