Priceless pot of gold discovered

[Jay]

Priceless pot of gold discovered in 13th century castle of Richard the Lionheart and his Crusaders... and there may be more

http://www.dailymail.co.uk/news/art...tle-Richard-The-Lionhart-Crusaders--more.html

 

[pmbug]

So that's where my great, great, great grandpa put that ...

 

[mike]

Everything has a price.

 

[benjamen]

Did anyone else catch this line:
"Just two of the 108 gold dinars could have provided for an extended family of 12 to 24 people for a month"

I wonder how much gold was in each piece. If we could find that out, it would pin point a closer approximate value of gold almost 1000 years ago.

 

[pmbug]

Islamic dinars had known specifications:

http://goldrate.info/gold_rate/goldcoins.the-dinar.php

Also, previous thread on this find:

http://www.pmbug.com/forum/f2/hoard-gold-coins-found-israel-crusades-site-1241/

 

[benjamen]

Islamic dinars had known specifications:

http://goldrate.info/gold_rate/goldcoins.the-dinar.php

Also, previous thread on this find:

http://www.pmbug.com/forum/f2/hoard-gold-coins-found-israel-crusades-site-1241/

Your first link is blocked, but according to the second the 108 coins represent 14 ounces. If 2 coins could support a large family for a month, then (14/108)*2 = 0.259 ounces of gold could support a large family for a month.

Unless you think you can support a large family on $411 a month (0.259*1588), I think gold is undervalued today compared to that time period.

 

[pmbug]

Your first link is blocked, ...

4.25 grams of 22ct gold / 1366.oz ... (0.1252 troy oz. AU)

Silver Dirhams Coins - 1, 2, 5, 10, and 20 dirhams.

Gold Dirhams Coins - 1/2, 1, 2, 5, and 8 dinars.

According to Islamic law, the dinar is a gold coin is 4.25 grams @ 22k
According to Islamic law, the dirham a silver coin is 2.975 grams of pure silver.
According to Islamic law, 7 gold dinars must be equal in weight to 10 silver dirhams.
∴Half dinar gold coins @22k = 1/20 troy oz gold coins @24k
∴the 2 dinar gold coin @22k = 1/4 troy oz gold coins @24k
∴the 8 dinar gold coins @22k = 1 troy oz gold coin @24k
...

 

[DCFusor]

I *have* supported a middling family on under 500/month. It's not that hard, but look at the situations now and then.

There was no such thing as big screen TV - and cable bills - same for me.
No rent - you were a freeholder - same here.
No expensive medical - they didn't have it, and we chose to do without.
No air conditioning - ditto.
No power bill...no phone bill, no preprocessed boxes of cereal that cost 10 times the value of the grain in the box.

The definition of "support" has changed quite a bit - thus your argument for gold being undervalued because of that is rendered questionable. You have glass windows! Did they? See what I'm saying here?