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Although gold has a bigger reputation today as a monetary metal, historically it was often deemed too valuable for everyday transactions. For the most part, common people in places like ancient Rome used silver to buy daily staples like grain or wine. As a result, silver has a strong reputation through monetary history as the “people’s money.”

Even today, silver is still much more widely accessible. With one ounce of gold being 70 times more expensive than an ounce of silver, it’s difficult for someone who is just starting to accumulate wealth to own gold.

Visualizing silver

What do savings and debt look like, using the “people’s money”? Below is everything from the average pay cheque to global sovereign debt visualized as silver cubes.

1. A median U.S. family brings in $2,355 per pay period (semi-monthly) pre-tax

Visual Capitalist: Putting a graphic perspective on silver  

2. However, the median American family only has about $5,000 of savings

Visual Capitalist: Putting a graphic perspective on silver  

3. The standard silver delivery bar holds 1,000 ounces of silver

Visual Capitalist: Putting a graphic perspective on silver  

4. Average household debt is $98,312, with mortgage debt being the primary component

Visual Capitalist: Putting a graphic perspective on silver  

5. A Lamborghini worth over $400,000 costs the equivalent of a silver cube with 16-inch (0.4-metre) sides

Visual Capitalist: Putting a graphic perspective on silver  

6. Using a silver price of about $18 an ounce, here’s what $1 million looks like

Visual Capitalist: Putting a graphic perspective on silver  

7. Every day, the world’s mines produce about 75 tonnes of silver, worth over $44 million

Visual Capitalist: Putting a graphic perspective on silver  

8. Silver Eagle sales have jumped considerably since the financial crisis

Visual Capitalist: Putting a graphic perspective on silver  

9. When the Hunt brothers tried to corner the silver market, they hoarded 200 million ounces

Visual Capitalist: Putting a graphic perspective on silver  

10. Today, almost 900 million ounces of silver is mined each year

Visual Capitalist: Putting a graphic perspective on silver  

11. JP Morgan’s market capitalization, in comparison to previous cubes

Visual Capitalist: Putting a graphic perspective on silver  

12. All silver ever mined would not compare to the Fed’s balance sheet, which is now $4.5 trillion

Visual Capitalist: Putting a graphic perspective on silver  

13. Global sovereign debt is 13 times bigger than all previous cubes combined

Visual Capitalist: Putting a graphic perspective on silver  

Liked our visualizations of silver cubes? Don’t forget to check out 11 stunning visualizations of gold.

The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature and use of money.

Source: http://resourceclips.com/2017/03/15/visual-capitalist-putting-a-graphic-perspective-on-silver/

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