In 1477 silver was king, the Spanish silver coin was universally accepted money, and was equal in today money of $800/oz and more valuable than gold. Modern proof comes of such in the recognition of US military ranks that were modeled after European military ranks. A 1st lieutenant has a silver bar, and lowly 2nd lieutenant has gold bar. A lieutenant colonel has a silver oak leaf, but the major has a gold oak leaf. Full bird colonels have a silver eagle, and all generals have silver stars. Currently, the gold-silver ratio is 73:1. That will change to 16:1, the historical ratio of US tradition money, such as, the double eagle gold coin and the Franklin Liberty silver coin, as to their precious metal content relative to face value, when bullion really flies in late 2010, when gold hits 2750$/oz and silver moves to 172$/oz, when silver shines.
Derrick