The Silver to Gold Ratio In Spanish Philippines

The silver to gold ratio refers to how much silver one needs to buy gold. For example if you need 10 grams of fine silver to purchase a gram of pure gold, the silver to gold ratio is 10:1. 

During the latter half of the 19th century, the Casa de Moneda de Manila began minting 21 karat gold coins. Each peso coin weighed 1.6915 grams and was also available in bigger denominations such as two and four pesos. 



Source: https://en.numista.com/catalogue/pieces34262.html

To complement the peso gold coins, the mint also created 90% silver centimo coins in denominations of 10, 20, and 50 centimos. The 50 centimos coins weighed 12.98 grams.

This means that 25.96 grams of 90% silver were equivalent to 1.6915 grams of 21 karat gold.

So if a 90% silver coin weighing 25.96 grams was equivalent to a 87.5% gold coin weighing 1.6915 grams, how many grams of 100% silver were needed to purchase a gram of 100% gold? 

The answer is 15.79 grams of 100% silver were equivalent to 1 gram of 100% gold. 

In other words, the silver to gold ratio back then was about 16:1.

It is believed that the ratio of silver to gold in the Earth's crust is also 16:1.

In 1881, the silver centimos were devalued from 90% silver to 83.5%. By 1897, the new pesos being minted were no longer gold but 90% silver weighing about 25 grams each.



Source: https://www.ngccoin.com/price-guide/world/philippines-peso-km-154-1897-cuid-1112353-duid-1519321

We were on a silver standard for much of the US Occupation period. The last time we had a silver standard was during the Commonwealth period.

During the latter half of the 20th century, our coins were made from aluminum, brass, zinc, copper, stainless steel and nickel. 

Today, most coins circulating are made of either brass, copper, or nickel-plated steel (not even stainless steel).

Sources:

https://en.wikipedia.org/wiki/Philippine_peso

https://en.wikipedia.org/wiki/Coins_of_the_Philippine_peso

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