Hey Everyone
The Power of Silver - What could you buy for R1 back in 1969?
Click on the i (top right hand corner) at the end of the video for your vote. Thanks
Sadly there isn't much data available however i found the following:
A loaf of bread was 9c over R10 a loaf now!
500g steak - 15c - R80 a kilo now if your lucky
Lt.of Milk - 7c - R11 a lt. today
Lt. of Petrol (gas) - 10c a lt. now over R15 a lt.
Just a few examples. However the old R1 coin has a hidden secret and that is Silver! A very high fineness of 0.800.
What this means is your old R1 of 1969 today is worth a hell of a lot more that your R1 today even though they share the same intrinsic value.
Your old R1 coin weights 15g with 0.800 fineness the amount of silver is 12g x $5.71 (as priced 26/08/2018) = R81.42
YES your old R1 from 1969 is worth R81.42 (although i stated R85 when I made this video)
Your New R1 that's in your pocket well thats a different story. Although the South African reserve bank keep gold reserves this doesn't seem to counter the depreciating currency.
Your R1 today gets you:
Not a lot sadly!
Loose chewing gum called chappies
Sim card
There used to be a R5 store until it was renamed the Crazy Store for obvious reasons.
Anyway thanks for watching and hope you enjoy the video. Hopefully you take something away from it and start looking for those old silver coins.
Dealers are advertising they want them....why let them have it!
If you have any questions you are welcome to drop me an email which is on my channel.
I use this site for all silver calculations which includes fineness.
www.silver-calculator.com/
Hit that LIKE button, COMMENT and SUBSCRIBE if you haven't already.
Cheers and thanks again for watching.