Salary Per Day

It is often related that a wage per day in Roman times was essentially 1/10 troy oz silver. Adapting this idea to modern times, consider deriving this value (and hence the value of 1 troy oz silver) using an average salary per day.

Consider a hypothetical yearly net (i.e. what the worker actually takes home) salary of $42,333 / year. Therefore, the salary per day is $42,333/365.25 = $115.90 / day.

This net income amount represents 1/10 troy oz silver. Therefore, a valuation for silver is 10*$115.90 = $1,159 / troy oz.

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