1. The price of an ounce of gold pided by the price of an ounce of silver. The mint ratio aims to examine the relationship between gold and silver prices.
2. A fixed rate of exchange for gold and silver.
|||As a large producer of both gold and silver, the United States at one time participated in bimetallism, a monetary standard where the value of the country's monetary unit is defined as the equivalent of either a certain quantity of gold or silver. Such a system establishes a fixed rate of exchange for the two metals - or a mint ratio. If the mint ratio was 15, for example, one could trade 15 ounces of silver for one ounce of gold. Gold and silver are measured in units called a "troy ounce," which is equal to 31.1034768 grams.