You get 117.9 ounces of silver. So, if you owned 118 ounces of silver, you could cover your expenses for a month. This is an approximate budgetary solution. Still, with the inflation hedging model and an IRA Gold account, you can get out of trouble. Whether it's a transition between jobs or a family emergency, you have at least a little bit of protected purchasing power.
Not only is gold worth significantly more per ounce than silver, but it's also the denser of the two metals, making a specific volume of gold worth much more than an equal volume of silver. The commonly accepted reasons why gold is more expensive than silver, despite its relative abundance, are that gold is used more in jewelry, gold is considered more of an “alternative currency” than silver, and central banks and individual investors demand it more than silver. Of course, this does not take into account personal preferences or the investor's views on the future prospects of both gold and silver.
