We have documented more than 200 relative values of gold and silver across almost 3000 years (2500 bce–400 ce) to establish value benchmarks for essentially pure metal. Our aim is to improve understanding of ancient economies by enabling regional and temporal comparisons of these relative values. First, we establish silver as an early, reliable benchmark for valuing gold of varying purity before implementation of parting. Whilst purity accounted for two to threefold variation in the value of gold, we conclude that availability was more influential. Access to Nubian gold until about 1100 bce seems an important influence on gold-silver value ratios in Egypt and the Near East, which increased significantly following loss of this source. This investigation yields a suite of relative values for essentially pure gold and silver, subdivided by regions and intervals from 2500 bce–400 ce. These will enable future comparisons of precious metal-denominated costs of labour and commodities, including with today. Access to Nubian gold until about 1100 BCE seems an important in fluence on gold-silver value ratios in Egypt and the Near East, which increased signi ficantly following loss of this source. This investigation yields a suite of relative values for essentially pure gold and silver, subdivided by regions and intervals from 2500 BCE– 400 CE. These will enable future comparisons of precious metal- denominated costs of labour and commodities, including with today. Introduction This study focuses on the material value and relative worth of gold and silver from 2500 BCE to 400 CE within most advanced civilizations of that period (Fig. 2021). The lead sulphide, galena, and weathered derivatives, which can include native and horn silver Data are scarce before the seventh century BCE with substantial gaps, especially 1750 –1500 BCE and 1100–700 BCE, so what can we make of such variable and incomplete data? First, we applied a breakpoint at 550 BCE to separate values prior to adoption of parting ( Fig. 4 ) from later GSRs, essentially based on pure gold and silver bullion ( Fig. 6 ). These plots are strikingly different, and our first step towards understanding them is to brie fly consider ancient use and sources before focusing on their spatial and archaeological contexts. Ancient use and value of gold and silver The adjective ‘precious’ has a duality that probably existed since each metal was first held in the hand of man. 26 Malko ( 2014, 133) sug- gests that significant Kassite control over distribution of highly valued lapis lazuli and export of chariots and horses to Egypt facilitated their acquisition of raw gold and precious stones. Other logical gold sources prior to 1100 BCE include Anatolia, Caucasia and Armenia for northern and western Mesopotamia, and Iran and Afghanistan for Babylonia (Steinkeller 2016). Steinkeller contrasted substantial quantities of gold and silver in twenty-fourth century BCE Ebla with apparent scarcity in contemporary Babylonia. These led to abundant silver in Babylonia (Steinkeller 2016), but unmatched by gold, as indicated by the Figure 9. Twenty-four GSR values for higher-quality gold, 2450 – 500 BCE, differentiated by region and gold quality, and showing Egyptian control over gold mines in Nubia. (Sources: GSR values: Online Appendix; Egyptian control of gold mines in Nubia: detailed within the text and sourced from Bard 2022; Grandet 2022; Klemm & Klemm 2013; Tallet 2020; Wilkinson 2010.) James Ross & Leigh Bettenay 412 https://doi.org/10.1017/S0959774323000355 Published online by Cambridge University Press peak GSR value of 21 in Ur III. These pro- posed GSR values, regions and intervals are sum- marized in Table 1 . They provide a foundation for Table 1. Representative GSR values for relatively pure gold and silver by region and time intervals 2500 BCE– 400 CE. Region ~2500 –1100 BCE ~1100–355 BCE 355 BCE–~320 CE ~320–400 CE Southeast & north Mesopotamia 8–10 12 –15 West Mesopotamia & Levant 6–7 Anatolia 8–10 12 Egypt 3.33 12 –14 14 –18 Greece from 550 BCE 12–15 10 –14 Rome 11–12 ?14 –18 Sources: Figs 4, 6 and 9; Online Appendix; and accompanying text. Blank cells indicate no data available. Ultimately, when Egypt finally lost Nubia shortly after 1100 BCE, the GSR increased signi fi- cantly. Variation in the GSR narrowed after 550 BCE, most likely in response to essentially pure gold bul- lion, more diverse sources and increased regional integration. This investigation of GSR values highlights the benchmark role of silver, especially prior to about 550 BCE, despite the higher value of gold. Prices expressed in silver can be applied to first-order com- parisons of ancient costs within and between regions and over time, subject to intervals of scarcity. Earlier values from Ebla may re flect gold from Kablul, Cilicia (Biga & Steinkeller 2021, 16 & 26); Ebla also acquired gold from Egypt, with a GSR of 5. Evidence for GSRs elsewhere in Anatolia is restricted to Old Assyrian trade ( Fig. 5 ), which indi- cates similar values to Assur. 22. Absence of domestic silver production, and distance from alternative sources, probably suppressed Egyptian GSRs and increased gold supply in the Near East. 23. Tallet ( 2020) interpreted weaker Egyptian control by 2350 BCE, with Kerma culture 2450 –2050 BCE. Shapes, qualities and puri fication, in Studies in Economic and Social History of the Ancient Near East in Memory of Péter Vargyas , eds Z. Csabai & T. Grüll. Budapest: Department of Ancient History, University of Pécs, 393–422. Waetzoldt, H., 1985. Rotes Gold? Oriens Antiquus, 24, 1 –16. Weigall, A.E.P., 1908. Weights and balances, in Catalogue Général des Antiquités Egyptiennes du Musée du Caire Nos 31271 – 31670, I – XIII. Cairo: L ’Institut Francais d’Archaeologie Orientale. Wilkinson, T.C., 2010. The Rise and Fall of Ancient Egypt . London: Bloomsbury. Wood, J.R., Y.-T. Hsu & C. Bell, 2021. Sending Laurion back to the future: Bronze Age silver and the source of confusion.