As at the birth of Turd's new website the ratio is 43.
Where is it headed?
There is a wide body of believers within the contrarian community that the ratio is inexorably headed down towards 15:1 in the long term.
This roughly reflects the relative amount of gold and silver in the earth's crust and relative levels of mining.
The Coinage Act of 1792 established a 15:1 ratio in the USA: http://www.constitution.org/uslaw/coinage1792.txt
France followed in 1803 with a 15.5:1 ratio.
From 1816 to 1919 the definition of £1 in the UK was either one gold sovereign (0.2354 troy oz. of gold) or four sterling (92.5%) silver crowns, ie about 3.36 troy ounces, resulting in a similar ratio to France and the USA.
But due to a hundred years of industrial consumption of silver, the ratio of above ground refined silver to refined gold is no longer in the region of 15:1. It is more like 1:3. And the ratio of silver to gold produced every year after discounting supply absorbed by industrial demand is about 6.7:1.
Because of these fundamentals, Eric Sprott has gone on record repeatedly with the view that 10:1 is a credible target.
I guess it comes down to how far silver will travel on gold's coat-tails as big money (public and private) bids gold up to escape systemic collapse.
Since there is so little silver out there, I don't think it will take much in the way of demand to keep silver at least apace with gold. In my view, the true silver-to-gold ratio is not 15:1 but 1:12 - for this reflects the current market value of all the silver in existence (c $80bn) versus all the gold in existence (c $10tn).
Considering that there are 100 billionaires in the world with a net worth of more than $10bn, the ten largest companies in the world each have a market capitalisation of more than $200bn, and the size of the global bond market is more than $80,000 billion, I don't think it is a tough task to envisage what will happen to the world's $80bn of silver when the race for $10tn of gold begins to accelerate.