Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


Search Gold Prices
Gold Price
[Most Recent Quotes from]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« MPs reject Brexit bill amendment to protect EU citizens in UK | Main | Mario Draghi Hints Trump Will Be Responsible For The Next Financial Crisis »

The Price Of Gold If The U.S. Was Still On The Gold Standard


The U.S. was on a bi-metal or gold standard up until the "Nixon Shock" of 1971.

What would the value of gold per ounce need to be today to backstop the amount of U.S. currency currently in circulation?

While it is a purely hypothetical exercise, the answer is meaningful and may surprise you .

As most of you know, while the U.S. monetary system is based on paper money backed by the full faith and credit of the federal government. That is, U.S currency is no longer valued in, backed by, nor officially convertible into gold.

Yet through much of American history, the United States was on a metallic standard of one variety or another. See Wikipedia's History of the U.S. Dollar. The first devaluation of the U.S. dollar was a result of the Coinage Act of 1834. This Act changed the 15:1 ratio of silver to gold to a 16:1 ratio by reducing the weight of the nation's gold coinage. The value in gold of the U.S. dollar was thus reduced by 6%.

read more....

An interesting read from Michael Fitzsimmons

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.





Winners of the GoldDrivers Stock Picking Competition 2007 



 Follow us on TWITTER @goldprices



PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>