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How many currencies are backed by gold? Certainly not the USD.
by craftyguy 9y ago
How many currencies are backed by gold? Certainly not the USD.
- LyndsySimon 9y agoNot today, but historically it was. See the Coinage Act of 1792, which set a "dollar" as 371 4/16 grains of silver or 24 3/4 grains of gold.
- paulddraper 9y agoPrior to 1930, pretty much every western currency was backed by gold (and sometimes silver).