Live Metal Prices
Purity Grams Oz Troy Oz
9 carat £--.-- £--.-- £--.--
18 carat £--.-- £--.-- £--.--
22 carat £--.-- £--.-- £--.--
Purity Grams Oz Troy Oz
500 £--.-- £--.-- £--.--
925 £--.-- £--.-- £--.--
999 £--.-- £--.-- £--.--
Purity Grams Oz Troy Oz
900 £--.-- £--.-- £--.--
950 £--.-- £--.-- £--.--
999 £--.-- £--.-- £--.--
Purity Grams Oz Troy Oz
900 £--.-- £--.-- £--.--
950 £--.-- £--.-- £--.--
999 £--.-- £--.-- £--.--

Last updated: 19/11/2017 01:10:29

Common gold questions

Does gold back the American dollar?

The American Dollar has a history that goes well back before the United States of America declared its independence from British rule.

At the time of the American Dollar's inception and approval by the Congress in 1786, it was merely a symbolic act and no actual coins or bills were created until the signing of the Coinage Act of 1792, when the dollar was produced in coins rather than the paper money that we know today. At that time, the American Dollar coin represented 24.75 grains of gold and the dollar coins were composed of silver.

In 1900, the United States government moved their money to the Gold Standard, which meant that all money being used in the country was backed by a certain amount of gold that was held in the Federal Repository. At that time, the value of one dollar was set as equal and redeemable to the amount of 23.22 grains of gold.

In the years that followed, the Gold Standard was suspended and reinstated several times until 1963, when the United States followed the example of most other nations of the world in making their money a fiat currency, one that is not directly backed by any physical amount of gold or other precious metals.

Related Pages:

Read more common gold questions.

"About the best prices we were able to obtain were at Gold-Traders (UK)"
the guardian
"..the trick with these sites is finding one that will give you a quote in advance - this is where Gold Traders stands out from many competitors."
the telegraph

Pre-decimal Calculator

Calculate the value of your pre-decimal coins.

Value your coins

How Old is Your Gold?

Use our Hallmark Identification Wizard.

More info

What is Your Gold Worth?

Get the real value of your gold.

Click here

Gold Traders Latest News

Can not load XML: Reference to undefined entity 'raquo'. Error has occured while trying to process http://www.gold-traders.co.uk/blog/feed/
Please contact web-master

Secure and Trusted

Gold-Traders rated 4.8 / 5 based on 468 Gold-Traders reviews.

top rated

Get in Touch

0800 327 7878

Social

Share This Page