Gold has been mankind’s, gold eagle coin
, most desirable asset for more than 3,000 years. It freely circulated as everyday money – except during times of great economic turmoil – from the time of the Ancient Greeks and Romans right up to 1933. Until that year, the value of the great majority of gold, gold eagle coin
, coins was the same as their face value.
That meant a $20 gold coin could be freely exchanged for 20 one-dollar bills. And 20 one-dollar bills could be exchanged, gold eagle coin
, for one $20 gold coin. It was a two-way system that promoted a stable value for our money.