Gold standard
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A gold standard is a monetary system in which the standard economic unit of account is defined by a fixed quantity of gold. The gold standard was the basis for the international monetary system from t
Gold certificates were used as paper currency in the United States from 1882 to 1933. These certificates were freely convertible into gold coins.
The British gold sovereign or £1 coin was the preeminent circulating gold coin during the classical gold standard period.
Huge quantities of $20 double eagles were minted as a result of the California gold rush.
Russian ruble note of 1898, with text saying it is worth 17.424 dolya (0.7742 grams) of gold
Reserve currency
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A reserve currency is a foreign currency that is held by governments, central banks or other monetary authorities as part of their foreign exchange reserves. The reserve currency can be used in intern
John Maynard Keynes (right) and Harry Dexter White helped to draft the provisions of the post-war financial system. Here, they meet at the inaugural meeting of the International Monetary Fund, 1946.
