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What made the gold standard era special?
RWB
Posts: 8,082 ✭
To the precious metal enthusiasts:
Most coin collectors look back at the gold standard era as being a special time. What, in your opinion, made (or makes) the period from 1900-1933 of unusual interest to collectors?
Most coin collectors look back at the gold standard era as being a special time. What, in your opinion, made (or makes) the period from 1900-1933 of unusual interest to collectors?
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<< <i>To the precious metal enthusiasts:
Most coin collectors look back at the gold standard era as being a special time. What, in your opinion, made (or makes) the period from 1900-1933 of unusual interest to collectors? >>
Well brother, I guess you could boil it down to precious metals made money real money.
In 1916 we had design changes for the Dime, quarter, and half which resulted in a few key dates. 1921 was also a special year, but thats about it.
There was a lot of geopolitical activity during that time, but dont know how that relates to coin collecting.
Knowledge is the enemy of fear
hardship to survive, lack of available resources, and etc...
everything!
<< <i>To the precious metal enthusiasts:
Most coin collectors look back at the gold standard era as being a special time. What, in your opinion, made (or makes) the period from 1900-1933 of unusual interest to collectors? >>
I am not especially interested in the 1900-1933 period. From 1834-1933 (100 years) the USA issued gold coins of uniform weight and fineness with few design changes. That is a long run for sound currency.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
hardship to survive, lack of available resources, and etc...
The hard money era or gold standard gets a bad rap for the misguided actions of bankers. We've already proved that they will try to take advantage of the monetary system regardless if there is a gold standard or not. The problems/panics/bank failures in the 19th century can be traced back to cheapening of the currency in most every case. Several times wars resulted and the gold standard not being adhered to (Civil War, WW1). Hard money didn't even get restored following the civil war for more than a decade. It's simple to blame gold, most every revisionist does. But in nearly every case you can trace the root problem back to inflation of the currency, and cheap credit, the proverbial boom/bust cycle. Yes, even with a gold standard the bankers found ways to dilute gold by either lending too much of it out (over-leveraging loans) or just plain printing too much currency. But, there was plenty of credit to expand the nation's industries in the 1800's.
roadrunner