Re: [DL] Weight of gold coins

[Frempath2@netscape.net]

I did a little looking and was obviously wrong earlier with the $50/ounce figure. Silver was another specie metal which was minted at .78 ounce per silver dollar coin.

Another item I don't know if most folks know is that paper money was universally printed, overprinted, and despised.  People believed in money they could hold and had real value over promised value.  Paper would be worth only a fraction of its specie counterpart.  There are even newspaper records of businesses taking out adds denouncing those would would try to pay debts with paper money at full value or "par" with specie.

Folks still value specie over paper.  If you don't believe me check the markets for the value of gold & silver. 
Today's close
$268 for the equivilant of the $20 gold piece.
$4.30 for the equivilant of about $1.25 of silver.

Just a thought
g'day
frempath

deadlands@gamerz.net wrote:
>
> At 05:21 PM 7/16/2001 -0400, you wrote:
> >Hi,
> >     Here's a reference question for the list serv.  Approximately how 
> > much would $15,000 in Confederate Gold coins weigh?
> 
> Well.
> In 1877 gold was listed as having a value of $22.10 /ounce - but it was 
> coming off of a peak that occurred during the Civil War.  Within a couple 
> of years the price of gold stabilized at $20.33 (give or take some change) 
> and was held at that price until the 30's by the feds.
> 
> For simplicity I just go with $20/ounce - which matches nicely with the 
> currency known as the double eagle.
> 
> 
> -------------------
> Allan Seyberth
> darious@darious.com
> Deadlands fan site - http://www.darious.com/
> 
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