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Gold-Mac-Index: The value of the purchasing power for 1 g of gold (Gold.de: [16] calculation of the gold price average of the corresponding year), how many burgers one got for 1 g gold. A Swiss bank has expanded the idea of the Big Mac index to include the amount of time that an average local worker in a given country must work to earn enough ...
English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
Par value also refers to the official gold content of a currency. The Act to Amend the Par Value Modification Act of 1973 of September 21, 1973 lowered the par value of the dollar against gold from $38 to $42.2222 where it remains today. This is why the face value of a 1 oz gold coin is $50, reflecting the par value of the dollar in gold.
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Official U.S. gold reserve since 1900 Changes in Central Bank Gold Reserves by Country 1993–2014 Central 2005 and 2014. A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of ...
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Seigniorage is the positive return, or carry, on issued notes and coins (money in circulation). Demurrage, the opposite, is the cost of holding currency.. An example of an exchange of gold for "paper" where no seigniorage occurs is when a person has one ounce of gold, trades it for a government-issued gold certificate (providing for redemption in one ounce of gold), keeps that certificate for ...
Initially, the Singapore dollar was pegged to the pound sterling at a rate of two shillings and four pence to the dollar, or £1 = S$60/7 or S$8.57; in turn, £1 = US$2.80 from 1949 to 1967 so that US$1 = S$3.06.
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