GoldSilverHQ
gold—silver—

1944

Bretton Woods

The post-war dollar is defined against gold at $35 for official holders. Citizens do not get that window.

Opening of the Bretton Woods conference, 1944.
Opening of the Bretton Woods conference, 1944.Public domain.

Bretton Woods was negotiated in 1944 at Bretton Woods, New Hampshire. Member currencies were pegged to the US dollar. The dollar was defined against gold at $35 a troy ounce for official convertibility.

Ordinary people in the United States did not redeem paper at the Treasury. The official window that remained was closed on 15 August 1971.

Nixon shock 1971 →