1970

Two tiers, window still open

In 1970 the Gold Pool has already collapsed. The free price can leave $35. The official window for foreign treasuries closes on 15 August 1971.

United States double eagle of 1907.
United States double eagle, 1907. Not a coin of this year. The official window is still open. The pool is not.Public domain.

Since March 1968 there have been two prices: an official price for central banks, and a free-market price. The pool is not reconstituted.

Foreign official holders can still convert dollars into gold at the Treasury. That window closes on 15 August 1971. Private holding of monetary gold is still restricted.

Nixon shock 1971