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Gold—Silver—

History

Sound money by year

One short page for every year from 1776 through 1980, plus a few earlier dated stops. A note and one picture.

  1. 312SolidusIn the 310s Constantine’s mint settles on a gold solidus of tightly held weight. Silver had already been washed thin.
  2. 1545PotosíCerro Rico starts feeding silver into Atlantic and Pacific trade.
  3. 1609Bank of AmsterdamThe Wisselbank takes mixed coin and credits a bank guilder merchants can transfer.
  4. 1640Mint deposits seizedCharles I seizes merchants’ bullion stored in the Tower mint. A royal warehouse is not a safe warehouse.
  5. 1672Stop of the ExchequerPayments stop on much of the royal debt that goldsmith-bankers had treated as a safe asset.
  6. 1694Bank of EnglandA war loan and a note issue. Not a copy of Amsterdam’s giro.
  7. 1716Banque GénéraleLaw founds a bank whose notes are payable in coin under stated rules. The Mississippi collapse is 1720.
  8. 1720Mississippi BubbleJohn Law’s notes and Mississippi shares break in the same year.
  9. 1775Continental paper authorizedContinental currency is first authorized this year. The two-dollar note that promises Spanish milled dollars, or gold or silver, is dated 17 February 1776.
  10. 1776Continental paperIndependence, new Continental notes, and a book that still treated gold and silver as money.
  11. 1777Continental paperIn 1777 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  12. 1778Continental paperIn 1778 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  13. 1779Continental paperIn 1779 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  14. 1780Continental paperIn 1780 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  15. 1781Continental paperIn 1781 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  16. 1782Continental paperIn 1782 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  17. 1783Continental paperIn 1783 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  18. 1784Continental paperIn 1784 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  19. 1785Continental paperIn 1785 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  20. 1786Continental paperIn 1786 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  21. 1787Continental paperIn 1787 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  22. 1788Continental paperIn 1788 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  23. 1789Continental paperIn 1789 there is no new American coinage statute. The Continental note of 17 February 1776 still promised Spanish milled dollars, or gold or silver.
  24. 1790AssignatsRevolutionary France recasts land-tied paper as everyday money. A September issue is called a ceiling. It does not hold.
  25. 1791Hamilton’s mint reportHamilton’s 1791 report argues for a dollar in gold and silver. The Coinage Act that writes it into law is 1792.
  26. 1792Coinage ActCongress writes gold and silver into the dollar at a fixed mint ratio.
  27. 1793Bimetallic dollar in forceIn 1793 the Coinage Act of 1792 is already law, at a mint ratio of 15 to 1. France is still on the assignats. England has not stopped gold payout.
  28. 1794Bimetallic dollar in forceIn 1794 the Coinage Act of 1792 is already law, at a mint ratio of 15 to 1. France is still on the assignats. England has not stopped gold payout.
  29. 1795Bimetallic dollar in forceIn 1795 the Coinage Act of 1792 is already law, at a mint ratio of 15 to 1. France is still on the assignats. England has not stopped gold payout.
  30. 1796Bimetallic dollar in forceIn 1796 the Coinage Act of 1792 is already law, at a mint ratio of 15 to 1. France is still on the assignats. England has not stopped gold payout.
  31. 1797Bank RestrictionThe Bank of England stops paying gold for its notes. The pound keeps its name.
  32. 1798Bank not paying goldIn 1798 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  33. 1799Bank not paying goldIn 1799 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  34. 1800Bank not paying goldIn 1800 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  35. 1801Bank not paying goldIn 1801 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  36. 1802Bank not paying goldIn 1802 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  37. 1803Bank not paying goldIn 1803 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  38. 1804Bank not paying goldIn 1804 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  39. 1805Bank not paying goldIn 1805 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  40. 1806Bank not paying goldIn 1806 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  41. 1807Bank not paying goldIn 1807 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  42. 1808Bank not paying goldIn 1808 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  43. 1809Bank not paying goldIn 1809 the Bank of England is still not paying gold for its notes. The stop began in February 1797. The Bullion Report is 1810.
  44. 1810Bullion ReportThe Bullion Report argues from the gold premium that the paper pound had depreciated. Resumption is not this year.
  45. 1811First Bank endsThe charter of the First Bank of the United States runs out in 1811. England is still not paying gold. The Second Bank is 1816.
  46. 1812Restriction still in forceIn 1812 the Bank of England is still not paying gold. The Second Bank of the United States has not been chartered. That charter is 1816.
  47. 1813Restriction still in forceIn 1813 the Bank of England is still not paying gold. The Second Bank of the United States has not been chartered. That charter is 1816.
  48. 1814Restriction still in forceIn 1814 the Bank of England is still not paying gold. The Second Bank of the United States has not been chartered. That charter is 1816.
  49. 1815Restriction still in forceIn 1815 the Bank of England is still not paying gold. The Second Bank of the United States has not been chartered. That charter is 1816.
  50. 1816Second Bank charteredCongress charters the Second Bank of the United States for twenty years. It is not a modern central bank.
  51. 1817Second Bank open, window still shutIn 1817 the Second Bank of the United States is already chartered. England has not yet passed Peel’s Act. Full gold payout is 1821.
  52. 1818Second Bank open, window still shutIn 1818 the Second Bank of the United States is already chartered. England has not yet passed Peel’s Act. Full gold payout is 1821.
  53. 1819Peel’s ActPeel’s Act sets the path back to convertibility. Full gold payout is 1821, not this year.
  54. 1820Path back to goldPeel’s Act has set the path. The Bank of England is not yet paying gold in full. That resumption is 1821.
  55. 1821Gold payout resumesThe Bank of England pays gold for its notes again. Restriction ends.
  56. 1822England paying gold againIn 1822 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  57. 1823England paying gold againIn 1823 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  58. 1824England paying gold againIn 1824 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  59. 1825England paying gold againIn 1825 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  60. 1826England paying gold againIn 1826 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  61. 1827England paying gold againIn 1827 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  62. 1828England paying gold againIn 1828 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  63. 1829England paying gold againIn 1829 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  64. 1830England paying gold againIn 1830 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  65. 1831England paying gold againIn 1831 the Bank of England is paying gold for its notes again. The United States is still on the 1792 mint ratio.
  66. 1832Jackson vetoes the BankThe President blocks a new charter for the Second Bank of the United States.
  67. 1833Deposits leave the BankThe 1832 veto stands. In 1833 and 1834 the Treasury moves federal deposits from the Second Bank to state banks.
  68. 1834Mint ratio movesCongress changes the gold content of the eagle. The mint ratio moves from 15 to 1 toward roughly 16 to 1.
  69. 1835New ratio, old charterThe 1834 mint ratio is already in force. The Second Bank’s charter runs one more year. The Specie Circular is 1836.
  70. 1836Specie CircularPublic land must be paid in gold or silver. The Second Bank’s federal charter expires the same year.
  71. 1837PanicA panic year. Specie payments were suspended in many places. The causes were several, not one slogan.
  72. 1838No federal bank yetIn 1838 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  73. 1839No federal bank yetIn 1839 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  74. 1840No federal bank yetIn 1840 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  75. 1841No federal bank yetIn 1841 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  76. 1842No federal bank yetIn 1842 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  77. 1843No federal bank yetIn 1843 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  78. 1844No federal bank yetIn 1844 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  79. 1845No federal bank yetIn 1845 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  80. 1846No federal bank yetIn 1846 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  81. 1847No federal bank yetIn 1847 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  82. 1848No federal bank yetIn 1848 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  83. 1849No federal bank yetIn 1849 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  84. 1850No federal bank yetIn 1850 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  85. 1851No federal bank yetIn 1851 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  86. 1852No federal bank yetIn 1852 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  87. 1853No federal bank yetIn 1853 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  88. 1854No federal bank yetIn 1854 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  89. 1855No federal bank yetIn 1855 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  90. 1856No federal bank yetIn 1856 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  91. 1857No federal bank yetIn 1857 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  92. 1858No federal bank yetIn 1858 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  93. 1859No federal bank yetIn 1859 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  94. 1860No federal bank yetIn 1860 there is no federally chartered central bank. United States Notes have not been authorized. That statute is February 1862.
  95. 1861Specie suspensionIn December, banks suspend specie payments. Gold still prices customs and foreign exchange. Greenbacks are next February.
  96. 1862Legal Tender ActCongress authorizes United States Notes. The paper dollar floats below gold.
  97. 1863Greenbacks below goldIn 1863 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  98. 1864Greenbacks below goldIn 1864 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  99. 1865Greenbacks below goldIn 1865 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  100. 1866Greenbacks below goldIn 1866 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  101. 1867Greenbacks below goldIn 1867 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  102. 1868Greenbacks below goldIn 1868 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  103. 1869Greenbacks below goldIn 1869 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  104. 1870Greenbacks below goldIn 1870 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  105. 1871Greenbacks below goldIn 1871 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  106. 1872Greenbacks below goldIn 1872 United States Notes are legal tender. The Treasury is not redeeming them in gold on demand. The Act that names a resumption date is still 1875.
  107. 1873Coinage ActThe standard silver dollar is dropped from the coinage list.
  108. 1874Silver dollar already off the listThe standard silver dollar is already off the coinage list. The statute that names a resumption date has not been passed. That Act is 1875.
  109. 1875Resumption ActThe Specie Payment Resumption Act names 1 January 1879. This is not the day payments resume.
  110. 1876Resumption date already namedIn 1876 the law has already named 1 January 1879. Specie payments have not resumed. Bland–Allison is 1878.
  111. 1877Resumption date already namedIn 1877 the law has already named 1 January 1879. Specie payments have not resumed. Bland–Allison is 1878.
  112. 1878Bland–AllisonThe Treasury must make limited silver purchases and coin them. This is not free coinage at 16 to 1.
  113. 1879Specie resumptionOn 1 January, United States Notes are again treated as gold at par in practice.
  114. 1880Gold and greenbacks at parIn 1880 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  115. 1881Gold and greenbacks at parIn 1881 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  116. 1882Gold and greenbacks at parIn 1882 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  117. 1883Gold and greenbacks at parIn 1883 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  118. 1884Gold and greenbacks at parIn 1884 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  119. 1885Gold and greenbacks at parIn 1885 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  120. 1886Gold and greenbacks at parIn 1886 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  121. 1887Gold and greenbacks at parIn 1887 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  122. 1888Gold and greenbacks at parIn 1888 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  123. 1889Gold and greenbacks at parIn 1889 specie payments have resumed. Greenbacks and gold are at par in practice. The statute that defines the dollar as gold is still 1900.
  124. 1890Sherman Silver Purchase ActThe Treasury must purchase more silver than under Bland–Allison. This is still not free coinage at 16 to 1.
  125. 1891Sherman purchases continueIn 1891 the Sherman purchase duty is in force. It is not free coinage at 16 to 1. Repeal comes in the panic year 1893.
  126. 1892Sherman purchases continueIn 1892 the Sherman purchase duty is in force. It is not free coinage at 16 to 1. Repeal comes in the panic year 1893.
  127. 1893Sherman duty repealedA panic year. The Sherman silver-purchase duty is repealed.
  128. 1894Purchase duty already repealedIn 1894 the Sherman purchase duty is already repealed. Bryan’s free-silver campaign is 1896. The gold-dollar statute is 1900.
  129. 1895Purchase duty already repealedIn 1895 the Sherman purchase duty is already repealed. Bryan’s free-silver campaign is 1896. The gold-dollar statute is 1900.
  130. 1896Cross of goldBryan’s campaign attacks a gold-only dollar. The Republican ticket defends it. Bryan loses. This page is not a brief for either side.
  131. 1897Gold dollar not yet the statuteIn 1897 Bryan has lost. The dollar is not yet defined as gold in the 1900 Act. The Sherman purchase duty stays repealed.
  132. 1898Gold dollar not yet the statuteIn 1898 Bryan has lost. The dollar is not yet defined as gold in the 1900 Act. The Sherman purchase duty stays repealed.
  133. 1899Gold dollar not yet the statuteIn 1899 Bryan has lost. The dollar is not yet defined as gold in the 1900 Act. The Sherman purchase duty stays repealed.
  134. 1900Gold Standard ActStatute defines the dollar in gold: 25.8 grains, nine-tenths fine.
  135. 1901Dollar defined in goldIn 1901 the dollar is already defined as 25.8 grains of gold, nine-tenths fine. There is no Federal Reserve. The panic is 1907.
  136. 1902Dollar defined in goldIn 1902 the dollar is already defined as 25.8 grains of gold, nine-tenths fine. There is no Federal Reserve. The panic is 1907.
  137. 1903Dollar defined in goldIn 1903 the dollar is already defined as 25.8 grains of gold, nine-tenths fine. There is no Federal Reserve. The panic is 1907.
  138. 1904Dollar defined in goldIn 1904 the dollar is already defined as 25.8 grains of gold, nine-tenths fine. There is no Federal Reserve. The panic is 1907.
  139. 1905Dollar defined in goldIn 1905 the dollar is already defined as 25.8 grains of gold, nine-tenths fine. There is no Federal Reserve. The panic is 1907.
  140. 1906Dollar defined in goldIn 1906 the dollar is already defined as 25.8 grains of gold, nine-tenths fine. There is no Federal Reserve. The panic is 1907.
  141. 1907Panic of 1907A New York scramble, a private rescue, and no public central bank yet.
  142. 1908Aldrich-VreelandGroups of national banks may issue emergency currency against more than government bonds. The same law funds a monetary commission. The Fed is 1913.
  143. 1909Emergency notes, no Fed yetIn 1909 Aldrich-Vreeland is already law. The Federal Reserve does not exist. The classical gold window is still open.
  144. 1910Emergency notes, no Fed yetIn 1910 Aldrich-Vreeland is already law. The Federal Reserve does not exist. The classical gold window is still open.
  145. 1911Emergency notes, no Fed yetIn 1911 Aldrich-Vreeland is already law. The Federal Reserve does not exist. The classical gold window is still open.
  146. 1912Emergency notes, no Fed yetIn 1912 Aldrich-Vreeland is already law. The Federal Reserve does not exist. The classical gold window is still open.
  147. 1913Federal Reserve ActWilson signs the act on 23 December. A public central bank, after the 1907 scramble.
  148. 1914Gold standard breaksWar finance stops the peacetime rules: convertibility and gold shipment.
  149. 1915Gold window already shutIn 1915 the classical gold window has been closed since 1914. It is not rebuilt. Britain’s return to a pre-war parity is 1925.
  150. 1916Gold window already shutIn 1916 the classical gold window has been closed since 1914. It is not rebuilt. Britain’s return to a pre-war parity is 1925.
  151. 1917Gold window already shutIn 1917 the classical gold window has been closed since 1914. It is not rebuilt. Britain’s return to a pre-war parity is 1925.
  152. 1918The old machine does not returnFighting ends. What does not return is the pre-1914 gold standard: several centres, private convertibility, and gold that moved when the points were hit.
  153. 1919Pre-war gold order still absentIn 1919 the war is over. The pre-1914 gold machine has not returned. Britain’s parity restoration is 1925.
  154. 1920Pre-war gold order still absentIn 1920 the war is over. The pre-1914 gold machine has not returned. Britain’s parity restoration is 1925.
  155. 1921Pre-war gold order still absentIn 1921 the war is over. The pre-1914 gold machine has not returned. Britain’s parity restoration is 1925.
  156. 1922GenoaGenoa sketches a gold-exchange system: hold currencies that are themselves convertible into gold, instead of holding gold. Not the old machine.
  157. 1923WeimarThe paper mark stops working. The Rentenmark of November restores a usable unit.
  158. 1924Mark stopped, parity not restoredThe paper mark stopped working in 1923. Britain has not restored the pre-war gold parity. That return is 1925.
  159. 1925Sterling’s pre-war parityBritain restores gold convertibility at the pre-war sterling–dollar rate. The 1913 world does not come back.
  160. 1926Sterling on the restored parityIn 1926 Britain is on the gold parity restored in 1925. The pre-1914 order was not rebuilt. The exit is 1931.
  161. 1927Sterling on the restored parityIn 1927 Britain is on the gold parity restored in 1925. The pre-1914 order was not rebuilt. The exit is 1931.
  162. 1928Sterling on the restored parityIn 1928 Britain is on the gold parity restored in 1925. The pre-1914 order was not rebuilt. The exit is 1931.
  163. 1929Sterling on the restored parityIn 1929 Britain is on the gold parity restored in 1925. The pre-1914 order was not rebuilt. The exit is 1931.
  164. 1930Sterling on the restored parityIn 1930 Britain is on the gold parity restored in 1925. The pre-1914 order was not rebuilt. The exit is 1931.
  165. 1931Britain leaves goldSix years after the 1925 return, sterling leaves the gold parity.
  166. 1932Britain already off goldBritain left gold in 1931. The United States has not recalled private monetary gold. That order is 1933.
  167. 1933Gold recallOrder 6102 calls in most private monetary gold. The official price is reset the next year.
  168. 1934Gold Reserve Act30 January: title to monetary gold vests in the United States. The official price becomes $35.
  169. 1935Gold Clause CasesThe Supreme Court upholds the 1933 resolution that voided gold clauses in contracts.
  170. 1936Official price $35In 1936 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  171. 1937Official price $35In 1937 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  172. 1938Official price $35In 1938 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  173. 1939Official price $35In 1939 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  174. 1940Official price $35In 1940 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  175. 1941Official price $35In 1941 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  176. 1942Official price $35In 1942 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  177. 1943Official price $35In 1943 the official gold price is $35. The Treasury does not redeem currency in gold for the public. Bretton Woods has not been signed.
  178. 1944Bretton WoodsThe post-war dollar is defined against gold at $35 for official holders. Citizens do not get that window.
  179. 1945Bretton Woods in forceIn 1945 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  180. 1946Bretton Woods in forceIn 1946 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  181. 1947Bretton Woods in forceIn 1947 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  182. 1948Bretton Woods in forceIn 1948 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  183. 1949Bretton Woods in forceIn 1949 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  184. 1950Bretton Woods in forceIn 1950 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  185. 1951Bretton Woods in forceIn 1951 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  186. 1952Bretton Woods in forceIn 1952 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  187. 1953Bretton Woods in forceIn 1953 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  188. 1954Bretton Woods in forceIn 1954 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  189. 1955Bretton Woods in forceIn 1955 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  190. 1956Bretton Woods in forceIn 1956 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  191. 1957Bretton Woods in forceIn 1957 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  192. 1958Bretton Woods in forceIn 1958 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  193. 1959Bretton Woods in forceIn 1959 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  194. 1960Bretton Woods in forceIn 1960 other currencies are pegged to the dollar, and the dollar is defined at $35 for official holders. Private Americans cannot redeem at the Treasury.
  195. 1961Gold PoolIn 1961 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  196. 1962Gold PoolIn 1962 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  197. 1963Gold PoolIn 1963 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  198. 1964Gold PoolIn 1964 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  199. 1965Gold PoolIn 1965 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  200. 1966Gold PoolIn 1966 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  201. 1967Gold PoolIn 1967 the London Gold Pool is trying to hold the free-market price near $35. The official window is still open. The pool collapses in March 1968.
  202. 1968Two-tier gold marketThe London Gold Pool collapses in March. The official price stays for central banks. The free price can move away from $35.
  203. 1969Two tiers, window still openIn 1969 the Gold Pool has already collapsed. The free price can leave $35. The official window for foreign treasuries closes on 15 August 1971.
  204. 1970Two tiers, window still openIn 1970 the Gold Pool has already collapsed. The free price can leave $35. The official window for foreign treasuries closes on 15 August 1971.
  205. 1971Gold window closes15 August: the Nixon shock suspends dollar–gold convertibility for foreign officials.
  206. 1972Smithsonian pegsThe official gold price has moved from $35 to $38. A March statute writes $38 into United States law. Major currencies have not yet floated.
  207. 1973Currencies floatMajor currencies float. The official dollar price of gold is $42.22. Private gold holding is still restricted.
  208. 1974Private gold holding returnsStatute again allows Americans to hold gold bullion. Convertibility does not return.
  209. 1975Private holding, no windowIn 1975 private bullion holding is legal again. Public convertibility is not. The foreign official window closed in 1971.
  210. 1976Private holding, no windowIn 1976 private bullion holding is legal again. Public convertibility is not. The foreign official window closed in 1971.
  211. 1977Private holding, no windowIn 1977 private bullion holding is legal again. Public convertibility is not. The foreign official window closed in 1971.
  212. 1978Private holding, no windowIn 1978 private bullion holding is legal again. Public convertibility is not. The foreign official window closed in 1971.
  213. 1979Private holding, no windowIn 1979 private bullion holding is legal again. Public convertibility is not. The foreign official window closed in 1971.
  214. 1980Silver ThursdayA concentrated silver position, a rule change, a March break. The record, not a lesson in what to hold.

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