GOLD. Gold has served as money, a store of value and as backing for currencies longer than any other material. Gold has been widely used in coinage since about 300 BC (Gold coinage was used prior to that of course). The Coinage act of 1792 setup the Dollar as the basic monetary unit of the US containing 24 3/4 grains of gold. It also established an “Eagle” as a $10 gold coin, hence the popular “Double Eagle” or $20 gold coin. US gold coins have been produced in denominations of One Dollar, 2 1/2 Dollar, 3 Dollar, 4 Dollar, 5 Dollar, 10 Dollar, 20 Dollar, 50 Dollar Pan Pacific Commemorative and modern Gold Eagle.
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