Gold standard Timeline of Events

Home / Timelines / Gold standard

Gold standard

The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...

Timeline of Events

1900

3.14.1900

The Gold Standard Act is ratified, placing United States currency on the gold standard.

1933

6.5.1933

The U.S. Congress abrogates the United States' use of the gold standard by enacting a joint resolution (48 Stat. 112) nullifying the right of creditors to demand payment in gold.

1968

3.18.1968

Gold standard: The U.S. Congress repeals the requirement for a gold reserve to back US currency.

1971

8.15.1971

President Richard Nixon completes the break from the gold standard by ending convertibility of the United States dollar into gold by foreign investors.