World of xpilor,The Rocky History of the American Silver Eagles

Hi, today i writing history of the american silver eagles. Everybody upvote my post.

Throughout the years, the economies of the world adhered to the "Gold Standard," which simply means that the value of gold was the basis of the universal currency. Later on, European countries came to prefer silver, which created the "Silver Standard." Both precious metals were then concurrently used as the valuation of currencies of different countries. By 1873, America had a dual metal standard, a silver standard based on the Spanish real, later on known as the peso or "pieces of eight," and a gold standard currency called the "Eagle," a coin that was much in demand in European countries after the uncertainties of the First World War.

The crisis of free banking that resulted in the American Civil War brought about the end of the silver standard. Silver coins were no longer minted by that time as the succeeding financial crises of the World War and the Depression required paper currency with gold reserves to back them up as a solid foundation. However, by 1933, the floundering economy required Congress to change the gold standard to silver for the first time in American history. Silver certificates circulated until 1968, where the U.S. Treasury, not the Federal Reserve, exchanged silver certificates for silver bullion and silver dollars.

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