Post
Topic
Board Economics
Re: Why has the world agreed that an ounce of gold is worth 50 U.S. dollars?
by
Q7
on 31/10/2015, 12:10:49 UTC
Well I'm don't have a direct answer for it but i was told the face value was affixed some time ago more like a benchmark and it stays until today even though when inflation has picked up considerably. Whatever it is, regardless what the numbers appear I'm sure people will know how to judge and give a value to it. It's the actual value that is important not the face value. Face value is just the worth assigned by the government to denominate a coin's price as a form of legal tender and that's all to it.