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<p>[QUOTE=&quot;fatima, post: 1351769, member: 22143&quot;]Silver was not demonetized in 1832.&nbsp; &nbsp; It was still coined by the government into $s into the 1970s and silver certificate $s could be directly redeemed into physical silver until 1968.&nbsp; &nbsp; </p><p><br /></p><p>In regards to the Founding Fathers, a fixed gold silver ratio is exactly what they wanted.&nbsp; The Coinage Act of 1792 absolutely defined the ratio:</p><p><br /></p><p><br /></p><blockquote><p>SECTION 11. And be it further enacted, That the proportional value of gold to silver in all coins which shall by law be current as money within the United States, shall be as <b>fifteen to one</b>, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen pounds weight of pure silver shall be of equal value in all payments, with one pound weight of pure gold, and so in proportion as to any greater or less quantities of the respective metals.</p></blockquote><p><br /></p><p><br /></p><p>This bill was signed into law by none other than George Washington who is of course, the definition of Founding Father.&nbsp;&nbsp; There is a further definition of the bill in terms of grains of silver to the $, and remained on the books until 1968.&nbsp; Until that time, you could take your silver certificate USD to the US Treasury and they would exchange it for this.&nbsp; (credit from another coin talk post)&nbsp; Notice the dates and language on the pak.&nbsp; i.e. In 1968 they were still doing USD/Silver exchanges in terms of the Coinage Act of 1792. </p><p><br /></p><p>[ATTACH]156872.vB[/ATTACH][ATTACH]156876.vB[/ATTACH]</p><p><br /></p><p><br /></p><p>The dollar standard ended in 1971 because the Nixon technically declared a bankruptcy of the USD&nbsp; and told the other countries, &quot;too bad&quot;.&nbsp; He was forced to do so lest all the gold in Ft. Knox and elsewhere, end up in France.&nbsp; </p><p><br /></p><p>When this relationship ended, so did the relationship between silver and gold as priced in $s or any other currency.</p><p><br /></p><p>(IMO, if you ever run into one of these, buy it.)[/QUOTE]</p><p><br /></p>

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