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Anyone have a £5 Gold Sovereign?
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<p>[QUOTE="Gam3rBlake, post: 5422518, member: 115909"]That’s true now that I think about it.</p><p><br /></p><p>20x Morgan Dollars would’ve had a face value of $20 but only been about 15 troy ounces of silver. Today about $450 in silver.</p><p><br /></p><p>At the same time period (1890s) a Double Eagle was also $20 face value but it was almost 1 full troy ounce of gold. Today about $1800.</p><p><br /></p><p>According to “Gresham’s Law” if the 20x $1 Morgan Dollars weren’t viewed by the people as having the same value as a $20 Double Eagle then eventually gold coins would’ve been driven out of circulation and people would’ve only used silver due to it being seen as worth less than the gold coins.</p><p><br /></p><p>Today the gold is worth much more, but back then they were both worth the same $20 face value.[/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 5422518, member: 115909"]That’s true now that I think about it. 20x Morgan Dollars would’ve had a face value of $20 but only been about 15 troy ounces of silver. Today about $450 in silver. At the same time period (1890s) a Double Eagle was also $20 face value but it was almost 1 full troy ounce of gold. Today about $1800. According to “Gresham’s Law” if the 20x $1 Morgan Dollars weren’t viewed by the people as having the same value as a $20 Double Eagle then eventually gold coins would’ve been driven out of circulation and people would’ve only used silver due to it being seen as worth less than the gold coins. Today the gold is worth much more, but back then they were both worth the same $20 face value.[/QUOTE]
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