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How much was a gold $20 Double Eagle worth in the late 1800s?
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<p>[QUOTE="The Eidolon, post: 5172569, member: 102103"]Seems like gold was more for storage of wealth than for everyday transactions. It might not always have been easy to get change for a gold $10 or $20 coin. Kind of like why some people prefer to carry multiple $20s instead of $100 bills today.</p><p><br /></p><p>Also, after 1873, the US was not on a bimetallic standard. As the value of silver dropped compared to gold, people might have been more and more reluctant to accept large quantities of silver coin for amounts normally paid in gold. Similar to why trade dollars were so unpopular within the US. Even though were legal tender for small payments (Under $5 I think...), they had much less than one dollar's worth of metal value at that time.[/QUOTE]</p><p><br /></p>
[QUOTE="The Eidolon, post: 5172569, member: 102103"]Seems like gold was more for storage of wealth than for everyday transactions. It might not always have been easy to get change for a gold $10 or $20 coin. Kind of like why some people prefer to carry multiple $20s instead of $100 bills today. Also, after 1873, the US was not on a bimetallic standard. As the value of silver dropped compared to gold, people might have been more and more reluctant to accept large quantities of silver coin for amounts normally paid in gold. Similar to why trade dollars were so unpopular within the US. Even though were legal tender for small payments (Under $5 I think...), they had much less than one dollar's worth of metal value at that time.[/QUOTE]
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How much was a gold $20 Double Eagle worth in the late 1800s?
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