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<p>[QUOTE=&quot;KSorbo, post: 5173101, member: 56370&quot;]I think we are overlooking the main use, or one of the main uses, of gold coins which was foreign trade.&nbsp; Domestically there was full faith and credit in silver and paper money after the mid 1870s.&nbsp; We know that paper money was printed in large quantities during that time and circulated heavily, as very little of it remains today.&nbsp; Therefore it must have circulated the most.&nbsp; Much of the gold, however, remained in high grade in European vaults and was repatriated more recently.&nbsp; During the 1800’s the world reserve currency was not the US dollar, but gold, which is why so much was exported.</p><p><br /></p><p>On this thread we are thinking like 21st century coin collectors.&nbsp; For us gold coins are serious bling, and the idea of getting paid in $20 gold pieces is too tempting to pass up.&nbsp; However, I’m betting that the average late 19th century person probably preferred the convenience of paper money, just like people today.[/QUOTE]</p><p><br /></p>

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