The author is essentially correct ASSUMING the US would keep the - TopicsExpress

The author is essentially correct ASSUMING the US would keep the current denomination the SAME (ie - 1oz gold American Eagle $50 denomination costs more than $50 to make it). However, on the hand if we went back on a Gold Standard this coin would simply have to be denominated over $12,000. Assuming denominations left the same, then common coins like the penny, the nickel and many other coins would disappear.

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