Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (14664)	2/9/2002 3:35:11 PM
From: Don Lloyd	Read Replies (1) of 74559

CB - Gold to dollar stayed at $22.67 from 1792 to 1934, when FDR raised the price to $35. ... This bothered me as soon as I saw it, but I still haven't figured out for sure what's wrong, but I think that it's this - The $35 dollar figure is the price of one troy ounce of gold. The $22.67 figure is a typo that should be $20.67 for one troy ounce of gold -or- it is approximately the price of one avoirdupois ounce of gold. 1 troy ounce = 480 grains 1 avoirdupois ounce = 437.5 grains 1 troy ounce = 1.0971 avoirdupois ounces Regards, Don

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