Comment by kragen
3 months ago
It was, yes. The varying relative values of metals was in fact a huge problem for mints for many centuries. The problem was sometimes resolved by refusing to mint any but the priciest metal, and at other times by the values of different coins such as shillings and sovereigns varying relative to one another.
Ok, but the US mint in the 18th and 19th centuries?
Yes, this was one of the major political controversies around the US mint in the 19th century and even the early 20th century: https://en.wikipedia.org/wiki/Free_silver
Fascinating. Thank you.