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Free market the trading ratio of silver to gold

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Reference no: EM132140637

In the late 1800s, the U.S. Dollar was on a bi-metallic standard. According to the official standard, one ounce of gold was worth 16 ounces of silver. However, on a free market the trading ratio of silver to gold was around 20 ounces to one.

Given that information, which kind of coinage would be most likely to disappear from circulation, silver or gold? Why?

Reference no: EM132140637

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