Priced in Gold

Priced in Gold

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This site shows you the price of fiat currencies, crypto currencies, stock markets, food, real estate, etc in gold terms.

This one is particularly interesting because you see prices actually going down in gold terms. If we had maintained a gold backed currency things would be less expensive!

On May 28, 2026, MoneyMan said:

If we had maintained a gold backed currency things would be less expensive!

can you please explain how things would have been less expensive if we had our currency backed by gold. How did the gold standard end?

On Jun 6, 2026, Nomad said:

can you please explain how things would have been less expensive if we had our currency backed by gold. How did the gold standard end?

Well this is all theoretical of course because we didn't keep gold backed currency so we don't know what would have happened but if you take a look at those charts, they price things in gold and currency. Not everything but many things that cost a certain weight in gold back in 1960 actually costs less weight in gold now while in USD terms it has skyrocketed. Lets look at US Media Household prices for example.

As you can see in grams of gold it was fairly consistent albeit right now it's less than it would have cost to buy a new house in gold than in 1970 back when USD was still technically backed by gold. The USD terms it went from 15-20K USD to 450k USD. That is purely due to currency devaluation.

The gold standard ended in essence in 1933 when FDR made it illegal to own more than 5 ounces of gold. Before that a Dollar bill was just a claimcheck on a certain amount of gold. 20 Dollars = 1 Oz of gold. Much like a dry cleaner gives you a ticket as proof of ownership to an article of clothing. Now the Dollar was still technically backed by gold after that but if you cannot convert your dollars into what it is backed by, you can't really be sure it is backed by it.

What knocked us off of gold permanently was social programs like social security and welfare in the 1960s and the Vietnam war. By 1971 we had made too many dollars and didn't have enough gold to back the dollar and other countries were getting wise and asking for their gold. Richard Nixon severed the tie between the Dollar and gold because he had to, otherwise we would have ran out of gold and had none to back the dollar. After that it was pure fiat currency backed by debt and faith in the government.

In relation to this, I was listening to this guy's show and he was pointing out that for thousands of years the price of a cow was 1 oz of gold and today, it still will take 1 oz of gold to purchase a cow.

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