However, several countries used it in the past. The gold standard was a monetary system in which the value of a country's currency, such as the United States dollar or the British pound, was linked to the value of a specific quantity of gold. The ISO 4217 standard includes codes not only for coins, but also for precious metals (gold, silver, palladium and platinum); by definition, they are expressed per troy ounce. Gold was used in commerce (along with other precious metals) in the Ancient Near East since the Bronze Age, and investment in gold has been popular since then, with actual coins originating much later, during the 6th century BC.C., in Anatolia.
Several years ago, in the vicinity of Abu Dhabi, one of the world's first gold ATMs was set up, allowing customers to withdraw fiat currency in the form of everything from one-gram gold nuggets to larger gold bars. This concept began thousands of years ago in Asia Minor, when several precious metals, such as gold and silver, were accepted as a method of payment. The Australian gold kangaroo is a gold bullion coin minted in early 1986 by the Gold Corporation, or more commonly, the Perth Mint in Australia. The media have often spoken of the opulence of being able to buy gold with a debit card, presenting it as the domain of wealthy sheiks who have nothing better to do than buy a few gold bars on a Tuesday afternoon.
After all, people have historically flocked to gold when they don't trust the local bank to keep their money safe. The gold coin of the Austrian Philharmonic is an incredibly intricate, elaborate and ornate piece of gold ingots that commemorates an important cultural and historical part of Austrian history: the Vienna Philharmonic Orchestra. The German gold mark was introduced in 1873 in the German Empire, replacing the various local gulden coins of the Holy Roman Empire. These are gold coins that HM Revenue & Customs recognizes are included in the exemption for investment gold coins.
There are other counterfeit double eagles in which the gold-copper alloy was not well mixed. In the United Kingdom, HM Revenue and Customs has added an additional list of gold coins along with the European Commission list. Whether he participated in a real confiscation of gold or not, government policies have further impoverished him. It's even possible to borrow money against gold at low interest rates, freeing up liquidity and essentially giving you an option against the dollar.
South Africa introduced the Krugerrand in 1967 to serve this market; this was the reason for its comfortable and memorable gold content: exactly one troy ounce.
