2023 Royal Mint 1 Oz Gold Standard Coin
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| Bullion Dealer | Price Each | Dealer Premium | Link | |
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BOLD Precious Metals
Dealer Rating: Free Shipping @ $199 |
$2,424.10 |
$85.70
(3.66% prem) |
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Melt Value: 2023 Royal Mint 1 Oz Gold Standard Coin
This gold coin contains 1.000 troy ounces of bullion. Based on the metal content and weight, the intrinsic melt value of one 2023 Royal Mint 1 Oz Gold Standard Coin is $2338.40 based on today's gold spot price.
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The gold standard was inadvertantly created by Sir Isaac Newton during his tenure as the Master of the Royal Mint during the late 18th century.
This line of coins from the Royal Mint are a tribute to the Gold Standard as part of Newton's legacy outside of science.
Coin Highlights:
- Minted with one troy ounce of .9999 fine gold
- Portrait of King Charles is on the obverse.
- Reverse: Balance scales and a compass adorn the reverse.
Sir Isaac Newton, renowned for his contributions to physics and mathematics, also played a pivotal role in laying the groundwork for the gold standard during his tenure as the Master of the Royal Mint.
Newton's tenure at the Mint began during a period of financial crisis in England. The silver coins in circulation were badly clipped and worn, leading to a shortage of reliable currency.
Newton oversaw a massive project to recall and recoin the nation’s currency. This involved melting down old coins and reminting them, a process that helped stabilize England’s currency system.
One of Newton's most impactful decisions was setting the gold-to-silver price ratio. In 1717, he established the price of gold in terms of silver, effectively pegging the British pound to a certain amount of gold. This ratio inadvertently led to the gold standard, as it overvalued gold and undervalued silver, causing silver to exit and gold to enter circulation.
While Newton did not explicitly intend to establish the gold standard, his adjustments to the gold-to-silver ratio made gold a more attractive medium for trade and storing wealth. Consequently, England moved towards a de facto gold standard.
| Weight | 1 oz |
| Country | Great Britain |
| Type | Gold Coin |
| Mint | The Royal Mint |
| Year | 2023 |
| Purity | .9999 fineness |
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