Gold Dollar Coins

1 The Act specified that our one-dollar gold coin would contain 24.75 grains of pure gold, and 2.75 grains of alloy, for an overall weight of 27.5 grains.

2 Since equal weights of gold and silver were not of equal value, a different dollar-unit was established for gold coins.

3 Congress set the weight of the one-dollar gold coin at exactly 15 times the weight of the one-dollar silver coin, thereby regulating its value by equalizing the relative worth in weight of each coin.

4 By establishing the worth of the gold dollar coin to be the same as the worth of the silver dollar coin prices set in terms of silver money could be paid with the same dollar-weight of money in gold.

5 This meant that a house costing $10,000 dollars could be bought with 10,000 silver dollar-coins or with 1,000 Eagle ten-dollar gold coins or with any combination of gold and silver coins totaling $10,000 dollars of weight.

6 Some members of our Republic mistakenly believe that the reference in the Constitution to “regulating the value thereof” (1:8:5) means that Congress is supposed to regulate the purchasing power of the nation’s money instead of its weight.

7 Nothing could be further from the truth.

8 If you sell eggs, and I buy some of your eggs, paying you one dollar in silver for 50 eggs, and I buy some of your other eggs, paying you one dollar in gold for 50 eggs, our transaction is beyond the legitimate business of the United States Congress or any one else.

9 A Ph.D entitled person once said that — by regulating the value of our money — Congress is empowered to keep prices steady.

10 This Ph.D ought to go back to the school where he got his Ph.D and demand his money back because he got clipped — ripped off.

11 May the grace of our Lord Jesus Christ be with you all. Amen.