StoryNote logo

TIL Great Britain accidentally adopted a de facto gold standard in 1717 when Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation.

by /u/jarlhon in /r/todayilearned

Upvotes: 1

Favorite this post:
Mark as read:
Your rating:
Add this post to a custom list

StoryNote©

Reddit is a registered trademark of Reddit, Inc. Use of this trademark on our website does not imply any affiliation with or endorsement by Reddit, Inc.