What is the Bimetallic Standard?

Bimetallic Standard – or Bimetallism – is a way of controlling the value of money by having a unit of currency to a fixed ratio of gold or silver. It was first used in the US in 1792.

For example, if one measurement of gold was 15 times more than silver, then a silver coin would be 15 times heavier in weight than a gold coin to make them both the same value.