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Gold was money then (all currency was backed by gold or silver) with one ounce of gold worth $20.00 and you could buy 'anything' by weighing out the appropriate amount of gold and paying for it. Nearly all businesses then had a gold scale for making transactions right on the premises. You could also take it to the bank and deposit it or convert it to paper or silver money. Or you (or your bank) could take it to the mint and have it converted into gold coins. Eventually most California, Nevada etc. gold was transferred to the East Coast or Europe to pay for all the goods purchased by it.
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What was the cost of gold in 1849?
In 1849, one troy ounce of gold was worth $20. A $20 coin contained .9675 ounce of pure gold.
Near which state capital in the west was gold discovered in 1849?
Sacramento, California is the state capital in the west where they discovered gold in 1849.
Why were they called fortyniners?
The forty niners were called the forty niners because the gold rush was in 1849.
How much is gold from the 1849?
Please be more specific
How did miners and shopkeepers weigh gold in 1849?
hello life on the gold feilds were hard
