.In 1792, the United States adopts a gold and silver standard.

. The US Congress passed the Mint and Coinage Act and the Act established a fixed price of gold in US dollar terms.

. During the Civil War, the US was unable to pay of all its debt using gold or silver, hence in 1892, paper money was declared to be a legal tender. It became an official currency in the US.

. In 1870, there was a number of gold rushes eg. In 1799 North Carolina, 1848 California, Klondike (in the Yukon Territory and other parts of the British Columbia and Australia from 1850s onwards.

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