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Re:Why Gold? by Turing_Machine on Friday March 11, 2016 @06:03PM (#11270179)
No, they actually issued gold and silver currency, which was called "money" and was used directly as a medium of exchange. Money wasn't just exchangeable for gold, it was gold (and silver).

The widespread use of paper money is actually quite a recent innovation, compared to the millennia of history for gold and silver coinage. People didn't trust paper for a long time (and still don't, when times get troubled).

The Constitution of the United States (quite a recent document, historically speaking) invariably refers to "coining" money, not printing it.

Re:Why Gold? by RobertoG on Saturday March 12, 2016 @03:08AM (#11271802)
'issued gold and silver currency, which was called "money"'

If the value of the coin comes from the material, why issue coins in the first place?

Re:Why Gold? by Turing_Machine on Saturday March 12, 2016 @01:25PM (#11273846)
Because it's harder to make a counterfeit coin than an counterfeit irregular lump of metal.