Gold Bullion Standard
A gold standard without redemption of currency in gold coin. The gold bullion standard has the advantage of economizing in the use of gold by keeping it from domestic circulation without preventing its free international movement.
From 1934 to 1971, the U.S. had a restricted international gold bullion standard, with domestic currency irredeemable in gold, but the dollar convertible internationally into gold on an official accounts basis until closing of the "gold window" by the U.S. in August, 1971.
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