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Web1800s and the rise of the gold standard The gold standard was an innovative concept that combined the best aspects of paper money with the best aspects of coins. The gold standard allowed central banks to create money while also having that money backed by precious metals. WebSelect the cells you want to format On the Home tab, click the Dialog Box Launcher next to Number. Tip: You can also press Ctrl+1 to open the Format Cells dialog box. In the Format Cells dialog box, in the Category list, click Currency or Accounting. In the Symbol box, click the currency symbol that you want. WebBy 1971, every country had given up the gold standard, thereby ending the possibility of converting paper currency into precious metal. This change created a “floating currency” system in which the value of paper money (and the fiduciary coinage that circulates with it) is dictated entirely by public confidence and international market forces. oggy and the cockroaches christmas spirit