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How much would 10000 Chinese customs gold units in 1948 in us dollars today?
Wiki User
∙ 13y ago
The problem with this conversion is that the United States abandoned the Gold Standard (gold backed currency) in 1932:
Given that gold was worth 20.67 per troy in 1932, and;
888.671 mg of fine gold (a customs gold unit) is 8.5876 troy ounces, and;
Each Chinese Customs Gold Unit is worth $8350.15 each in current US dollars. So 10,000 would be worth 83,500,000.00 US Dollars.
(Pricing reflects fractional reserve system devaluation when compared to gold backed currency, and historical gold prices per troy)
Wiki User
∙ 13y ago
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