From the Oct. 6 Numismatic News E-Newsletter:
Is the U.S. dollar still the most important currency in the world?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
Yes, the U.S. dollar is still the strong baseline for many currencies. The euro also leads as the number two spot, in my opinion. Others do fall in close proximity. I feel that all the top 10 lead the way, but no over-shining.
Answer: It is to me.
Colorado Springs, Colo.
Yes, it is the most important.
San Antonio, Texas
From my many travels and years living in many countries, then placed in reference to today as to the trade of the U.S. dollar and the local money, here are some of the changes I have seen:
Germany was four marks to the dollar in late 1960s for many years then went up to two marks to the dollar, then over to the euro.
Vietnam was 400 dong to the dollar in the early 1970s. Now it is going at 22,500 to a dollar.
Philippines peso was eight to a dollar for many years 1970-1980s. Now it is in the 50s to a dollar.
The Canada dollar was on near par with the U.S. dollar for many years. Now it takes 1.26 Canadian dollar for one U.S. dollar.
I know there are many ups and downs over the years, but in general I feel the U.S. dollar is still over and above most of the world’s major moneys.
Johnny Trigg Mary
There is no financial backing for the dollar since 1960s or 1970s. I understand the government is not allowing an investigation into this. A wee bit dictatorial according to some people.
And most people outside the U.S. have lost faith in the U.S. because of loads of reasons: Trump is barking mad, unjust wars. These are some of the reasons people have turned their backs towards the U.S. Maybe not all legit, but since the Internet everybody wants to vent their opinion.
Here in Europe people don’t trust the euro and the European leaders and invest some money in gold and silver.
Erik van Gemst
Gorichem, The Netherlands
All of these world currencies are pretty worthless since they are only backed by government debt. Not gold, not silver, nothing backs our dollar except the promise to pay us back with more inflated worthless dollars. One of these days, the you-know-what will hit the fan and the public will wake up to the word that their bank account is now worth five or maybe 10 cents on the dollar. History tells us this is going to be momentous.
The yuan of China is showing great progress since 1978, and the euro may come back to haunt the Wall Street folks again if the EU ever gets its act together.
But who are we to talk? Our stability is based solely on financing debt into wealth and our paying our bills on time. Oh, and FULL FAITH and CREDIT of the United States government (Congress holds the purse strings).
As a coin collector of world coins I don’t care about important currencies; I care only about coins, since that’s what I collect.
A Dane in Paris
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More Collecting Resources
• The Standard Catalog of World Coins, 1901-2000 is your guide to images, prices and information on coinage of the 1900s.
• Order the Standard Catalog of World Paper Money, General Issues to learn about circulating paper money from 14th century China to the mid 20th century.