Henry Ford paid workers on the Model T production line $5/day, which was one-quarter of an ounce of gold. (Yes, a one-oz gold coin had a $20 face value, by law, for much of this nation's history). Gold WAS used by the middle class, for savings and for expensive purchases, but yes silver was the main instrument of exchange in daily life.
Note: "One-oz" gold coins are actually a bit less than a full ounce because of siegnorage, which pays for the minting of the coins.
Henry Ford paid workers on the Model T production line $5/day, which was one-quarter of an ounce of gold. (Yes, a one-oz gold coin had a $20 face value, by law, for much of this nation's history). Gold WAS used by the middle class, for savings and for expensive purchases, but yes silver was the main instrument of exchange in daily life.
Note: "One-oz" gold coins are actually a bit less than a full ounce because of siegnorage, which pays for the minting of the coins.