gold point
noun1
Business, Finance Historical The values above and below the mint par of two monetary units on a shared metallic standard at which it became equally inexpensive to import or export gold or silver bullion instead of resolving trades through credit instruments such as bills of exchange.
- The New York exchange has kept hovering at only a little above the gold point.1882 December 2, Peel City Guardian:
- We find that the rates at which one currency will exchange for another fluctuate between two limits on each side of the Mint Par, marking the points at which it becomes more profitable to send or to receive gold rather than to send or receive a credit instrument. These theoretical limits are known as the gold points.1925, Samuel Evelyn Thomas, chapter XXIX, in Elements of Economics, page 461: