International Monetary System. Organization of Lecture. ALTERNATIVE EXCHANGE RATE SYSTEMS A BRIEF HISTORY OF THE INTERNATIONAL MONETARY SYSTEM THE EUROPEAN MONETARY SYSTEM Costs and benefits of a single currency. Alternative Exchange Rate Systems.
At various times some countries have minted coins in both gold and silver (referred to as bimetallism) The U.S., for example, has circulated gold and silver coins at the same time.
Bretton Woods System: 1945-1972
Pegged at $35/oz.