Why We Now Measure Gold in Dollars — and Not the Other Way Around | Mises Wire

Prior to 1933, the name “dollar” was used to refer to a unit of gold that had a weight of 23.22 grains. Since there are 480 grains in one ounce, this means that the name dollar also stood for 0.048 ounce of gold. This in turn, means that one ounce of gold referred to $20.67.
— Read on mises.org/wire/why-we-now-measure-gold-dollars-—-and-not-other-way-around

Good argument

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