Editing Par value (section)

==Currency==
The term "at par" is also used when two currencies are exchanged at equal value (for instance, in 1964, [[Trinidad and Tobago]] switched from the [[British West Indies dollar]] to the new [[Trinidad and Tobago dollar]], and that switch was "at par", meaning that the [[Central Bank of Trinidad and Tobago]] replaced each old dollar with a new one).

Par value also refers to the official gold content of a currency.  The Act to Amend the Par Value Modification Act of 1973 of September 21, 1973 lowered the par value of the dollar against gold from $38 to $42.2222 where it remains today.  This is why the face value of a 1 oz gold coin is $50, reflecting the par value of the dollar in gold.