American Open Currency Standard was Chair of the Committee. American Open Currency Standard American Open Currency Standard (AOCS) is a non-profit organization opposed to fiat money and wishing to expedite the use of metal as money. In accordance with its mission, AOCS grants approval to new currencies, helps new currency issuers to establish brand identity, and encourages merchants to accept AOCS-approved currencies. AOCS was started in 2007 by Robert Gray, who was formerly a Regional Currency Office for Liberty Dollar and is currently the Executive Director of AOCS. Robert Gray testified before the United States House Financial Services Subcommittee on Domestic Monetary Policy and
Card money in New France eighteenth century, due to ongoing wars in Europe, the financial aid to the French colonies decreased, meaning that goods were regularly shipped in place of currency. This caused a higher reliance on card money as a form of payment (Heaton 1928, 654). By 1705, card money had become official tender and was relied upon to pay building costs as well as soldier's pay (Heaton 1928, 655). As cards continued to be redeemed at full face value, supply far outweighed the demand and in 1717 it was decided that card money would be redeemed at a 50% discount and withdrawn from