Gold standard

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1. Currencies - hard money - fiat currencies.

A monetary agreement under which national currencies were backed by gold, and gold was used for international payments.

Most countries abandoned the gold standard for their currencies during the 20th century.

Fiat currencies are the - almost universal - alternative.

2. Standard of excellence.

A gold standard is an example of something that is very good that is used as a measure of how good other things are.

Pearson sets gold standard - ACT
"In issuing the first-ever social bond with a specific focus on education, Pearson has set a gold standard for other major corporates to follow."
ACT Deals of the Year Awards 2020 - Pearson

In the example above, a third party has accorded the description "gold standard" to Pearson's bond issue.

However, many providers are apt say that their own offerings are the gold standard in their field.

See also