silver standard

noun
a monetary standard or system using silver of specified weight and fineness to define the basic unit of currency.

Origin:
1825–35, Americanism

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World English Dictionary
silver standard
 
n
a monetary system in which the legal unit of currency is defined with reference to silver of a specified fineness and weight and sometimes (esp formerly) freely redeemable for it

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
In my view, the silver standard for this general approach to unilateral effects doctrine is predatory pricing.
If you wanted to know it for stress, you might look at cortisol as a silver standard for acute or chronic stress.
Each measure has gold and silver standard, awarded according to degree of compliance.
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