[Reynoldo]

A five-dollar gold piece at today’s rate would be 1/465 of an ounce. I’m trying to visualize what that might look like...

That’s what silver coins are for.

[AceMineral]

A gold standard would by definition define the value of the coin stamped on the face. A $50 one ounce gold coin is therefore going to $50 worth of gold. The “commodity” price of gold would be something else. If the government really stuck with their $50 ounce gold coin the commodity price would probably come into some kind of equilibrium with the coin cost.