“Fed’s gold certificate values gold at $42.22 an ounce.”
Because that is how much Gold $42 is SUPPOSED TO BE ABLE TO PURCHASE! That is how much purchasing power the dollar should actually have! And by their own hand this ADMIT IT with THE CERTIFICATE VALUE.
Well I see your point. But a bind also has a certificate value. But it also has a fair market value that rises or falls after its initial sale and purchase at parstock value. In the same was the certificate has a face value but it’s FMV is much higher now as a function of scarcity and current economic conditions. The of something is what you can get for exchanging it in the marketplace.