Since people often consider Bitcoin the “digital gold alternative,” it is somewhat of a competitor ... You can see such examples with JM Bullion’s American Eagle Coin. This coin is worth $1 at face ...
That said, there are many other units used to weigh gold and showcase gold prices: How gold is weighed depends on the size of the sub-market, the typical transaction volume, and the country of origin.
The prices they fetch are based on their gold content —aka their "melt value"— plus a 1%-5% premium. Gold bullion ranges ... of gold is determined by the troy ounce, a special unit 2.75 ...
In other words, no matter where in the world you purchase gold, the actual value of that gold in US dollars is the same. The below chart shows the annual gold price performance versus various fiat ...