Well, I would think that most people would recognize gold and silver quite easily when in pure form.
Although I'm no expert and could well be wrong (as is always the case) – but I think it's kinda recognizable even when you google it; and you can usually tell by the quality of the design of coin/bar/jewelry if its counterfeit. It's kinda "un-imitateable". You know the real thing when you see it. You can tell. (I think.)
I think Rome is a great/horrible comparison in so many ways; not least coinage:
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We are probably in late republic stage vis a vis state of democracy, and maybe already in age of empire vis a vis inflation/currency debasement.
The Romans could tell when the coins had been debased, as people always eventually have, throughout history. I think it's true the other way around too. And when you have nothing else to hang on to for being the sole store of value – what would you rely on as a last resort? Sure, not everything that glitters is gold – but I'd sure like to own some just in case people won't accept any other form of payment. Gold/silver coins, with known inscription from US or your own country, seems a perfect form of owning it, without knowing too much about it. Maybe copper coins too, as they are less valuable and thus better suited for everyday transactions.
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I'm' no gold bug or anything, but I can't see a better option: why would you not want to have some insurance in case infrastructure collapses, etc? Is it really unfathomable that something like that would happen? Major war? Major economic disaster? It often happens after a long period of it not happening, when no-one expects it. Covid, ring a bell? ;-) (And still, in that case, we had SARS, swine flu, bird flu, Ebola... people were all like "phew, another close call; let's do nothing again and hope for the best!") Before 1914, we had had a century of peace, more or less. Oh and the Pax Romana were followed by like constant trouble (I think).
Just like insurance, it may not pay off – the insurer may not have any money left, or say "no, that's not covered by the definition" and try to get out of it – with gold, at least you have the product. In more unsafe times, there should be higher demand. Gold and silver has always had a value ascribed to it, tangible or not. I would say that the value of money is still measured against gold, not the other way around.
Why not have at least a small amount of one's funds in gold? What's a better option, if one wants to prepare at least a little for "the worst", should it happen? |
