Are we going to see smaller gold coins rise in popularity?

[Bigmarc]

6 hours ago, JohnA1 said:

The only new entrant here is blockchain technology that (sort of) eliminates the 3rd trusted party

Still need a wallet, a device to use the wallet, a exchange to send the coins from and the chain itself. 

[JohnA1]

8 minutes ago, Bigmarc said:

Still need a wallet, a device to use the wallet, a exchange to send the coins from and the chain itself. 

I'd take any time if it went mainstream.

The alternative is having parasites eating up the purchasing power of my time/effort continously.

According to their own tainted inflation figures, 1GBP of 1914 is equivalent to 50GBP today.

So the sovereign costs 8x more today, ignoring gold suppression etc. In what pockets did the rest 7/8ths go?

 

I'd do my trading with electronics facilitating honest money, then redeem to physical whatever I regard as excessive floating in the system. Everyone wins.

Edited November 10, 2023 by JohnA1

[Bigmarc]

1 hour ago, goldsilverdash said:

"Gold on a blockchain" doesn't even sort of eliminate a trusted third party (unlike real cryptocurrencies). You would have to put massive trust in the entity holding all that gold creating big counter-party risk.

 

The closest I have found with this is aabb token. Issued by a mining company so essentially buying from source. 

https://aabbgoldtoken.com/

 

[goldsilverdash]

1 hour ago, HonestMoneyGoldSilver said:

For barter it will never be gold.

Why couldn't gold be used in barter trade? If you are bartering for "larger" items, gold coins seem perfect for it. Or in some extreme scenario, a gold coin could perhaps buy you food for the day.

[Bigmarc]

17 minutes ago, goldsilverdash said:

. Or in some extreme scenario

In a extreme scenario a man would swap his Porsche for a glass of water if needed but gold not needed until later.

[HonestMoneyGoldSilver]

7 minutes ago, goldsilverdash said:

Why couldn't gold be used in barter trade? If you are bartering for "larger" items, gold coins seem perfect for it. Or in some extreme scenario, a gold coin could perhaps buy you food for the day.

In the situation that barter becomes a thing then fiat has failed and been revalued to a fixed amount of gold. Silver in turn would be valued relative to gold with silver being crucial due to how little gold we actually have. The net worth of the USA was calculated at $123.8 trillion (assets = $270 trillion, liabilities = $146 trillion) in 2016 by the Fed and other gov agencies. This would be revalued in terms of the USA's 8133 tonnes of gold which makes gold worth ~ $15,000,000/kilo or $15,000/gram and $465,000/Toz

You can adjust those figures to account for privately held gold, stock market collapse or whatever. This is the source of the silly clickbait titles in some YouTube videos. That world is not one we want to see and we haven't considered what would happen to real prices in the real economy

Anyway, in barter gold could be used for large purchases but it would be too valuable for regular trade. Silver buys the food and fuel, gold buys property

[goldsilverdash]

33 minutes ago, Bigmarc said:

In a extreme scenario a man would swap his Porsche for a glass of water if needed but gold not needed until later.

Fair enough 🙂

Though, I guess you have to swap whatever you happen to have that gets you what you need.

[goldsilverdash]

7 minutes ago, HonestMoneyGoldSilver said:

Anyway, in barter gold could be used for large purchases but it would be too valuable for regular trade. Silver buys the food and fuel, gold buys property

Silver, gold, cryptocurrencies, small durable barter items like batteries, razor blades, lighters... - many things can be used in trade.

Preparing for barter, you would do well to hold some silver coins as well as gold coins in various sizes.

[Bigmarc]

10 minutes ago, goldsilverdash said:

Fair enough 🙂

Though, I guess you have to swap whatever you happen to have that gets you what you need.

Unfortunately I know no one that collects gold and silver. Actually no one I know has crypto either. Most just do ISAs and shares. I am not sure we will ever get to the point of bartering but will need to be paid some how. 

 

[Roy]

4 hours ago, Bigmarc said:

What's the smallest gold coin you can buy with an alloy in it? Half sov? 

Do you think they would make a quarter sov?

The RM have been making quarter sovs since 2009.

Perhaps not the smallest coin, but the one that comes to mind, is the .900 Dos Pesos.

https://en.numista.com/catalogue/pieces13933.html

Edited November 10, 2023 by Roy

[Silverlocks]

I have seen more than one party involved in trading gold comment that sovereigns are starting to get a bit rich for some folks' blood.  I'm not sure how much of that is just general recession and tightening of belts vs the high spot price of gold driving them up.

[JohnA1]

30 minutes ago, Silverlocks said:

I have seen more than one party involved in trading gold comment that sovereigns are starting to get a bit rich for some folks' blood.  I'm not sure how much of that is just general recession and tightening of belts vs the high spot price of gold driving them up.

Some of these may be people who need to urgently pay out credit cards and loans before they end up homeless after the Powers That Be  press the button for the Great Taking. And if they are on variable rate mortgages they have even more urgency to focus on what hurts most, instead of buying gold.

There are priorities..

[Roy]

1 hour ago, Silverlocks said:

I have seen more than one party involved in trading gold comment that sovereigns are starting to get a bit rich for some folks' blood.  I'm not sure how much of that is just general recession and tightening of belts vs the high spot price of gold driving them up.

 

48 minutes ago, JohnA1 said:

Some of these may be people who need to urgently pay out credit cards and loans before they end up homeless after the Powers That Be  press the button for the Great Taking. And if they are on variable rate mortgages they have even more urgency to focus on what hurts most, instead of buying gold.

There are priorities..

Yes to both, and both are as a result of excessive money printing- debasement of currency and rising interest rates.

But it don't matter, folk were paid to stay at home and offered loans that they would never pay back. Did anyone offer to pay back the money they had sitting idle in their accounts after the furlough had stopped?

[goldsilverdash]

3 hours ago, Bigmarc said:

What's the smallest gold coin you can buy with an alloy in it? Half sov? 

Do you think they would make a quarter sov?

What about 1/10 Krugerrands?

[Aldebaran]

20 hours ago, bluemoon said:

I though the whole point of gold is that it's worth the same today as in times gone by? So in theory, a Britannia is just as "expensive" as it was 20 years ago. This talk of fractional Sovereigns just makes me think to simply use silver.

There is the question of ‘size and space’ with regard to silver.

[JohnA1]

1 hour ago, Aldebaran said:

There is the question of ‘size and space’ with regard to silver.

That's a nice problem to have right now, yes😁

First world problems

[Brit2023]

3 hours ago, goldsilverdash said:

What about 1/10 Krugerrands?

How about the 40th anniversary edition at 0.5g?

[n1k0s]

On 10/11/2023 at 16:57, goldsilverdash said:

Indeed, it is incredible that people trust centralised crypto exchanges. But you don't have to, you can (and should!) hold your crypto funds in your own wallet for which you control the private keys.

There is a difference between crypto exchanges and blockchain money. Basically, blockchain money is a form of digital scarcity, but just digital. This eliminates trusted third parties, as verifiability is public to everyone. Exchanges like FTX, however, reintroduce counterparty risk into the system which is what the blockchain invention tried to avoid in the first place. 

[Scootermuppet]

On 11/11/2023 at 10:29, Brit2023 said:

How about the 40th anniversary edition at 0.5g?

(note: Scanning Electron Microscope)

[Roy]

0.5g you say?

https://en.numista.com/catalogue/pieces149749.html

 

[JohnA1]

Just don't sneeze near it😆

[Bigmarc]

On 10/11/2023 at 15:57, goldsilverdash said:

Indeed, it is incredible that people trust centralised crypto exchanges. But you don't have to, you can (and should!) hold your crypto funds in your own wallet for which you control the private keys.

Looks like this regulation (travel rule) is going to stop this and force everyone on exchanges. Not sure if you can kyc your wallet yet. 

[ChrisMarshall73]

12 hours ago, Bigmarc said:

Looks like this regulation (travel rule) is going to stop this and force everyone on exchanges. Not sure if you can kyc your wallet yet. 

Which is pretty scary in itself...

[Gruff]

On 10/11/2023 at 16:08, Paul said:

True story

[tpcob303]

I don't think its something new, having a variable range of different sizes/weights is a good thing in terms of investments as it can be easier to sell off compared to something larger like a whole oz. While the premiums might be higher you need a good selection of all types from 1/10 to 1oz in case TSHTF scenario and you can't go around using 1oz coins for everything but oz coins are still good if say we can barter a couple to buy a house in the future.