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> since it has lost most of its value as a currency in harsh times? Gold isn't a currency its money. A currency is backed by a store of value, money is a stor
by dangerface 7y ago
> since it has lost most of its value as a currency in harsh times?
Gold isn't a currency its money.
A currency is backed by a store of value, money is a store value.
Gold is a great store of value because its rare and doesn't expire this is why humans used it as the first form of money thousands of years ago, and it's why people continued to use it up until very recently.
> what exactly are you going to buy with your gold coins when all supply chains are broken and most goods can't be produced even at a higher price?
Total global economic collapse seems very unlikely, but let's say the US government collapses in that case the US currency Dollars collapses completely, it has no value its just monopoly money.
Today in a war zone where supply chains are broken, local currency or dollars are worthless, but gold will still have the same value world wide no matter what, simply because it is the value.
Tuna goes off after a year so while valuable its not a good store of value.
Gold doesn't go off, it doesn't rust, it has lots of uses in electronics like phones and computer, only a very small percentage of the worlds supply of gold is used for jewellery / decoration.