Frequently Asked Questions
Why is Gold (and Silver) Money? (cont)
- Gold has an intrinsic value, because it is rare, highly desired by the world over, and is a luxury item.
- Gold has no liability attached to it.
- Paper currencies have never stood the test of time.
There is not a single other commodity with those attributes, except, perhaps, for silver. Since gold is too valuable to be used for small transactions, there is potentially more monetary demand for silver. When gold becomes money again, silver will be desperately needed to make change. Platinum and palladium may come close to gold, but they are not so easily recognized by the masses, and are used mostly by industry.
- Gold has an intrinsic value, because it is rare, highly desired by the world over, and is a luxury item.
- Gold has no liability attached to it.
- Paper currencies have never stood the test of time.
There is not a single other commodity with those attributes, except, perhaps, for silver. Since gold is too valuable to be used for small transactions, there is potentially more monetary demand for silver. When gold becomes money again, silver will be desperately needed to make change. Platinum and palladium may come close to gold, but they are not so easily recognized by the masses, and are used mostly by industry.
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