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Gold and silver coins can still be used as money. Who’s stopping you? Why would you? | Gold Investment Deals

Gold and silver coins can still be used as money. Who’s stopping you? Why would you?

November 29, 2012 by  
Filed under Gold Coins


Lots of people complain they have to use paper money, backed by nothing, instead of gold and silver. Who are they blaming? Nobody is stopping people from accepting payments in gold and silver. Or making them. Does it make sense to give someone your gold or silver for something when you could give them a credit card payment or even cash payment instead? A restaurant in our neighborhood says they take gold coins on their menu. In the late 70’s and 1980 when silver was spiking, lots of different businesses took old silver coins. And our mint keeps making silver and gold bullion coins. Nobody says you have to accept a 1 ounce gold eagle for just the $50 face value. We gladly accept silver and gold as payment of our professional fees. Nobody wants to pay that way though. Good choice on their part. Gresham’s law makes sense. Better to charge it to the plastic, or pay with paper dollars, than part with any of your precious metal. Basically, you don’t want to part with it until you have to, or it’s very much worth it to you. I bet the restaurant in our neighborhood gets about zero of its meals paid for with gold, or silver.

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Comments

3 Responses to “Gold and silver coins can still be used as money. Who’s stopping you? Why would you?”
  1. thefighter60 says:

    i dont know if its my computer but your volume on this video is very low

  2. MrLivePositive8 says:

    Want Freedom & Wealth?

    ctsfreedomandwealth . com

  3. 19housecat85 says:

    nice

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