The medium of exchange is the tool that facilitates the indirect exchange system, which we created as a solution to the inefficient barter system.
Instead of having to 'sell' the good that you dont want directly for the good you do want to 'buy' (barter), you can now 'sell' the good for another good(the medium of exchange), and then 'buy' the goods and services you want with the medium of exchange.
For this to work, the medium of exchange(money) must be a useful commodity that can retain consistent tangible value and utility, and therefore always have demand from others who are in turn looking to exchange their goods for said commodity (now the means of exchange). One of the most important benifits of this is that the medium of exchange can now act as a 'store of value', where 'purchasing power' can be stored in a commodity that can reliably be predicted to retain value over time.
Many commodities have been used as the means of exchange throughout history, but the free market has determined Gold and Silver suit our purposes for a means of exchange best.
Crypto currency fails as a means of exchange as it is not a commodity with any utility in and of itself, therefore cannot be a store of value. Despite its advantages over commodities in a digital sense, it is still expensive, slow, and difficult to use(relative to other mediums)
I must point out the despite the beliefs of the crypto investing public, cryptocurrency is still plagued with the primary problem that baseless Fiat money has - and that is not infinite supply cap, but the simple fact that it has no tangible, inherent value in and of itself.
They will argue that its inherent value is that it's a 'superior means of exchange to anything else', but this is folly, and rooted in economic ignorance. It is no surprise, considering for the past 100 years+ the general public has been kept totally ignorant of even the most basic economics i am describing here.
Cryptocurrency certainly is superior to Fiat in its qualities, the most obvious being a limited/predictable supply. But unfortunately this is not enough, and ultimately time will prove it to not be adequate when capital flight flees from crypto and into a genuine store of value, precious metals.
>Impact Silver - Mexico - 122 MC silver/lead/zinc/copper/gold >Dolly Varden - Canada - 95 MC gold/silver/copper ----- >Canada silver cobalt - Canada - 63 MC silver/cobalt/nickel/gold/copper ----- >Vangold - Mexico - 22 MC gold/silver >Klondike - Canada - 24 MC - silver/lead/zinc ----- >Denison Mines Corp - Canada - 368 MC - uranium >UEX Corp - Canada - 88 MC - uranium/cobalt/nickel ----- >Bannerman Resources - South Africa - 75 MC - uranium Rate my PF. Didnt take position in everything yet, most are still in wait for fund. Poor wageslave.
based as fuck. how much capital you working with? im glad i got in KS early, just a shame i couldnt get more at the time. vangold still very cheap however. im hoping uranium cools down for a few months and gives me a chance to get some capital across my favourite small caps. BMN is one of them.
Christopher Price
Does anyone else find it amusing that cryptotards use gold to indicate that their crypto makes them wealthy?
Im already in Vangold, but need one more gold position to complete my PM holdings. Any suggestions of what to look into? Something with a small - medium mcap ideally
Also I can't decide whether to buy 1 oz plat or a half ounce of gold
I buy whatever is the cheapest, ideally under 1% premium. If I would go just for beauty I would stack Vreneli and St. Gaudens Double Eagle, but those are 6-10% where I live.
I havent been able to find anything of equal value to vangold, which i actually consider to be just as much as a silver company as a gold company, considering the immense amount of silver which has been produced from the mine in the past. I personally dont like diversifying for the sake of it, and am very happy with my current allocation.
Lincoln Wood
I swear ive seen more than half of the above posts before
Alexander Scott
I'm going on an NGC binge at the moment buying slabbed modern sovs. Premiums are galactic but I don't care, I'm rich and I fukken love slabbed sovs!
your choice fren, but remember in the end, Gold is Gold and graded modern coins will most likely not hold their premium in your life time. Whats the premium you would get if you sold this King George to your dealer where you bought? Will he give you more than just pog?
Connor Harris
Its ok, my slabbed coins are not part of my liquid bullion savings. They are for my son (7yo) he will inherit them. Market value for a slabbed pf70 proof is usually 2.5 x spot or thereabouts. I paid £350 for that half and £700 for the full. Getting the double next month.
I've 40k physical PM and just started investing into miners. I've like 3k5 into the PF right now and adding 1k every month. Impact and Vangold are my biggest holding and I honestly love them. Impact is already a producer with big upside while Vangold potential is huge. I also love the fact that VGLD give you update nearly every 2 weeks, their communication is top notch. Missed KS windows entry, kind of sad but that's how it is, waiting for next month to buy. I didnt touch uranium yet as I'm focused on silver for now, will probably buy starting March since PM will be too trendy at that moment.
Jacob Nguyen
Hefty premium, you could have given your son (atleast its not a daughter!) easily double the amount of pure gold. Not sure if that will play out, might aswell buy a few pre33 us coins or even old queen victoria Sovereigns instead.
Spend your money as you wish, but it's a waste in my opinion. It's like those guys who put bullion queens beasts in ngc slabs, you're collection gold, not patterns on a coin.
If you are going to buy something slabbed then at least get an early date sov like the 1822 or those shield sovs which are actually collectable because that are over 150 years old.
I am going to build a mixed bag for him over the years but every year between now and my death will include a pf70 proof sovereign set 1/2, full and double as well as silver bars, bullion gold and crypto. I imagine him dealing with my funeral 30-40 years from now and being given the bullion chest and seeing all those gold coins. He will always know I looked out for him even when I am gone.
>Bitcoin can’t be a store of value because it has no intrinsic value. It can’t be a unit of account because it is too volatile. It can’t be a medium of exchange because it is not widely used to price goods and services. These are the three properties of money. Therefore, Bitcoin can’t be money. But Bitcoin has no other basis for being valued, therefore it is valueless. QED. >I call this argument, semantics therefore reality. What could possibly falsify this? It is, at root, a claim about the material world; about what will, or in this case won’t, happen in real life. And yet it looks rather like it relies entirely on the meanings of words...
Caleb Hughes
Its a numismatic hedge. You dont think a ms/pf70 gold qb will sell at an astronomical premium?? It will. Check the auction results.
Landon Richardson
> >(atleast its not a daughter!) Based
>buy a few pre33 Redpilled. Get the coins that were supposed to be handed in but never were. Indian head and the double eagles (st gaudens) are def kino.
an excellent mix of juniors and mid tier producers, you sir have done your homework i see.
Kevin Harris
It does sell for a premium, I'm not denying it. Still a waste as we both know those bidders are amateurs for paying for a bullion coin with no limited mintage. You have to account for the fact that someone (because it's for your son) in 20 years will buy it for a similar premium. Also, how the hell do you even store 10 oz in slabbed coins? That must take up half a room.
The slabs are tiny! I'm actually having annual presentation cases made for my sets. Going to get 2020-2030 made in advance. At least proof sovs have limited mintages. Only 7995 from 2020 onwards and only 60 were graded pf70. In 40 years maybe they will do quite well, who knows. For every slabbed coin I buy, I get 10 x the bullion.
Inflation supposedly has an 18-month lag time between currency creation and price increases to account for the newly printed currency.
How screwed will no metals be by this time next year?
Kevin Martinez
thanks fren, in the same category as pre33 coins I think you can also buy the 2 Rand South African coin, its from a time where SA was actually a nice place, has the same alloy and size as Sovereigns, considered to be the smaller brother of the generic Krugerrand and can be found worldwide. Also it is much cheaper in premiums compared to pre33, I can pick them up for 2-3%. Other honorable picks are 20 Reichsmark, pre Elisabeth Sovereigns, swiss Helvetia and Vreneli, russian empire gold coins and soviet chervonetz Чepвoнeц.
