Enough that I can make a (modern) $1 purchase with something at least as big as a dime.
Like I said, there are solutions to this: substitute coins and electronic holdings accounts. I just don’t think a monometallic cash standard is viable, that doesn’t mean there’s necessarily anything wrong with gold as a unit of account and ultimate ‘cashing out’ of substitutes.
Liberte is right, gold will hardly do the trick. With no bimetallic coup to oust it, I think silver will be the money of the people, with gold being sold only in ingots for large, large transactions.
Gold is the unit of account, I think. But to cash out 1/100th of an ounce, you are a silly person. Keep bars, but not flecks.
I think the “Golden Dome” point was that a small amount of gold can be used on a larger substance so you wouldn’t have small coins
Well, I see how you could gold-coat a worthless plastic coin, but would the coating be durable? Even a minute scratch would at once halven the value of the coin.
And besides, the cool thing about metallic money, is that you can just shove them up a scale and weight them, instead of counting. With a coin that is not even 1% gold in weight, could you do that?
Well, I see how you could gold-coat a worthless plastic coin, but would the coating be durable? Even a minute scratch would at once halven the value of the coin.
And besides, the cool thing about metallic , is that you can just shove them up a scale and weight them, instead of counting. With a coin that is not even 1% gold in weight, could you do that?
OK, I really haven’t given this much thought:
But could the gold be “protected” (that is on the inside) by a transparent plastic? I would imagine a company would have standarized weight units. I was mostly thinking of bimetallic coins though. Some worthless metal mixed with gold and put on standardized units for measurment.