Skip to comments.Demand For Gold "CombiBars" Soaring
Posted on 12/24/2012 6:33:43 AM PST by Kartographer
One of the biggest complaints about gold - always a parallel currency to paper, and soon to be serial, once the world shifts to a post-paper currency reality in which faith in infinitely creatable electronic paper money is finally destroyed - is that it would be an impractical medium of exchange, as the traditional denominations are so large one would be unable to trade one ounce (and certainly one bar) for every day needs. This is also one of the main reasons various retail investors prefer silver over gold. All this may be changing courtesy of Swiss refiner Valcambi which has created a CombiBar, a credit-card sized, 50 gram block of 99.9 gold, which is precut, and which can easily be broken into one gram pieces which can then be used as forms of payment in an emergency. And since one gram of gold has roughly the value of two ounces of silver, it is a far more practical lowest common denominator unit of exchange than the traditional one ounce minimums in broad circulation.
(Excerpt) Read more at zerohedge.com ...
Pieces of eight.
Real da a ocho, was probably the first true world currency. Our first dollar was based on the Spanish dollar. In fact the American dollar could be divided like pieces of eight, hence the term “two bits”.
50 grams of gold is pretty expensive. The pieces are equal to two ounces of silver or about $75. Someone needs to make a silver equivalent for us poor folks.
You are forgetting that when the hyper inflation kicks in, a loaf of bread will cost about $75. You'll be fine with gold.
Maybe I’ll just buy bags of flour and cut out all these middle guys :-).
“...Someone needs to make a silver equivalent for us poor folks.”
Valcambi, the mint that makes the combi bars, also produces a silver product.
Silver rounds are one ounce.
take your one ounce bar of gold and exchange it for 40-60 ounces of silver.
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