[theBuckwheat]

If a major country converted to a gold-backed currency, it would be a major blow to the fiat currencies if the monetary base were large enough.

[ClearCase_guy]

Tungsten

[ROCKLOBSTER]

HOW DO WE GET THEM?

[Jet Jaguar]

Goldbug Ping.

[Jet Jaguar]

[null and void]

[palmer]

We have the same thing here. In my hands I have a $50 dollar circulation gold buffalo in section of original plastic wrapper. If I come to your store, you must accept it like you would a fifty dollar bill.

[dr_lew]

These numbers indicate 1/4 and 1/2 troy ounces of gold in the 50 and 100 ruble pieces. The ruble is supposedly worth about $.03, so this doesn’t make any sense!

It’s gotta be some kind of “Franklin Mint” thing, doesn’t it?

[KarlInOhio]

If real gold, why would anyone ever use this as cash? A half ounce of gold is worth 25,220.46 Rubles (according to www.xe.com). Now if anyone wanted to exchange it for its face value of 100 paper rubles or even three crisp United States dollars I would be glad to provide the paper money.

[wildandcrazyrussian]

This makes no sense if made from actual gold and silver, being priced at about 1/200 of actual intrinsic value. Is there some normal reason to issue a piece of gold worth $800 (15.55 gm = 1/2 oz) at a "nominal value" of $3?

The Russian website says that they are only issuing 100,000 and 300,000 of these anyway, so they sound like collectors items ("uncirculated" condition) rather than mass currency.

[William Tell]

Gold and Silver ARE money. If the paper says on it, "Pay to the bearer on demand...", then the government is obligated to exchange the paper for silver or gold.

It's up to the buyer and seller of goods to agree on prices.

If Russia was really trying to convert to a gold or silver backed currency, then it must be done in a fashion which does not toy with existing debts or assets.

[gotribe]

Price of gold in rubles:

http://www.taxfreegold.co.uk/goldpricesrussianrubles.html