Silver and gold have been used as forms of currency for thousands of years, and despite the advent of modern currencies and financial systems, they have remained popular among investors seeking stability and security. Historically, silver and gold have been referred to as "God's Money," and have been seen as a store of value and a safe haven in times of economic uncertainty.
Throughout history, gold has been used as a means of payment and as a store of value. Gold coins were first minted in Lydia in the 7th century BC and were used for trade across the Mediterranean region. By the 6th century BC, the Persian Empire was using gold coins as a form of currency, and the practice spread throughout the ancient world. In the 19th century, the United States adopted the gold standard, linking the value of its currency to gold and making it the most trusted currency on the planet.
Silver has also been used as a form of currency for thousands of years. In the United States, silver coins were commonly used until the mid-20th century, when they were replaced by paper currency and coins made from "lesser medals" like copper and zinc. Silver still however retains its value as an investment, and is used in many industrial applications, such as electronics, solar panels, and medical equipment.
Gold and silver have proven to be reliable stores of value over the long term. For example, in 1928, a $20 gold piece could buy a tailored suit, custom hat, and pair of shoes. Today, that same $20 gold piece is worth around $2,100, which is still enough to buy a tailored suit, custom hat, and pair of shoes. In 1978, a gallon of gas cost 25 cents or a silver quarter. Today, that silver quarter is worth about $5, which is still enough to buy one gallon of gas. So if you had the "right money," you would have been impervious to inflation.
In recent years, some investors have turned to cryptocurrencies, such as Bitcoin, as a potential alternative to gold and silver. However, it's important to note that Bitcoin and other cryptocurrencies are not digital gold or digital silver, nor can they ever be. While cryptocurrencies may have some of the characteristics of traditional forms of currency, such as being a means of payment and a store of value, they lack the tangible qualities of precious metals. Unlike gold and silver, cryptocurrencies are not universally recognized or accepted, and their values can be extremely volatile.
While cryptocurrencies are often touted as being decentralized and outside the control of governments and financial institutions, that is not true. Big Brother is always watching, and crypto transactions can be stopped, cut off, or limited as we saw when people wanted to donate Bitcoin to truckers on strike in Canada, and the Canadian government stopped that with immediacy. The lack of regulation can also make them vulnerable to fraud, theft, and other criminal activities. Overall, gold and silver may not make people rich, but they have certainly retained their purchasing power over the long term. As a reliable store of value, they provide a stable and secure investment option for those seeking to protect their wealth in times of economic uncertainty. Goldbacks are a new form of gold currency that have been gaining popularity among investors and collectors alike. These bills are made of a thin layer of 24-karat gold and are available in various denominations, ranging from 1/1000th of an ounce to 1/20th of an ounce. What makes them unique is that they are not backed by a government or central bank, but rather by the value of gold itself.
For people looking to invest in gold, Goldbacks provide a great option with a very inexpensive barrier to entry. Unlike traditional gold investments, which often require large sums of money to get started, Goldbacks can be purchased for as little as a few dollars. This makes them accessible to a wide range of investors, from those just starting out to seasoned collectors.
One of the main advantages of Goldbacks is their portability. Unlike physical gold coins or bars, which can be bulky and heavy, Goldbacks can be easily carried in a wallet or purse. This makes them a convenient option for people who want to have access to their gold investment at all times. They also help ensure the free flow of people and commerce; and the ability to settle any and all debts or make purchases with "privacy." While cryptocurrencies like Bitcoin may be the new kid on the block, nothing can replace the timeless appeal of gold and silver. They will "always work" and "always be valuable."