It is still the case of buying gold coins versus the Greenback today as each entity attempts to win pole position as the preferred medium of exchange in the global economy today.
Greenback vs. Gold
Although the Greenback made a strong comeback as the standard in global trade many times over in the course of mankind’s history, many international traders still preferred to trade using gold or gold coins in the nineteenth and early twentieth centuries. International traders would ask for the unique $20 Double Eagle gold coin which was minted quickly after the California gold rush era in 1848. Hence, the gold content in these gold coins are quite substantial; one piece is worth about an ounce of gold.
Gold continued to be the preferred medium of trade even in WWI. Hence, the US government stopped gold coin minting to preserve the value of gold within the nation.
Reasons for the choice of Gold
The Great Depression and the crash of the stock market in 1929 underpinned gold’s importance in the global monetary system. With the crash of the stock market, the economy experienced much adverse effects in the form of depression; global traders only wanted to trade in gold because trust in paper currency had been shredded to pieces. Hence, the US gold reserves took a steep dip which instigated ordinary US citizens to hoard some gold personally. This in turn, caused President Roosevelt to draw up an immediate law prohibiting any personal ownership of gold by any US citizens.
This harsh step was taken because the US government knew it had to reserve all the available gold it could in the wake of the tough economy during that time. The prohibitive law was lifted only in 1974 with the President having the final word on any personal ownership of gold even to this day.
Protecting your fortune
Gold is considered a measure of your wealth or personal fortune because no one needs to know how much or how little you really have. There are many ways to protect your wealth using gold. The best way that is highly recommended is the ownership of gold coins. Rare gold coins do not come under the prohibitive law of gold ownership in the United States. The federal gold confiscation laws have not applied to numismatic gold or silver coins.
Hence, it is possible to acquire and accumulate your wealth today stealthily without prying eyes and without any intervention of the law. You can determine your wealth through the acquisition of rare gold coins as in numismatic gold coins which can be easily traded today.
Greenback vs. Gold
Although the Greenback made a strong comeback as the standard in global trade many times over in the course of mankind’s history, many international traders still preferred to trade using gold or gold coins in the nineteenth and early twentieth centuries. International traders would ask for the unique $20 Double Eagle gold coin which was minted quickly after the California gold rush era in 1848. Hence, the gold content in these gold coins are quite substantial; one piece is worth about an ounce of gold.
Gold continued to be the preferred medium of trade even in WWI. Hence, the US government stopped gold coin minting to preserve the value of gold within the nation.
Reasons for the choice of Gold
The Great Depression and the crash of the stock market in 1929 underpinned gold’s importance in the global monetary system. With the crash of the stock market, the economy experienced much adverse effects in the form of depression; global traders only wanted to trade in gold because trust in paper currency had been shredded to pieces. Hence, the US gold reserves took a steep dip which instigated ordinary US citizens to hoard some gold personally. This in turn, caused President Roosevelt to draw up an immediate law prohibiting any personal ownership of gold by any US citizens.
This harsh step was taken because the US government knew it had to reserve all the available gold it could in the wake of the tough economy during that time. The prohibitive law was lifted only in 1974 with the President having the final word on any personal ownership of gold even to this day.
Protecting your fortune
Gold is considered a measure of your wealth or personal fortune because no one needs to know how much or how little you really have. There are many ways to protect your wealth using gold. The best way that is highly recommended is the ownership of gold coins. Rare gold coins do not come under the prohibitive law of gold ownership in the United States. The federal gold confiscation laws have not applied to numismatic gold or silver coins.
Hence, it is possible to acquire and accumulate your wealth today stealthily without prying eyes and without any intervention of the law. You can determine your wealth through the acquisition of rare gold coins as in numismatic gold coins which can be easily traded today.
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