Pieces of 50

As we move forwards towards a gold standard, we will need many new innovations (as well as a rediscovery of old things that have long been forgotten).  At the Gold Symposium in Sydney Australia, I saw an exhibitor who has a new, innovative product.  They have thin sheets (almost like wafers, especially the gold ones). They are engineered and precisely scored that one can break off a small rectangle.  With one’s bare hands.  They guarantee that every rectangle will have exactly 1g of metal.  There is a gold product and a silver product.  The individual 1g rectangles are the same width X length, with the silver being about twice as thick.

Gold_wafers

I don’t believe that all, or even most, transactions will be conducted in gold coins passing over the counter.  But gold coins will certainly play a role.  The innovation here is that one can carry a sheet or a smaller-sized quantity, say the size of a credit card.  One only breaks it apart if one needs to conduct a small transaction.  1g of silver is worth about $1 and 1g of gold is worth about $54 at today’s price.

The product is manufactured by Valcambi, a Swiss company that is certified by the London Bullion Market Association as a refiner.  The distributor in Australia is Bullion List (www.bullionlist.com.au).

I am very excited to see such innovations.  I think they are a sign that the cultural tide is turning and the illusion that is irredeemable paper money has been dispelled for more and more people.

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