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.