Money needs to be stable. In order to be stable, it needs to meet these 7 characteristics.
(1) It must be durable, which is why we don’t use wheat or corn, or rice.
(2) It must be divisible, which is why we don’t use art work.
(3) It must be convenient, which is why we don’t use lead or copper.
(4) It must be consistent, which is why we don’t use real estate.
(5) It must possess value in itself, which is why we don’t use paper.
(6) It must be limited in the quantity that is available, which is why we don’t use aluminum or iron.
(7) It should have a long history of acceptance, which is why we don’t use molybdenum or rhodium.
Only GOLD and SILVER fit all seven characteristics.
EVERYTHING else is inferior which makes them credit. They are essentially Gold substitutes.
If you had a race to see who was the fastest man in the world there can only be one winner and ONLY ONE person can hold the label of the fastest man in the world. It doesn't mean that the rest are slow it just means that they are not the fastest.
Value is ultimately determined by the person holding the money. "He who has the Gold makes the rules."
Silver has industrial use. Gold not so much anymore.
Gold to me is like paper money except I can wipe with paper.
Silver might be more valuable than Gold one day.
Gold is used in electrics. Important electronics.
Maybe you forget all the gold contacts and PCB plating used in electronics
But it’s microns thin there is almost none. It’s there to protect from corrosion. Silver is used way more as it’s a much better conductor.
Holy fuck you're a dumb ass.
ALL important electronics use pure gold. The iPhone alone has 0.034g of gold in it.
And 0.34 grams of silver… like I said gold almost not used. It’s use is very light plating to prevent oxidation. It’s not like the old days when the playing was super heavy.
I think silver's industrial use reduces the monetary aspect of the metal, gold serves as a better proxy for wealth as very little is used for industry and the rest is a store of value. The value is also the fact that holders hold it, which is another reason why it's scarce.
Average 2.2 ozt per roll of war nickles