Problem with using gold as a currency is that it can easily be forged ie adulterated with impurities so everyday traders would have no way of knowing its purity. Just stamping an ingot with for example 99.9% pure is no guarantee.
The price of gold must therefore in part reflect the difficulty in establishing beyond reasonable doubt its purity. Even some well known people who should’ve known better have been duped with impure gold. Heaven help the average Joe if we were forced to trade in gold.
The price of gold must therefore in part reflect the difficulty in establishing beyond reasonable doubt its purity. Even some well known people who should’ve known better have been duped with impure gold. Heaven help the average Joe if we were forced to trade in gold.
