Asked in Coins and Paper Money
Coins and Paper Money
Why use coins as currency than gold bars?
Answer

Wiki User
May 26, 2014 12:54PM
They are more portable.
Related Questions
Investing In Gold Futures?

A top choice for investors, gold is a reliable source for
investments in any economic condition. Gold is often bought, sold
or traded depending on the market value by a number of investors,
banks or private citizens. Gold that is used for gold futures
investment often comes in the form of gold bars used by the United
States Government or as bouillon coins. Another option to investing
in gold futures is to purchase stocks in gold mining companies.
These stocks may not always increase in value, and in some cases,
may become worth far less than the cost of gold.
Investing in gold futures is often a speculative endeavor, as
the prices of gold fluctuate over time. While gold futures are
often promising and in recent years have been rising steadily it is
important to keep in mind that these rates may vary. Rates may
suddenly drop or rise depending on the demand or the economy or may
slowly change over time. Gold investments are often considered
recession proof because the value of gold does not change the way
normal currency does. Because gold cannot be printed the way
currency can be and there is a limited supply to gold, the value
often goes up, making investing in gold futures less risky than
currency.
Gold bullion coins used for investing in gold futures are often
used as they come in a variety of weights, allowing for investors
to purchase coins that meet their budget at the time. Investment
grade gold coins are also used by investors to secure their gold
futures. It is often recommended to purchase lower value investment
grade coins as their value is not as high rising as other forms of
gold investments.
Small investors interested in investing in gold futures will
find that gold coins are easier to obtain than gold bars. This is
due to the fact that gold bars are subject to storage fees and
other costs as the bars are most often stored by the broker instead
of kept at the home. Gold coins can be kept in a bank box or at the
investor's home, removing the need for storage fees or other
costs.
Asked in Coins and Paper Money, US Coins, Gold and Precious Metals
What is the value of a gold coin that is 1 oz pure gold?

The price of gold 1oz is set once or twice a day by London. If
you go to a teller in the Canadian Bank of Nova Scotia which sells
coins, the teller will look it up in that day's printout and if you
want to buy, she'll send to the vault for your coin. The coins are
a little more expensive than the 1 oz bullion bars, and some coins
are more expensive than others depending on rarity and beauty. For
instance the Canadian Maple Leaf, South African Kruger Rand, and
American Eagle which are essentially bullion coins are a bit more
expensive than the bars but not as expensive as Chinese Pandas
which are rarer and prettier. The price of coins can be found at
kitco dot com.
What is Fractional Currency exactly?

Fractional Currency was used during the Civil War due to the
fact that many people were hoarding coins for the metal and gold,
not for the monetary value.
Fractional currency is small denominations that are less than
the standard monetary unit. For example, paper money that is worth
less than $1. Fractional currency was commonly issued during the
Civil War by the government.
Asked in History, Politics & Society, American Revolution
Can Americans legally own gold?

Since 1975, Americans can own gold. This means Gold Jewlrey,
Gold coins and bars. The US Mint has produced Silver, Gold, and
platinum coins for several years called eagles. 1oz 1/2 oz, 1/4 oz
and 1/10 oz gold and platinum and 1 oz Silver. Many older
circulation coins from the US and many other countries are
availaible. Many of these are worth more than their gold value and
are more suited for collectors. Many countries such as Canada,
China, Gibraltar and South Africa produce .999 pure gold coins.
Just search for GOLD COINS on the web and you will see plenty for
sale. Hope this helped.
Asked in Roman Empire, Ancient Rome
What currency was used in ancient rome between 70ad to 80ad?

Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Roman currency was standard. During the times of Vespasian the
standard currency was used, that is, denarius, sesterces, aureus
etc. The only difference was the images on the coins which were of
the Flavians, rather than, say, Nero or Augustus.
Asked in British Coins
Are British Sovereigns numismatic or bullion?

At one time, all British gold coins including the Sovereign,
were circulating currency.
Since 1980 particularly, the 22 carat gold Five Pound, Two
Pound, Sovereign and Half-Sovereign coins can be considered
non-circulating legal tender and are only produced as Proof FDC for
collectors and investors. Their actual value is much greater than
their face value and you would be a fool to spend one at the shops
for a Pound's worth of goods.
Bullion is defined as a precious metal such as gold or silver,
etc., in the form of bars or ingots for storage or future
processing.
Bullion is more or less what you would have if you melted the
coins down for their gold value.
Gold Coins For Collecting And Investment?

Gold coins are coins entirely or almost entirely
made of gold. Gold has been used for currency for thousands of
years due to its intrinsic value and because it is regarded as a
universal form of currency by most of the world's societies.
Gold's beauty and durability has made it highly useful for
coinage. Its economic value stems from its scarcity, which resists
destabilization of value. Since gold has a high density-to-value
ratio, it can easily be converted into smaller units without loss
of value.
The Egyptian Pharaohs made gold coins in the third millennium,
B.C., mostly for use as gifts. The first gold coins used for
circulation were issued around 600 B.C. by Croesus of Lydia. The
Chinese minted gold coins known as ying yuang around 60 B.C. They
also manufactured different units of gold, such as the talent,
which was the forerunner of the modern 400 troy oz. ingot.
Afterwards, gold coins became universally accepted as a form of
currency and for international trading between merchants and
governments. Use of gold for currency was abandoned in the early
20th century, when most world governments dropped the gold standard
as a response to the hoarding of gold in the face of the Great
Depression. The United States ceased to value the dollar in
relation to gold in 1933, and forbade gold hoarding.
Gold remains highly valuable, however, for purposes of
collecting as well as for bullion. Collecting of gold coins is
lucrative, and coins are valued on condition, rarity, age and the
number of coins minted of a certain type. For example, Southby's
sold an exceedingly rare 1933 U.S. Double Eagle in 2002 for over
$7.5 million. And in 1999, a Liberty Head Golden Eagle from 1854
sold for $135,700. Many collectors buy gold coins for investment
purposes, as their collectable value tends to increase over
time.
Bullion gold is gold in bulk, either as coin or ingots. It's
used primarily for commodities trading. Bullion's value is based on
purity and density rather than its face value as currency. Many
traders invest in bullion as a hedge against inflation, or for
investment purposes.
The European Union designates certain gold coins to be used for
investment purposes. The South African Krugerrand was created
especially for investors. It's highly valued due to its high gold
content of one troy ounce.
Asked in Coins and Paper Money
Why is gold in coins?

because you cant make gold into paper(easily)
Gold has an intrinsic value, being a precious metal. That means
that a gold coin's value can never be less than the value of the
amount of pure gold it contains.
In the past gold's value was relatively stable so its use in
circulating coinage made sense. Because its worth was fixed, it
wasn't subject to the whims of politicians or economic changes that
caused other forms of currency such as paper money to lose value.
However when the price of gold was deregulated it became impossible
to issue coins made of gold because fluctuations in the metals
market could cause a coin to be worth more for its gold content
than its face value, as happened with silver coins in the 1960s.
Today gold coins are struck for collectors and investors, and are
sold as investments with a value based on whatever the current
price of gold is when they're purchased.
Asked in US Coins, Gold and Precious Metals
How is gold transported in coins?

Until the beginning half of the 1900 there was a link to the
value of the paper money you were issued in that it could be
exchanged for GOLD. Say you had a $20 American Bank note this could
be exchanged for $20 in gold.
The World problems started when the US left the Breton Wood
system and went away from the Gold Standard and freely started
printing money with no backing. The reason today the Swiss currency
is stronger than most is because they control what they print and
have a large amount of gold to back the currency. If Germany was
not in the EU them the D.Mark would be close to the Swiss Franc.
Always interested in further views.
See related links for a few beautiful gold coins.
Asked in Math and Arithmetic
What is The smallest number of coins that will total exactly 19.95?

It depends on the currency.
Current US coins are limited to $1 so the number of coins to
reach $19.95 will be 24. Nineteen $1 coins, three quarters and two
dimes.
In times gone by, US currency included $10 and $5 coins so the
number was once lower than the current 24 coins.
UK currency has a £2 coin so £19.95 will require 14 coins. Nine
£2 coins, one £1 coin, one 50 pence, two 20 pence coins and a 5
pence coin.
Asked in Coins and Paper Money, US Coins, Gold and Precious Metals
Is there any real gold in gold dollars?

Yes, the U.S. gold dollar coins produced between 1849 and 1889
were 90% pure gold. They are the smallest coins ever minted by the
U.S. government (significantly smaller than a dime). They sell for
about $100, today.
The "presidential dollar" coins and other US dollar coins made
since 1932 are mostly copper with a brass cladding. They contain no
gold, at all.