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Pack a Lot of Gold Coins for the Journey Back to the Gold Standard

A return to some form of gold standard is the only lasting solution to the current crisis, but what does that mean to gold coin investment?

I have always been fascinated by the frontier west, a time when a cowboy would slap a gold coin on the bar and get a bottle of whiskey in exchange. Back then gold coins had the look, feel, and sound of real money.

When I was a little kid the coins in my pocket were real money as well. With pocket change I could buy just about anything I wanted. Of course a few years later my interest turned to ‘folding money,’ but they were ‘silver certificates,’ virtually indistinguishable from my small collection of silver dollars.

Then dollars became just dollars. They were still redeemable in gold – if you were a foreign country – but something was definitely missing. In 1971 the final link to gold was cut. A dollar then bought what it takes $5.32 to buy today.

The biggest problem with going back to those times is the virtual worthlessness of the dollar today. A gold dollar, with 1/20 ounce of gold, would be worth more than 800 of today’s greenbacks. That’s a huge mental barrier to overcome. The shock of a sudden return to a pure gold standard would be more than the financial world could bare.

Those whose wealth was held in gold coins, of course, would be sitting in the catbird seat. None-the-less, wealth in a world of total economic chaos would be of small comfort. We didn’t get to where we are overnight, so it stands to reason we also cannot get back to where we started overnight.

Those who oppose the gold standard want us to believe it has to be one way or the other. It’s the same sort of black and white thinking that muddles every single social, political, and economic debate today. But there are shades of gray.

An orderly progressive return to the gold standard is the only way to bring about prosperity and economic stability that will transcend the generations. Investment in gold coins today will ensure you of smooth sailing through that long and perilous journey.

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