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Rare Gold Coins: Dramamine For Today’s Rough Seas

Gold coins are just what the doctor ordered to ease the queasiness investors are feeling as they try to navigate through the crests and troughs of today’s markets. Gold made a large step change upward yesterday and this morning it has been steadily climbing from there. But it is doubtful that we are in for smooth sailing quite yet.

The three major US stock indices are also ramping up, a strong indication that confusion is still in charge. Gold, it would seem, continues to share the same perception of risk as that of paper assets. More precisely, they both are reacting to a growing lack of faith in paper money.

It is very difficult to even consider the possibility that the world’s dominant currencies are in serious trouble. Our entire civilization has been built around them and we cannot conceive of a future without them. Yet we did quite well with hard currency up to just a little more than a century ago.

The end of fiat money does not mean the end of society as we know it. It means only a return to sound fiscal policy. There will be growing pains, to be sure, and the longer we wait the more severe those will be. But our sense of the future and our willingness to sacrifice for the good of that future is what sets us apart from every other species.

The only thing that stands in our way is fear of the unknown. Yet we don’t have to look so far back in time to realize that life without fiat money is far from unknown. Gold coins have been around forever while every experiment in fiat money has ended in failure.

The transition, however, has never been smooth sailing. Vast amounts of wealth are held in fiat money and regardless of how transitory such wealth is, it represents a formidable force for the status quo. Conversely, only a tiny fraction of the world’s real wealth is held in gold.

None-the-less, the course has been set and there is no turning back. An investment in rare gold coins may not be a cure-all, but it will smooth out the swells and make for a much more pleasant journey.

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