Who wants Diamonds to be legal currency?

[Robert W]

We hear the Gold hawks plead to use GOLD as the official currency. Buyers of GOLD learn the hard way that deflation is built into the use of GOLD.

My oldest daughter collected coins. She appeared to me to be expert in them. She knew vastly more than I know about prices of Coins and even of Gold. She asked me to purchase her GOLD. I did so. I later learned that to sell it, it would not sell at top prices, but deflated prices. We lost money on GOLD. It was a lesson I never forgot.

Dollars as well as other global currencies can be easily used to purchase goods and labor and easy to deposit into banks.

It got me to wonder since GOLD is well known to be heavy, why not use Diamonds instead? A small hard stone located on the ring fingers of many millions of women would seem to be superior to GOLD.
Any thoughts on this?

 

[Toddsterpatriot]

We hear the Gold hawks plead to use GOLD as the official currency. Buyers of GOLD learn the hard way that deflation is built into the use of GOLD.

My oldest daughter collected coins. She appeared to me to be expert in them. She knew vastly more than I know about prices of Coins and even of Gold. She asked me to purchase her GOLD. I did so. I later learned that to sell it, it would not sell at top prices, but deflated prices. We lost money on GOLD. It was a lesson I never forgot.

Dollars as well as other global currencies can be easily used to purchase goods and labor and easy to deposit into banks.

It got me to wonder since GOLD is well known to be heavy, why not use Diamonds instead? A small hard stone located on the ring fingers of many millions of women would seem to be superior to GOLD.
Any thoughts on this?

Too common.

 

[surada]

We hear the Gold hawks plead to use GOLD as the official currency. Buyers of GOLD learn the hard way that deflation is built into the use of GOLD.

My oldest daughter collected coins. She appeared to me to be expert in them. She knew vastly more than I know about prices of Coins and even of Gold. She asked me to purchase her GOLD. I did so. I later learned that to sell it, it would not sell at top prices, but deflated prices. We lost money on GOLD. It was a lesson I never forgot.

Dollars as well as other global currencies can be easily used to purchase goods and labor and easy to deposit into banks.

It got me to wonder since GOLD is well known to be heavy, why not use Diamonds instead? A small hard stone located on the ring fingers of many millions of women would seem to be superior to GOLD.
Any thoughts on this?

Did she buy these gold coins off the television?

 

[Robert W]

Did she buy these gold coins off the television?

I bought them from a Gold dealer. We went to his store.

 

[Robert W]

Too common.

Like you find them in every state of the USA still in the soil???

 

[1srelluc]

You would have to do something about the 300-1000% mark-up first.

 

[lg325]

Diamond dollars, Gold, Silver dollars, Petroleum dollars. Paper money backed by commodities both metals and minerals and Agriculture commodities.

 

[Robert W]

You would have to do something about the 300-1000% mark-up first.

Thank you for talking as if I personally have that kind of power. I don't .

 

[1srelluc]

Thank you for talking as if I personally have that kind of power. I don't .

I thought it nicer than saying your idea was FUBAR....Because it is.

 

[Toddsterpatriot]

Like you find them in every state of the USA still in the soil???

No, like they're too common.

 

[OhPleaseJustQuit]

We hear the Gold hawks plead to use GOLD as the official currency. Buyers of GOLD learn the hard way that deflation is built into the use of GOLD.

My oldest daughter collected coins. She appeared to me to be expert in them. She knew vastly more than I know about prices of Coins and even of Gold. She asked me to purchase her GOLD. I did so. I later learned that to sell it, it would not sell at top prices, but deflated prices. We lost money on GOLD. It was a lesson I never forgot.

Dollars as well as other global currencies can be easily used to purchase goods and labor and easy to deposit into banks.

It got me to wonder since GOLD is well known to be heavy, why not use Diamonds instead? A small hard stone located on the ring fingers of many millions of women would seem to be superior to GOLD.
Any thoughts on this?

.

Well, the price of gold always has to do with the market.

But diamonds? ANY diamond, unless it's a known stone of special appeal, loses 3/4 of its value the second it walks out the store.

Diamonds totally suck. I have one that I only keep because of the special meaning it has for me because it was an important gift from my hubby. The rest of the diamonds in the world just suck.

.

 

[okfine]

I call you 5W for a good reason. You are definitely not that bright.

 

[Robert W]

You would have to do something about the 300-1000% mark-up first.

There is a massive mark-up on GOLD and not very much on Currency.

 

[Robert W]

I thought it nicer than saying your idea was FUBAR....Because it is.

There are two FUBARS.
Gold as money
Diamonds as money

 

[Robert W]

.

Well, the price of gold always has to do with the market.

But diamonds? ANY diamond, unless it's a known stone of special appeal, loses 3/4 of its value the second it walks out the store.

Diamonds totally suck. I have one that I only keep because of the special meaning it has for me because it was an important gift from my hubby. The rest of the diamonds in the world just suck.

.

I have never bought diamonds as an investment. I now have a reason to check buying them vs selling them. When I spend a dollar, it is not discounted by the merchant as is Gold and Diamonds.

 

[Robert W]

I call you 5W for a good reason. You are definitely not that bright.

When you are addressed as 1/2 W, it will be me.

 

[Orangecat]

Gold is a wise portion of a diversified portfolio. Same goes for land, art, stock market investments, and good old cash. Jewelry? Not so much (especially if you buy it new).

 

[Orangecat]

Did she buy these gold coins off the television?

You have a talent for asking the dumbest questions.

 

[Robert W]

Gold is a wise portion of a diversified portfolio. Same goes for land, art, stock market investments, and good old cash. Jewelry? Not so much (especially if you buy it new).

Currency is very wise. Gold has a major problem. The discount when used. It is not true Gold gets retail prices, The owners of Gold sell it at wholesale prices. Dealers mark it up.

 

[Orangecat]

Currency is very wise. Gold has a major problem. The discount when used. It is not true Gold gets retail prices, The owners of Gold sell it at wholesale prices. Dealers mark it up.

Like anything else, you have to buy when it’s low and sell when the price goes up. If you buy from a dealer, they have to make a profit, and if you sell to one, they have to buy at a discount. Gold isn’t for short term gains, it’s a hedge against inflation in the long term.