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<p>[QUOTE=&quot;Juan Blanco, post: 1569056, member: 41665&quot;]I should correct this, with one exception that I know. In currency arbitrage, a Portguese dentist once asked to &quot;buy&quot; my father&#039;s Dollars for Escudos on the belief the Escudo (his Paper Money) would be devalued. To this foreign gentleman, Dollars were in fact both <i>physical money </i>(accepted tender, &#039;black market&#039;) and <i>speculative investment. </i>This case is different than the professional currency trader who is &#039;making money&#039; on the trading activity itself ...or the modern banker, mandated to hold physical asset reserves.</p><p><br /></p><p>Synthetic instruments like money mkt funds and other contractual share schemes (call them e-zero assets) aren&#039;t <i>physical money </i>by definition. Those abstractions (with hidden counter-party risk) can be considered investments, however.</p><p><br /></p><p>If thought as an &quot;classical investment&quot; (be that as it may) a &#039;coin, collected&#039; is likewise transformed and conceptually quite different:</p><p>a) physical money <i>removed from circulation, </i>and</p><p>b) commodified as a now numismatical asset.[/QUOTE]</p><p><br /></p>

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