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<p>[QUOTE=&quot;chrisild, post: 2466918, member: 39&quot;]The term &quot;intrinsic value&quot; makes some sense, at least in certain situations. After all, several countries issue silver (and, more rarely, gold) coins at face value. But of course, if I pick, say, a €20 silver coin up, the silver in it does not have a value of €20 at the time of issue. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> So people may want to know &quot;what&#039;s in there&quot; ...</p><p><br /></p><p><br /></p><p>This &quot;fiat currency&quot; talk sounds like &quot;car with wheels&quot; to me. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /> Sure, there was a time when the value of a coin - except for small change - was determined by its gold or silver content. Even then, the purchasing power varied widely.</p><p><br /></p><p>But I agree, in a way gold and silver are plain commodities, with values being results of market transactions. And especially with the growing influence of ETF investors, prices may go up and down even faster these days. People in countries with relatively unstable or fragile currencies may well have reasons to say &quot;In Gold We Trust&quot; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /> but it would be naive to believe that the value of platinum, gold or silver could be something autonomous ...</p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>

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