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<p>[QUOTE=&quot;medoraman, post: 1446156, member: 26302&quot;]Really? Show me how the government issued the $50 at face value but hoarding of it drive it from circulation. Your argument is a fallacy since you know darn well the notional value of a AGE is simply to call it a coin, not one AGE or ASE was ever sold at face value from the US mint.</p><p><br /></p><p>Gresham&#039;s law worked on older gold coins, but AGE has never been subject to it, since it never circulated at face value in its entire history. </p><p><br /></p><p>My basic definition of money is the medium of exchange that a society uses. When you go to the grocery store, how do they tell you what you total is? Do they tell you that you owe 4.36 grams of gold? 3.1 ounces of silver? 14 bushels of corn? 1.2 barrels of light sweet crude? </p><p><br /></p><p>No, gee I guess they tell you its $86.78, huh? Yeah, right in that second they tell you what is &quot;money&quot; in the US. It is the &quot;thing&quot; that all of us agree to exchange goods based upon. That&#039;s all, nothing more or less.</p><p><br /></p><p>We can get into other aspects of money, debate store of value, etc ad nauseum until everyone here is sick of it, but in the end &quot;money&quot; in any society is the commonly accepted medium of exchange that everyone accepts its value and denomination. I don&#039;t care if its USD, CAD, Euros, sea shells, gold, or twigs. If the price for a gallon of gas was 14 twigs, I would accept that twigs was our money, just like I would accept gold were our money if for a gallon of gas the gas station had on their sign they wanted 1.34 grams of gold a gallon for it.</p><p><br /></p><p>Its not. I simply deal with reality rather than wishful thinking, wanting everyone to covet my little stockpile of PM more than they do.[/QUOTE]</p><p><br /></p>

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