Comment: Why would an individual use

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Why would an individual use

Why would an individual use serialized gold bars for transactions? Banks used them the same way they would use large denomination bills. Nobody wants to count a few million dollars in $20 dollar notes.

Coins are much more practical. For example, how would you make a small purchase with a ten ounce bar? Coins are actually "small bars" of a precious metal, with a government's stamp, guaranteeing the weight and purity of the coin.

Rather than using bars, you would use American Eagles: 1, 1/2, 1/4, or 1/10 ounce coins. You could also use Canadian Maple Leafs or South African Krugerrands. For even smaller purchases, you used silver coins. In fact, this is how we conducted business a hundred years ago.

There is nothing wrong with paper money, SO LONG AS IT IS REDEEMABLE IN REAL MONEY - gold and silver.