Aurum: filling the gap between polymer notes and gold
Aurum: a thin layer of pure gold between printed polymer plastic layers.
This is an interesting idea. Actually trading in gold in a familiar pocketable, foldable format.
It is actual gold, not a purported/flimsy claim to a thing.
Can be melted back down to pure gold.
Denomination are small about 1 -2 dollars AUD.
Fills the gap between ounce bars making gold more divisible.
A familiar format for people; a note of value.
Customizable note images.
protected from central bank manipulation largely.
Could be forged with a gold appearing foil.
Gold cannot be tested with out destroying the note.
One denominations 1/20 of a gram meaning you would need approx 622 to make an ounce.
Gold is normally measured in troy ounces making the maths weird: i.e 622 to the ounce, a quarter of an ounce is 155.5 Aurum notes.
For small gold units people can and have used links in gold necklaces, more easily testable.
How much premium is there on this gold format over ounce bars? 300%, very steep margin!
will there be other denominations such as 1/40th gram or 1/10 gram, will denominations be in fractions of ounces to match the standard troy ounce system.
A system of 1/500th of an ounce ( and 1/1000th) would have made more sense, like the metric system or not, gold has been in troy ounces for a long time. No problem adding the metric equivalent along side this number, but still the unit should be based on troy ounces (1 troy ounce being 31.1 grams).
More security features, holograms, weird difficult to copy patterns etc. A way to optically (non destructively) verify that is really is gold and not a polymer illusion.
Accept Bitcoins for these, it think the trade would be brisk as a lot of Bitcoin investors we those a little late for the gold bug and may now wish to diversify.
Has any one considered silver coins with a small individual, removable plastic container, similar idea to this.
Posted on January 21, 2014, in Consiousness, Economics & Finance, Monetary system, Physical resources, Reblogged, Video and tagged Aurum, Gold. Bookmark the permalink. 1 Comment.
I think if the price came down to 10-20% above the price of gold in ounce bar format, it might be viable, otherwise just too pricey. Mass production may help bring down prices.