I LIKED THE NEW "FOLDABLE GOLD" THE FIRST TIME I SAW IT.
IT'S, WELL, "PRETTY".
The characteristic luster, color, and shine of the 24-karat gold used is immediately apparent.
i'd like Geronimo's face, overlaid on a map of the Little Big Horn River.
Last year, a company called Valaururm developed a technology that’s making this possible.
“Aurum” – similar in dimension and thickness to a U.S. dollar bill. This gold (usually 1/10th or 1/20th of a gram) is commercially recoverable. So an Aurum offers similar potential as a coin or bar, in terms of providing a vehicle for storing and exchanging known, dependable increments of precious metals – just in much smaller (and more affordable) amounts than commercially available to date.
The big idea here? In a world where a 1oz coin of gold costs over $1,200, an Aurum will let you hold a few dollars’ worth of gold in a single note. If you’ve got pocket change, you can be a precious metals owner.
And you don’t have to change your behavior. You can store and transport an Aurum in your billfold along with your dollars.
Being able to hold gold in this form is significant for several reasons.
First, it makes gold ownership available to all budgets. Many of the world’s households have been priced out of gold to date. This changes that completely.
Second, it enables the potential for everyday transactions should we ever return to a precious metal-backed monetary standard. It answers the challenge: How will you pay for your groceries with gold? With an Aurum, it’s now easy.
A (small) sovereign central bank is deep in negotiations with Valaurum to replace its existing national currency with aurum notes, creating a true precious-metals backed monetary system. As best we know, this would make it the only one in existence in the world today.
If this indeed occurs, it could be a game-changer.
Changes in trust and perception always begin with a non-conformist having the courage to depart from the herd’s consensus.
Even a small country rejecting fiat money in favor of a gold standard will catch the attention of others. And as the current currency wars exacerbate, as they inevitably will, more countries will increasingly look to adopt monetary regimes that work better. Perhaps that will be a return to gold, in this new form.
Whether Valaurum’s product emerges as the winning horse or not, the world definitely needs this type of solution (i.e., convenient fractional physical metal) to go mainstream.
I LIKE IT.