![]() ![]() Gold and silver coins had the advantage over other metals used for coinage in that they had an intrinsic metal value close to the face value at which they were exchanged. Another limitation is that the relatively high value of gold meant that it was not that practical for small transactions.Īs a consequence, silver also became a popular metal used in coins. One limitation of using gold coins for commerce, however, has been that it was most practical for face-to-face transactions. Using gold in coins for payment purposes has a great combination of advantages-durability, portability, standardization, relative ease of production, and others. Gold coins have circulated for thousands of years.
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