Uncategorized Using gold as money Thursday 28 March 2013 reed 5 Comments Would using gold like this be legal in New Zealand? Can any reader advise (Mark Hubbard perhaps)?
5 thoughts on “Using gold as money”
Legal tender laws prohibit refusing legal tender from other to settle debts. Otherwise I know of nothing else preventing one from using whatever currency one wants to trade, provided it is by mutual consent.
The simplest way to use a product like this in NZ is to buy it in and then sell 1g squares on Trade me to cash in to fiat money when you need it.
Disclaimer: my last comment was not legal or financial advice.
This is awesome.
One question Terry.
How can we know we have been sold Real gold and not crap metal?
I guess we could measure the block with a micrometer and electronic scales and figure out if the math adds up.
Tim, the stamp on the Combibars and the reputation of the seller are your first two lines of defense against buying counterfeit gold.
Then there is this list of tests: http://www.wikihow.com/Tell-if-Gold-Is-Real