Using gold as money

Would using gold like this be legal in New Zealand?

Can any reader advise (Mark Hubbard perhaps)?

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5 Responses to Using gold as money

  1. Terry says:

    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.

    Great idea.

  2. Terry says:

    Disclaimer: my last comment was not legal or financial advice.

  3. Tim Wikiriwhi says:

    This is awesome.
    One question Terry.
    How can we know we have been sold Real gold and not crap metal?

  4. Tim Wikiriwhi says:

    I guess we could measure the block with a micrometer and electronic scales and figure out if the math adds up.

  5. Terry says:

    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

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