Gold could be much more efficient than cash for storing wealth. Interest rates remain low, meaning your money in the bank “earns virtually nothing,” CNN Money reports. When you factor in inflation, that cash may have lost value. It is recognized that gold has a history of long-term stability.
It's useful to have cash reserves on hand, but gold is a safe haven that can also serve as a savings vehicle. There are different cases for having your money in cash or in gold, but what about keeping your money in both? Over the centuries, people have continued to have gold for several reasons. Societies, and now economies, have valued gold, thus perpetuating its value. It's the metal we turn to when other forms of currency don't work, which means that it always has some value as insurance against difficult times.
Here are eight practical reasons to think about owning some gold today. Gold jewelry was already widely accepted in various corners of the earth, so creating a gold coin stamped with a stamp seemed to be the best way to find a standardized, easily transferable form of money that would simplify trading. In short, this act began to establish the idea that gold or gold coins were no longer needed to serve as money.