CFDP 1031R

Is Gold an Efficient Store of Value?


Publication Date: September 1992

Revision Date: February 2002

Pages: 15


Gold and tobacco have both been used as money. One difference between the two is that gold yields utility, on account of its beauty, without diminishing its quantity. Tobacco yields utility when it is consumed. If this were the only difference, which would be the better money?

See CFP: 1084