*Updated Oct 1, 2019*
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Believe it or not there is such thing as cash gold.
What is Karatbars cash gold? (spelled “cashgold”). It’s the marriage of a convenient today and reliable yesterday!
In 2015, Karatbars released cashgold to the market, first in its kind. The company literally embeds gold bars into thin pieces of paper and covers them with laminate.
If you think about it, pieces of paper is actually what replaced gold many times throughout human history.
According to official sources, the first paper money was created around the 10th century in China. Since then paper money was used instead of gold money by numerous nations.
Sometimes paper money was backed by gold, sometimes not.
When paper money was not backed by anything, sooner or later, people quit trusting that money. That is because backed up nothing that paper money eventually failed and people always came back to gold.
If talking about 20th century and the US paper dollar, the dollar became backed up by nothing after the fall of the gold standard in 1971. In other words, in 1971 the US dollar became fully detached from gold.
From that time and until present day, most people fully trust US paper dollar. In fact, most people stopped looking at gold as being money, thanks to these paper dollars.
Having said that, I think we are at that point when people will soon be starting to loose trust in paper dollars (you know what I am talking about if you’ve been following the news in the last little while). But let’s leave this topic for now.
In 2015, a piece of paper meets the very thing it replaced many times in the past — gold. What an irony! A paper note that looks like a bank note and a gold bar come together to create something unique… a cashgold note. Look at it.
Front side of 0.1 gram cashgold note
Back side of 0.1 gram cashgold note
A truly unique product. I would call it an innovation, no less than that!
A cashgold note unites two worlds: the today’s world of paper money and the yesterday’s world of gold money.
Most importantly, a cashgold note unites the best features of two worlds: convenience of today’s world and stability of yesterday’s world.
So, what Karatbars does is, it applies small gold bars to pieces of paper and seals them with a specially created laminate.
If you can imagine, a gold bar in a 0.1 gram cashgold note, for example, is a very thin bar. It is one tenth of a gram. However, the width and length of the bar are only slightly smaller than those of a Karatbars 1.0 gram bar.
The note itself is tastefully designed and is more durable than any other paper currency you are used to.
The cashgold note measures 6.6 cm (2.6 inches) in width and 15 cm (5.9 inches) in length.
In this coming fall, I believe in October, Karatbars will make people even more happy by releasing 0.2 gram, 0.4 gram and 0.6 gram cashgold notes.
Tip: A cashgold note is a unique present for your business associates. Their eyes will widen with surprise 🙂
♦ I want to own some cashgold today ♦
Main references:
www.karatbars.com
www.wikipedia.com
Wow this is actually a great idea, I never knew things like this even existed but still this was something that was informative and I really appreciate that you have actually written about it because not many people are aware of this method.
I really like what you have done in this post and I would really appreciate if you could be more detailed in the post.
I would love to read more
Thanks
Shrey
Hi Shrey,
Sure. Let me know where you want me to be more detailed.
I’m a bit of a fan of gold and I found your article really interesting. It’s intriguing that paper replaced gold as a monetary currency, as gold actually has an inherent value where paper pretty much has none.
Am I right in assuming that these karat bars increase and decrease in value depending on the market price of gold? It’s got me interested that’s for sure.
Darren, thanks for reading! Sadly, today, apart from a few countries, the whole world is functioning on worthless paper notes and digital currency (fiat currency) which cannot go indefinitely. According to economic patterns of the past, sooner or later, there should be a return to the gold-based financial system. If you want to know what exactly is fiat currency, go here.
Since Karatbars cards are embedded with 24 karat gold bars, yes, their price fluctuates with the gold spot price (on the daily basis).
If you have any more questions, give me a shout.