What intrinsic value???

Gold and silver bars and coins (especially with Liz's head on them) are valuable to me as torture devices and/or soporific aids.

The only real values to me is when these elements are used in the creation of fine art and high technology. I also have a lot of respect for the geniuses who worked out how to refine the stuff and recycle the stuff. Bars and coins are endlessly boring to me. Hoarding is endlessly boring. Collecting has no appeal to me; I'm definitely not a 'shiny thing' lover but rather a 'useful thing' lover. Bars and coins are a lot like money that just sits there and isn't being used to do something useful and/or productive.

Because I don't directly do anything with gold or silver (but I use items that make use of these elements daily, like computers, tablets and solar panels), I can't directly assign a price to it. But if I could I suspect that gold would get a good whack down. I don't see the price as normal in any sense of the word. 1800 bucks for this little bit of this metal? Again, can't see that as normal by any stretch.

 

It seems to me that your position is one in opposition to the notion that there is some objective, specific 'intrinsic value' of a piece of metal or anything for that matter.



I've come to understand that all value that a piece of metal has is attached value and that the claim that a piece of metal has 'intrinsic value' is a rather ridiculous concept but one that is still held by some good people. In terms of a hypothetical silver coin as just one example, the value that we each attach doesn't necessarily have to match the current spot price plus the premium asked. And, this attached value (what we think is the right price for that hypothetical silver coin) is usually not fixed and constant but usually changing depending on potentially numerous factors.


This just seems to be logical to me.


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