Is there evidence that jewelry was a good store of value in previous generations though?
We hear about families selling their jewelry to escape the country or when they're short on funds, but did they actually get a good price for it?
We hear about families selling their jewelry to escape the country or when they're short on funds, but did they actually get a good price for it?
This was in a country with high inflation that's just gone through a regime change. Did he get a good price for the watch? Yes, at that moment, the truck was more valuable than the watch.
Three trucks full of wet concrete have value too, but they're a helluva lot less convenient to bring with you in a bag on the run.
Jewelry is (a) small, (b) valuable, (c) widely exchangeable for currency or goods.
Sure, you're going to take a haircut on the price, depending on how screwed up your immediate environment is, but there will be some buyers at some non-zero price.
It’s used as a store of wealth that is likely to appreciate. Doesn’t matter if the currency goes bust, ownership is recognized by the government in all but the most extreme examples.
We’re spoiled in the developed countries where you have thing like government bonds and equities (where public companies are vetted to some standard) and courts that can reliably protect ownership of an otherwise intangible asset.