Imprimer

FAQs

Translation help would be appreciated.

What do the coins look like?

One side should show a uniformly designed Swiss flag and the gold content in grams. The other side is available to the issuing private firms for their self-presentation, within responsible limits. There would be, for example, gold coins from banks, retailers or by nonprofit organizations.

What determines the cost and the value of the gold coins?

Gold coins are nothing but practical, usable Goldvrenelis. The price of Goldvrenelis is on the one hand dependent on the price of gold in the world market and to a lesser extent, on the collector’s value of certain vintages. Similarly, the gold price of the gold coins depends on the gold price, plus the production costs of the coins. However, because the issuing firms may present themselves on the coins, they will want to sell as many coins as cheaply as possible, which is expected to cover a good part of the production costs.



Is there enough gold for a Gold Coin Currency?

If new gold coins are to be created, the gold for them is bought on the free world gold market. As a result, the demand for gold will rise and with it the price of gold and of the gold coins respectively. Any increased demand can thus be met by an increasing price, all the way to the most extreme possible case, namely if all the money in the world would be exchanged for gold coins.



How is counterfeiting prevented?

Counterfeiting is always and everywhere a problem and must be prosecuted and punished. Gold coins do have an advantage over the current paper money since, in principle, coins are more difficult to copy than printed paper. Moreover, since the issuing companies are presented on the coins, they will want to assure a good reputation for their coins and do all they can to assure the best possible, tamper-proof quality.



Will there be two prices for everything in daily life?

No. The gold coins are purchased as a liquid asset and not as a means of payment for everyday use, because the Franc is perfectly suitable for that and will hopefully remain so for a long time to come. It is conceivable that gold coins will be used as a tourist attraction in certain regions or for specific events, then it would be treated just like the foreign currency are treated today in border areas. It is also probable that gold coins will be used in areas of conflict and for international commercial contracts.



How does the Gold Coin Currency affect the Franc?

Gold coins are purchased mainly as a liquid asset, as a alternative reserve currency, as a “safe haven currency.” Today, huge sums of Francs are bought, especially by foreigners, for precisely this very purpose and are causing the National Bank, the Swiss franc’s exchange rate and the Swiss economy all kinds of problems. If in the future people buy gold coins instead of francs, this will relieve the Swiss franc and tend to stabilize it’s exchange rate, for the benefit of all.



What are the costs and the risks to the public?

The federal government defines the coins and supervises the private producers. This will cause neither risks nor any special costs whatsoever to the federal government or the taxpayers.



Can we not do this today already?

No, see above. The main reason is probably the global legal uncertainty. The number of regulations tend to increase. Even in Switzerland, inquiries are conducted on how certain types of investments can be subjected to the VAT. In the U.S., the possession of gold coins for individuals was outlawed from 1933 to 1976, while the memory of their recent history makes many Germans worried and scared about the future. Switzerland has probably the world‘s best political conditions to realize the idea of a Gold Coin Currency, for the benefit of our residents, the economy, Switzerland and the world.

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