Gyroscopic Investing

That is, have you ever sold a coin somewhere other than your home country, in lieu of traveler's cheques or converting your home currency?

I know that Mark Leavy travels with a coin or two. I wonder if he has.
Anyone?

Why on earth would one want to do that ?! Whats wrong with simply using a credit card when traveling ??

I mostly travel in Asia, and most of the vendors don't take credit cards. e.g. street food.
I don't plan to do it, honestly. Just curious if anyone has. Maybe they picked up overseas gold and spent some of it.

Street food ? Surely would be easier to pay with a note than a gold coin....

grapesofwrath wrote:Street food ? Surely would be easier to pay with a note than a gold coin....

lol, For currency EXCHANGE, grapes. Not for currency.

I do carry a few half ounce coins for exactly that purpose. But only as a backup plan in case my debit cards were to ever stop working for some reason. Not that unreasonable. I primarily use my debit cards for local hotels, plane fights and ATM's. I universally spend local fiat money in the street.

I frequently get my debit cards automatically cut off by whatever fraud detection software they have running. My spending patterns fall well outside the norms. Fortunately, I've never had all of my debit cards cut off before I am able to figure out how to make a voice call and confirm no fraudulent activity.

As an aside - that is a royal pain the rear. I usually get cut off because I'm spending money in some far away sketchy part of the world. And the bank needs an immediate voice call to re-enable my card. Right...

So, no I have never exchanged gold for local cash. From what I have seen, it would be fairly straightforward in most places - but with a hefty loss on the transaction.

Still... I like having it as plan C. After multiple debit cards and after whatever fiat I have with me.

Thanks, Mark. Yes, those card cut-offs are a pain, even 15 minutes from home. My local grocery acted like I was thief, but it turned out to be Amex being hyperprotective. I've got it sorted out with most card companies at this point.

Once I've told my bank when and where I'm traveling abroad I haven't had a problem.
FYI, I actually grew up in areas of Africa during some very turbulent times in 70's and 80's - witnessed first hand impact of revolutions, civil wars, mercenaries, death and refugees flooding across borders. Forget about zombie movies - I am haunted by those experiences and it had a lasting impact on my view of gold as fail safe currency. The problem now is whenever I look at a gold coin/bar I always instinctively wonder how I can hide and smuggle it.... But would still rather choose plastic for ordinary events.

Grapes, I'm glad you made it to Australia, and wherever you are now.

By the way, did you originally write something about google maps' estimate of flight time from the US to Aus. but then delete it? I would think someone else wrote it, someone who didn't live in Aus for ten years. I can't find it and it's bugging me.

Nope, never wrote anything about google flight time to Australia.....but I know its very long. Yes I lived in Aus for ten years but now live in US (for about 10 years now too) somewhere cold and snowy...

Ok, I guess that was before (I was aware that) the search was at full capacity again.
I just found it by searching for It was written by JohnnyFactor.
(contented sigh)