{"id":2329,"date":"2018-03-22T11:51:37","date_gmt":"2018-03-22T11:51:37","guid":{"rendered":"https:\/\/www.ukbullion.com\/blog\/?p=2329"},"modified":"2019-02-21T13:32:17","modified_gmt":"2019-02-21T13:32:17","slug":"would-you-buy-bread-with-gold","status":"publish","type":"post","link":"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/","title":{"rendered":"Would You Buy Bread with Gold?"},"content":{"rendered":"

It\u2019s been over 80 years since the UK abandoned the gold standard. For a century before that, the system decreed that a pound of British currency would be worth a distinct weight and purity of gold. After 1931, however, gold was no longer used in circulating currency, and has since then been used for jewellery, gold bars and investment bullion<\/span><\/a>, as well as commemorative gold coins<\/span><\/a>. <\/span><\/p>\n

Now a new app, called Glint Pay<\/span><\/a>, wants to bring gold back? Can it work?<\/span><\/p>\n

What is glint pay?<\/b><\/span><\/p>\n

This new start-up app lets its users pay for real world goods using a \u2018credit\u2019 system, which is redeemable against a physical value of gold. In fact, it\u2019s not too dissimilar to a number of initiatives that have sprung up in recent years allowing customers to pay with Bitcoin and other cryptocurrencies<\/span><\/a>. <\/span><\/p>\n

Cryptocurrencies are however difficult to use as spending currency, because their value is too volatile. Glint Pay, offers a similar virtual currency option, where users can buy a physical quantity of gold inside the application, which is then redeemable in everyday spending against the value of the gold. <\/span><\/p>\n

The gold itself is held in a bank account in Switzerland. It\u2019s not the same as actually holding the gold yourself \u2013 but it\u2019s undeniably secure.\u00a0 <\/span>And it\u2019s security and stability that Glint Pay trades in, relying on gold\u2019s reputation as a hedge against inflation to offer a reliable spending \u2018currency\u2019, with all the flexibility and opportunities of digital currencies like Bitcoin. <\/span><\/p>\n

Is spending gold back?<\/b><\/span><\/p>\n

Okay, chances are gold isn\u2019t making a comeback as spending currency anytime soon. This initiative might yet be phenomenally successful, but even so, gold will continue to exist as an \u2018alternative\u2019; running parallel to national fiat currencies, rather than alongside them. <\/span><\/p>\n

This is good for those of us who want to take advantage of gold\u2019s stability and reliability. As inflation rises<\/span><\/a>, the value of the pound in your pocket falls. If you want to protect your wealth against economic uncertainty<\/span><\/a>, buying gold continues to be the most effective way to ensure this. <\/span><\/p>\n

Start your gold investment portfolio today, by looking through our entire range of gold bars<\/span><\/a> and gold coins<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s been over 80 years since the UK abandoned the gold standard. For a century before that, the system decreed that a pound of British currency would be worth a distinct weight and purity of gold. After 1931, however, gold was no longer used in circulating currency, and has since then been used for jewellery, gold bars and investment bullion, as well as commemorative gold coins. Now a new app, called Glint Pay, wants to bring gold back? Can it work? What is glint pay? This new start-up app lets its users pay for real world goods using a \u2018credit\u2019 system, which is redeemable against a physical value of gold. In fact, it\u2019s not too dissimilar to a number of initiatives that have sprung up in recent years allowing customers to pay with Bitcoin and other cryptocurrencies. Cryptocurrencies are however..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[273],"tags":[66,37,106],"yoast_head":"\nWould You Buy Bread with Gold? - UKBullion Blog<\/title>\n<meta name=\"description\" content=\"By offering spendable currency pegged to the gold price, a new app wants people to buy bread, milk, and other everyday items using the value of gold.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Would You Buy Bread with Gold? - UKBullion Blog\" \/>\n<meta property=\"og:description\" content=\"By offering spendable currency pegged to the gold price, a new app wants people to buy bread, milk, and other everyday items using the value of gold.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/\" \/>\n<meta property=\"og:site_name\" content=\"UKBullion Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/UKBullion\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-22T11:51:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-21T13:32:17+00:00\" \/>\n<meta name=\"author\" content=\"UKBullion\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@UKBullion\" \/>\n<meta name=\"twitter:site\" content=\"@UKBullion\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"UKBullion\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/\",\"url\":\"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/\",\"name\":\"Would You Buy Bread with Gold? - UKBullion Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#website\"},\"datePublished\":\"2018-03-22T11:51:37+00:00\",\"dateModified\":\"2019-02-21T13:32:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/b75a2818471441bc13534ace4965f7f2\"},\"description\":\"By offering spendable currency pegged to the gold price, a new app wants people to buy bread, milk, and other everyday items using the value of gold.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/would-you-buy-bread-with-gold\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ukbullion.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Would You Buy Bread with Gold?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#website\",\"url\":\"https:\/\/www.ukbullion.com\/blog\/\",\"name\":\"UKBullion Blog\",\"description\":\"Welcome to the UKBullion Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ukbullion.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/b75a2818471441bc13534ace4965f7f2\",\"name\":\"UKBullion\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/81b58785af6a958fc9b5b694ef5069c6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/81b58785af6a958fc9b5b694ef5069c6?s=96&d=mm&r=g\",\"caption\":\"UKBullion\"},\"description\":\"UKBullion.com are the UK's leading site for buying Gold, Silver, Platinum and Palladium Bullion Bars. 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