For some time now I’ve listened to friends such as Don Harrold, who have built successful careers on the basis of their powers of foresight, saying to me that they like our moves into copper. As Don put it to me some months ago: “Copper is the people’s metal.”
It would appear that the market is proving him out, as it often does.
While there weren’t many making that call (who can spend their time worrying about what penny-ante commodities such as copper will do anyway, right?), and as more experts recognize what the wiser ones “knew” beforehand, many are climbing on the bandwagon in calling for even better days ahead for copper and its relatives in the base metals market.
A check of those creating community currencies and company calling cards from the brassy metal would indicate that the demand has greater potential than even those experts could have imagined. As the bigger ticket items grow more limited in supply, buyers will invariably turn to that which can be had. For many that is more frequently becoming base metals.
But those who are strictly in the financial end of the market, those who are not relying on the value of the hard asset in their possession, are keeping their cards close to their vests as they watch the price fluctuations of industrial metals play out in an all-too-familiar cycle. Their experience and responsibilities dictate they take a much more conservative approach than those on the street. Though it could be argued that holding the commodity is the more conservative approach, I know. Both camps admit that the long and short hold a lot more promise than previously recognized by most. Except, of course, our friends, the soothsayers.
What it equates to for private community trading interests is the enhanced possibility that even greater advantages are available for the wealth retention and, more likely, appreciation than one finds in non-commodity based community currencies. AOCS has been taking advantage of the now obvious future and continues to aggressively secure copper deals with our mints for a number of community currency projects. The lower price point of copper results in an even smoother transition for anyone interested in making the transition to an honest money model such as the AOCS offers; all potential participants can afford to engage in the process.
With the prospect of immediate acceptance in virtually all transaction situations, copper community currencies hold a luster unmatched for small, day-to-day transactions. Virtually any buyers can gain entry into the new local trading market. This appeals to merchants who look for a broader customer base. In turn the buyers find a broader merchant base. And finally, Community Trade Coordinators have an easier time marrying that supply and demand.
There are numerous advantages beyond these such as those realized by merchants who choose to craft their own medallions. Not only do they immediately enter a burgeoning market by further facilitating honest value exchange, they do so with an indelible signature that keeps their business on the minds of those trading with their medallions throughout the local system.
Beyond examples such as that, the reasons are plentiful for communities and businesses to engage in the exploding honest money movement. Some of these will not be realized for some time as those tokens of trade carry the promise of persistence over lifetimes. Hopefully, for the benefit of all involved, so does the popularity of honest exchange.