If a gold coin of the Roman Republic were dug up now, it would have its original value, though the Roman Republic perished two thousand years ago.

The reason Roman coins are dug up in such abundance is because they were constantly being debased. Gresham's Law applied just as much then as it does now - bad money drives out good. Money that is buried (hoarded) does not circulate, which means it no longer functions as a medium of exchange and therefore is no longer money in the true sense of the word. I have yet to see a theory of money, gold or otherwise, which gets around this problem of debasement. The real issue is not what we use as money but how to enforce honest weights and measures when the only institution capable of doing so (government) has a vested interest in NOT doing so. Our current system of fiat money is proof that a gold standard cannot solve that problem. Money is whatever the government says it is, for as long as that government stands.

ebear