Money Supply Question

[Ozwest]

Think laterally.

As the population increased, each "gold coin" would increase or decrease in value relative to goods and services. Its "intrinsic" value.

 

[Paulitician]

What do people mean when they say gold has 'intrinsic' value? Nothing has intrinisic value in economics, because all value in economics is subjective. However, if something is valuable it is affected by the law of supply and demand. Ever hear the quantity theory of money?