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Gold As A Currency
The dollar is not doing good in the money market and neither is Europe's currency. Considering that these two used to be situated at the top, it isn't surprising that most people are wondering how to go about investing for their future. This is why currencies coming from world-leading countries have taken a backseat to a more traditional currency: gold.
It's well known that before people developed the concept of money, gold has been accepted as the main medium of exchange. Nowadays, there are even more reasons why reverting to gold for your investments is so much better than the usual stocks and bonds.
First of all, gold is well known as a hedge against inflation. Although the value of the dollar or euro fluctuates, gold remains stable and may even appreciate. Its many industrial uses not to mention being a well-known jewelry ensures that gold will always be in demand in the market.
Take it this way, the value of $100 ten years ago is nowhere near the value of $100 today. However, the value of gold remains the same from year to year as one kilo of this precious metal remains one kilo even after decades.
Gold is one of those pieces that is globally acknowledged without going through the “changing” process. People from Japan would need to change their Yen to Dollars before purchasing items in the U.S. Market which could change the value of their currency. However, gold does not require this type of change as the metal is recognized the world over.
Another advantage of gold is that it's value is not largely tied to the economic standing of countries. Gold is a type all on its own and currencies would be changing to it rather than it changing to them. Compared to other investment opportunities like stocks and bonds, gold is in a class of its own. Gold is an asset that people can hold on to even when in really bad times.
Currently, gold may be incorporated in a person's 401k should they so choose. Although some 401ks do not allow different investment types, there are those that make room for gold 401k. For those who want to start investing on gold for their future, try contacting a precious metals IRA specialist for tips. They should provide the necessary steps in rolling over to a gold investment.
The IRA have also been accepting precious metals for some time now. Keep in mind though that investing everything you have in precious metals is not advisable. Ideally, you should leave about 90% of your funds for diversification, the other 10% for gold. This way, you will have a solid back up should one market falls.
Of course, not all gold products are being accepted for Gold 401k accounts. Ideally, they should be around 99% pure and has been checked by professionals. Coins accepted for your gold ira include the United States Eagle, Australia Gold Nugget, American Buffalo and Canadian Maple Leaf. Gold bars are also accepted as long as they respond to requirements.
Gold Series : Canadian Maple Leaf Gold Coins