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MichaelAnissimov comments on Items to Have In Case of Emergency...Maybe. - Less Wrong
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Too valuable in the current economy to measure in small quantities, sure. But in a postapocalyptic wasteland, the economy will have shrunk drastically while the available quantity of gold stays the same. Hence, gold is the new silver and silver is the new tin.
An "apocalypse" like nuclear war is not particularly likely to kill off more than half the population, at most.
If a first-world country suffers a calamity in which half its population dies, it'll lose nine-tenths of its economic output at least.
Good point. I find it pretty hard to believe that people would start using gold instead of silver for casual transactions, but I suppose it's possible.