So you have my attention: How exactly would you pay someone in gold? Or readily convert it to cash? Is it really better some how than cash itself? How would you convince someone who is not an enthusiast like yourself that your coins were legit? If you went to a pawnshop or jewelry shop with one ounce of gold, would they give you the actual trading price of gold on that particular day, or would they give you some portion?
The first thing to consider is that gold has gone up in price every year for the last 11 years. Since the start of this year, gold has already risen 8% and as long as paper currencies continue to depreciate in value, gold will continue it's upward trend. Gold will not continue it's uptrend forever, however, it looks likely that it will continue to appreciate in value against paper currencies for the next several years, if not the rest of this decade, at least.
The second thing to consider is that it does cost money to produce the coins, and dealers must make some profit, so there will always be a premium over the spot price when you buy a coin. Spot prices that you see on financial websites are the prices for very large certified bars that are sold on large exchanges. Buying in small quantities, like most goods, will cost a bit more. This means you will be taking a hit on the day you buy it, but after a few months, that premium you paid will vanish.
Currently, the spot price for an ounce of gold is $1,546.50. (A year ago it was $1,250). There will be approximately a 4 to 5% premium to buy a one ounce coin from a dealer. The 1/10 ounce coins that I like to carry have a higher premium of around 15 to 20%, however, I like the ability to barter or sell in smaller amounts and the premium is worth it to me. When you attempt to sell them, you will likely receive the spot price or the spot price plus 2 to 3% over spot if selling to a coin shop, jewelry store, pawn shop, commercial smelter, or prospecting supply store.
Internationally, gold has much more recognition than it does in the United States and will be easier to sell. The form of coin you choose will have some importance. If your primary travels will be in Mexico, for instance, then you will be better off carrying Mexican Libertads. In the former British colonies, the British Sovereigns would be more appropriate.
If you are trying to barter your coin with someone who doesn't know it's value, then one option you have is to say to that person: "Here's a half ounce of gold. This is worth at least $x amount dollars. You hold on to this and help tow me out of here, and you and I can go together to a gold shop to make sure you get your cash".
The reason that gold is better to carry than cash? Consider that a roll of gold coins, the size of a roll of dimes, is currently valued at over $7,500 and can be readily converted into that amount of cash within 24 hours or less anywhere in the United States or Canada. That's a lot of money packed into a small space. Gold is also waterproof and fireproof (not completely fireproof, but much more so than paper money) and gold can be easily hidden because of it's compactness. It's also an appreciating asset. Instead of carrying cash that is losing value, you'll be carrying money that is increasing in value. I believe you should still carry some cash, but I feel really safe knowing that I have ready access to enough money to replace an entire engine in some far flung small town if needed, irregardless of whether I have cash or credit cards.
A final note of advice... don't buy from dealers on TV. They charge 40 to 50% premiums and will dog you forever with spam email, phone calls, etc. trying to get you to constantly trade into some other product to increase their sales volume. Either find a local coin shop to work with, or use one of the larger online gold dealers that consistently have low premiums like apmex.com or gainesvillecoins.com or providentmetals.com Personally, I like dealing with a local vendor, and if you are a complete novice, a local coin dealer is your best resource on learning more about your investment.
