The phrase “store of value” is technically incorrect from a strict Austrian economics perspective.
The chief contributor of HIGMW.com, John, will often refer to assets as a good “store of value” to mean an asset that has historically and consistently been subjectively valued in exchange over very long periods of time.
For example, it is quite common to refer to money (or gold, or financial assets) as a “store of value.” But an attitude cannot be stored! You cannot pour some of your attitude towards goods into a bar of gold, put it in a vault, and hope it “keeps.” You can, of course, store the gold bar. And you will certainly hope that when you decide to take it from the vault and sell it, that others will choose to value it as well. But only the gold was stored. – Carl Menger
Knowing full well the term “store of value” is not technically correct, John uses the technically erroneous term “store of value” because he doesn’t want to write out the technically correct sentence each time. Consider the difference between the correct phrase and the easier, but technically incorrect phrase.
Correct: Gold has been subjectively valued by individuals actors across cultures and time. Therefore, to the extent the past can teach us about the future, gold will continue to be subjectively valued by individuals actors across cultures and time.
Easier: Gold is a good store of value.