I would have thought that the term "paper gold" for an...

I would have thought that the term "paper gold" for an instrument where no delivery takes place would be well enough understood by the brokers. Someone ringing a broker would know that they are entering a "paper" transaction and need not use the term. If they wanted physical they would go to a dealer instead.

OK. So the term "paper" is a bit silly. From now on I will use "non-physical" or "currency denominated" instead. But apart from the semantics of language - what is your point Timber? And did you try the challenge yourself? Didn't think so.