Economy collapsed, to have your gold, now how do you spend it?

Discussion in 'Survival & Sustenance Living Forum' started by Scratchammo, Jan 24, 2011.

  1. Scratchammo

    Scratchammo New Member

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    Economy collapsed, you have your gold, now how do you spend it?

    I'm sure the title says it all. Say you have an ounce of gold & need to use it, how? Would you barter it? Would you trade it for silver rounds?
     
    Last edited: Jan 24, 2011
  2. c3shooter

    c3shooter Administrator Staff Member

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    While (IMHO) gold may be attractive as a highly portable alternate medium of exchange, it is awkward to divide in small amounts. US silver coins (dimes, quarters, halves, and silver dollars) are a touch bulkier, but I think I could trade in silver easier than gold. You might not have an spare grand or two to put into gold, but silver dollars (non rare coin types) are about $21-$22 each.

    And while you cannot EAT gold or silver, when a neighbor has a surplus of one item, and is looking for a medium of exhange, that may be it.

    But I also invest in copper. Tubing. And while I would never violate any US laws on the illicit production of alcohol, there times you may need to distill......water. Yeah, that's it- water. Yeah.... that's the ticket- WATER.
     

  3. skullcrusher

    skullcrusher New Member

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    With an economy that has collasped, I am not sure how you barter with stuff that has monetary value. If you can find folk solvent enough and smart enough to take the shavings of gold in trade for actual perishable goods, then frequent that store often.

    Lead on the other hand could possibly get you into the White House in that scenario.
     
  4. Steve65

    Steve65 New Member

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    Good question. IMO stuff like food, ammo, guns, fuel, and other "gear" type items would be more valuable than gold. Harder to store, yes. But who is gonna wanna part with gear/stuff you need for gold? Might be hard to find those who would.
     
  5. Poink88

    Poink88 New Member

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    I wish. That price is long gone, probably 6 months ago.

    ===============================================

    OP, If you honestly believe that we will reach TEOTWAWKI then yes, silver and gold is not a good investment in that case. However, what is the most likely SHTF scenario that we will encounter in our lifetime?

    I think third world countries are living most of it right now. Civil war, martial law, coup de etat, monetary collapse, earthquake, tsunami, volcanic eruption, flood, typhoon/hurricane, drought, famine, epidemic/pandemic, etc. In all of these, food and water is the most important supply, depending on which one next maybe medicine, guns, or precious metal. JMHO.

    Believe it or not, I lived and survived all of these (except civil war & pandemic)...not once did the civilians needed guns and life goes on...harder but it goes on and you would wish you have Silver and Gold stashed away.

    In case I am not clear...you can easily sell gold and silver easily even in most SHTF scenario.
     
    Last edited: Jan 25, 2011
  6. Troy Michalik

    Troy Michalik Is it Friday yet? Supporter

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    No, this is why I already have silver.

    I don't plan on bartering any of my gear either. That's why I'm a toilet paper hoarder. Just saying, think about it. :D
     
  7. dunerunner

    dunerunner New Member

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    I plan on having enough grain, hops and dry yeast to brew 100 gallons of beer, just in case!!

    Nothing trades like alcohol, ammo, cigarettes and yes Troy; toilet paper! :D
     
  8. Steve65

    Steve65 New Member

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    Poink -- who was accepting silver/gold in those situations you lived through and was also not accepting cash? Were they hard to find?
     
  9. Poink88

    Poink88 New Member

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    In all of those, none collapsed the community/society...as I said, life went on. People are more resilient than some may think.

    Commodity prices went up and some took advantage (supply and demand) but currency is still in full effect. Silver and gold price goes up with the commodities and is a good buffer to keep your wealth's "value".

    What really surprises me is the extreme preparation that some go to. If the 3rd world country can survive it now...why can't the Americans? Yes, TEOTWAWKI can come but honestly, if it does, it is probably best if you die quickly. JMHO.
     
  10. Poink88

    Poink88 New Member

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    Name ONE country whose economy collapsed that doesn't accept gold or silver now. Their money might have lost value but their gold and silver did not. Even during war, gold and silver is probably your best bet.

    I hope more people will live and enjoy their life now (responsibly)...than wasting it planning for the apocalypse that most likely will never come (in our lifetime).

    I am into guns for the fun of it and protection (most likely from a burglar). I have no illusions of fighting off zombies, LEOs, Feds, Martians, etc.

    Nice to get/have new cool toys when I have extra cash though. :D
     
  11. c3shooter

    c3shooter Administrator Staff Member

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    Poink- shop carefully, they are out there. Just picked up 100 mercury dimes for $200, and yes, I know the seller.
     
  12. Poink88

    Poink88 New Member

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    That's the key isn't it? ;) Good deal. Almost spot on melt value.

    I am staying with with silver eagle dollars as much as possible and I think today may be the best time to buy since silver dipped these past 3 weeks. I have a local contact as well who sells eagles 10% over spot. Still good deal as far as I am concerned since he prefer cash transactions. :cool:
     
  13. oneshot

    oneshot New Member

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    I have to agree with the t.p. with that mind set I would also have to say that tampons and pad would proably be worth more than gold or silver in the long run. Think about it when the neighbors wife is screaming at him for when her time start I'll be willing to bet you could sell something like that for almost what ever you want for it. Just so he can get her to shut up.
     
  14. Scratchammo

    Scratchammo New Member

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    That's why I'd save up for some diamonds also ;)
     
  15. bkt

    bkt New Member

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    Should our dollar collapse, one of the last things I would do is part with precious metals. In fact, I would be looking to increase my supply by trading stuff I can provide to others for gold and/or silver.

    Once a new sound currency -- a commodities-backed currency -- comes around, then I might consider trading my metals for currency.

    Another angle might have me cashing in gold or silver if the prices rise so much that I can cash in a little bit of metal to pay off a lot of debt. Paying off debt is important, IMO. But that doesn't require a collapse of the current currency; just a big dip in value.
     
  16. bkt

    bkt New Member

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    Diamonds aren't usable as money.

    Money must be a medium of exchange such as when it is used to intermediate the exchange of goods and services. It thereby avoids the inefficiencies of a barter system.

    Money must be a unit of account in that it is a standard numerical unit of measurement against the market value of goods, services, and other transactions. To function as a 'unit of account', whatever is being used as money must be:
    - Divisible into smaller units without loss of value; precious metals can be coined from bars, or melted down into bars again.
    - Fungible: that is, one unit or piece must be perceived as equivalent to any other, which is why diamonds, works of art or real estate are not suitable as money.
    - A specific weight, or measure, or size to be verifiably countable.

    Money must be a store of value which means money must be able to be reliably saved, stored, and retrieved – and be predictably usable as a medium of exchange when it is retrieved. The value of the money must also remain stable over time.

    Money must be a standard of deferred payment, which is to say an accepted way to settle a debt.

    Go with metals. Gold, silver, brass, copper and lead spring to mind.
     
  17. Scratchammo

    Scratchammo New Member

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    I was referring to using them to shut her up like Ron White recommends. I do see your point however. I have a rock from the diamond mine in Arkansas but I won't be trading that anytime soon. I think for such an occasion lead might outdo the diamonds ;)
     
    Last edited: Jan 28, 2011
  18. Poink88

    Poink88 New Member

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    My problem with people who fail to see the benefit of PM (gold/silver) is they seem to only see the extreme SHTF scenario...only TEOTWAWKI or armageddon type. In this case I will agree with them. However, in most cases (where for me matters most), society will just shift and eventually recover. Here is where PM really shines.

    If we want a better discussion, I believe the particular SHTF scenario must be defined properly so we are all on the same page.
     
  19. dunerunner

    dunerunner New Member

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    I will sell you my beer for Gold, ammo, canned food, toilet paper or ammunition. You can then trade the beer for what ever you want.
     
  20. Scratchammo

    Scratchammo New Member

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    Alchohol like cigarettes are actually a good form of currency, we used cigarettes on the ship all the time. I guess if alcohol is money then moonshine would be counterfeit :D