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That is still $150+ worth of gold.
I need to trade for a nice sharp saw blade.
So I need 1/60 of an ounce. ( 1/2 gram for those on metric)
How big is a 1/60 ounce coin?
Not very big, but there have been smaller as well as coins of lower fineness, as low as 5 to 7kt. to increase the size, e.g., the Indian fanam. There are 1 gram bars as well. The tiniest gold coins are numismatic. The bullion coins of ⅟₂₀ oz. and 1 gram bars have large premiums. Premiums drop as size increases. I've seen gold foil as well as very thin sheets, but few people know what they are.
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I have some silver quarters. Easily recognizable by traders, post SHTF,
and worth about 10x face value in trade.
I need about 10 of them, for the saw blade.
How many people under fifty would recognize them as silver?
Gold would certainly be a preferred barter item, but, as you point out, small amounts are impractical. Studies of barter societies have shown that an elaborate system of credits is always necessary. A recognized, or even unrecognized currency is always preferable to people. Saddam Hussein replaced the Iraqi currency, devaluing the old in the process. He did not, however, furnish the new currency to the Kurds. The expected effect was ameliorated because the Kurds continued to use the devalued currency although its exchange rate plummeted. A truly bizarre example of an emergency currency is recorded in the former colony of British Honduras where empty bottles became items of currency. If the dollar collapsed here it would still circulate but be pegged to gold at varying discounts. People would sell gold and silver to money-changers who would both buy and sell as well as issue credits. Never forget that credit is older than currency.
During The War Between the States both Confederate and Union banknotes traded for far less than coins of gold or silver.
I am not overly worried about stocking any more gold and silver than I already have. I began collecting silver when silver coins were still in circulation. As long as we can maintain some measure of control over those in power, I am not going to panic. We will still have some basic laws. However, laws are created by those in power. Our prosperity is held hostage to those laws. When the law becomes a suggestion, they are no longer a stabilizing force. I have seen too many instances where the ability to temporarily annul a law has been given to disruptive people. Those in power seem to be too willing to flutter their hands and claim that they are helpless.
Some policies seem to be based wholly on wistful thinking and each policy failure becomes a reason for a grand new federal program. Each grand new federal program removes a bit more of my ability to act independently.
I feel most secure when I don't rely on any governmental body (local, state or federal). When one of these politicians states that they are doing something for 'the people as a whole', I cringe. I consider myself a unique individual, not part of a herd.
I will continue to stay as informed as I can, pray, vote. . . and make sure I have enough ammo and arrows to go hunting if I need to!!!
That is still $150+ worth of gold.
I need to trade for a nice sharp saw blade.
So I need 1/60 of an ounce. ( 1/2 gram for those on metric)
How big is a 1/60 ounce coin?
I have some silver quarters. Easily recognizable by traders, post SHTF,
and worth about 10x face value in trade.
I need about 10 of them, for the saw blade.
Silver is for trading, gold is for wealth preservation/transfer. Storing and hauling $10k (or whatever) worth of silver is impracticable. People have smuggled their wealth sewing gold coins into their clothes for thousands of years. Not as practical with silver. The Romans used to "make change" if the coin was worth more than the goods or service by cutting them in half even though at times it was technically illegal. Frankly, I don't see bartering with gold or silver as being practical in any modern situation, I think gold/silver are both just wealth transfer / hyper-inflation protection vehicles. But if I'm wrong then I'm still covered because I don't have all my eggs in one basket. Which is an interesting segue, because recently in Venezuela a dozen eggs have traded for $150 USD. The thing about precious metals is that you can't eat them. Most of my wealth is stored in the land, equipment, animals, and processes we use to produce food. Food always has value.
... Frankly, I don't see bartering with gold or silver as being practical in any modern situation, I think gold/silver are both just wealth transfer / hyper-inflation protection vehicles. But if I'm wrong then I'm still covered because I don't have all my eggs in one basket. Which is an interesting segue, because recently in Venezuela a dozen eggs have traded for $150 USD. ...
If there is a TEOTWAWKI event, there will be a window of opportunity to trade with silver in the first few weeks. Look for signs that say "No Fiat Money" or some other statement about barter and "Real Money"
After that, when things get really scarce, I wouldn't make any mention at all of having any silver or gold. One person I know that went through a war said 'the only think gold would get you is killed.'
After things settle down, and regional populations drop to sustainable levels ( less than 100 psm, in most of the country ) then silver will once again gain popularity as a trading currency, along with ammo and a variety of other trade-ables. How long that will take and what silver will be worth are unknown.
"During The War Between the States both Confederate and Union banknotes traded for far less than coins of gold or silver."
From the civil war until 1971 the US concurrently used two types of paper currency, one was backed by gold or silver and one was not. Technically, the US Notes are still legal tender but it would be very rare to come across one.
They have an interesting history but prove the US could print "money" without borrowing if it wanted to.
Silver is for trading, gold is for wealth preservation/transfer. Storing and hauling $10k (or whatever) worth of silver is impracticable. People have smuggled their wealth sewing gold coins into their clothes for thousands of years. Not as practical with silver. The Romans used to "make change" if the coin was worth more than the goods or service by cutting them in half even though at times it was technically illegal. Frankly, I don't see bartering with gold or silver as being practical in any modern situation, I think gold/silver are both just wealth transfer / hyper-inflation protection vehicles. But if I'm wrong then I'm still covered because I don't have all my eggs in one basket. Which is an interesting segue, because recently in Venezuela a dozen eggs have traded for $150 USD. The thing about precious metals is that you can't eat them. Most of my wealth is stored in the land, equipment, animals, and processes we use to produce food. Food always has value.
So she buys them from street vendors for around 1,500 bolivars -- a staggering $150 at the official exchange rate, or about $1.50 at the black market rate.
I can't eat bullets (more than once) I can't shoot Gold, I can't cut a tree down with a taco... But PM's have been valuable since literally before mankind knew how to write!
So she buys them from street vendors for around 1,500 bolivars -- a staggering $150 at the official exchange rate, or about $1.50 at the black market rate.
Translation to common english:
1500 bolivars, if you buy them at the official exchange rate, at a government controlled exchange, when entering Venezuela, is $150.
If you try to exchange them back when leaving, they will tell you that you can't make the exchange, since they have currency controls in place, or they just don't have the currency on hand. (You might not be able to get your self out of Venezuela, but that is another topic.) https://money.cnn.com/2018/01/17/new...sis/index.html
If you go to the black market, 1500 bolivars might get you $1.50, or a dozen eggs. (I am not sure, but that might be optimistic.)So, the $150 US dollars you entered the country with, might get you a dozen eggs.
(Again, I think that is optimistic.)
That is still $150+ worth of gold.
I need to trade for a nice sharp saw blade.
So I need 1/60 of an ounce. ( 1/2 gram for those on metric)
How big is a 1/60 ounce coin?
I have some silver quarters. Easily recognizable by traders, post SHTF,
and worth about 10x face value in trade.
I need about 10 of them, for the saw blade.
90% silver dimes, quarters, and halves up until 1964. I have thousands of silver quarters from 1964 that I inherited from my relatives.
90% silver dimes, quarters, and halves up until 1964. I have thousands of silver quarters from 1964 that I inherited from my relatives.
That is good.
I won't say how many I have, but I will say that "thousands" is probably not the term I would use.
But I have enough for my purposes.
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