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The only gold worth having in SHTF is real actual gold in hand. The paper gold ownership certificate would be great as a fire starter. I have a few liver coins and a bit of gold. You can use jewelry, earrings rings etc. you don’t need gold bullion.
Bullion is nice because you know exactly how much it is. Ounce. Half ounce etc.
I guess you could weigh the jewelry etc.
Its just nice to have hundreds of silver 1 ounce coins
I look back at the fall of Richmond in April 1865. The only thing that had value was food and liquor. If the dollar collapses, unless you have gold bullion, how are you going to access it if there is a societal collapse? And gold coins are not easy to carry around. Stick to beans, pork and whiskey.
Gold is hard to spend. In Medieval times, travelers would carry gold chains with small links, but even a 1 gram link would be worth over $70 at current prices. Plus, nobody really wants the stuff. You can't walk into a grocery store and try to pay with a couple grams of gold.
Gold was not a bad investment for those who bought when it was $1300/toz, maybe not so great at $2000/toz. The dollar has only lost 10% in the last 5 months.
As you say, the best bet is to stick with things that are useful, though I would look around for items that would get rare or expensive, like primers, lead, and powder. You can pay kids to go pick up brass, or people can bring their own, but a selection of sizing dies would be good. People can recycle brass, but they can't recycle primers. Maybe a hand tumbler for the brass if electricity gets chancy. Canning lids will probably get rare. Stick with consumables that are hard to make by hand.
Money will continue to change hands because of the convenience, but barter will become a much larger part of the economy. Lots of small, cheap items are more useful in a barter economy than a few expensive items.
I do not own gold but I have been hearing it is good to have in case of the collapse of the dollar. I am confused why gold is a better investment. I would imagine that if one invests in gold, you don’t get gold in your hands you may get a statement. But if the economy collapses and we have a SHTF situation, what good is that paper statement? Am I wrong to think this way?
If you focus on preparing for the extremely unlikely worst-case scenario, you may find that you are accumulating assets which will not serve you well if instead we face the much higher probability scenario of a slow decline of the dollar without total societal collapse.
Good luck. You might lose your life over it. In fact I guarantee it.
The best thing to stick with is tangible useful things. Food, fruit, meat, ammo, toothpaste tooth buyes, alcohol, disinfect, medical supplies, guns, fuel, light bulbs, generators, clothes shoes. If SHTF goes on long enough ALL those things will be worth more than gold.
As far as morality here is my take. We can sit here comfortably set in a house with running water, electricity sewer system fridge full of food. Push comes to shove I have absolutely no illusion that people will turn into rabid animals to take care of themselves and or their families.
That's good advice, and after reading that, I just picked up 20 rounds. Will probably get another 20 or so next month, and perhaps moving forward keep trying to increase my holdings each month.
Why would anyone want to pay a 10% premium for a privately minted coin?
Why would anyone want to pay a 10% premium for a privately minted coin?
Handling costs. If it has $28 worth of silver in it, why would anybody want to sell it to you for $28? Somebody has to pay for manufacturing, shipping and handling. That somebody is you.
View these assets in a light of the state of civilization. Paper gold will tend to be functional in money printing. Loss of confidence in the political system puts psychical gold on the table. If the state of affairs falls further then gold is not as good for minor transactions, hence silver. If its just survival then naturally there is no financial system at all.
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