How do you plan to market your gold?

[Rincon]

If there are no coin dealers open for business, or if the Fed finds a way to block transactions in precious metals, how will you market your gold and silver when you need to buy something? Stores won't take it, banks won't take it. You might end up spending your silver coins for face value. One gold coin might be worth $2K. How will you buy groceries with that even if the store would take the coin?

[Jason]

If there are no coin dealers open for business, or if the Fed finds a way to block transactions in precious metals, how will you market your gold and silver when you need to buy something? Stores won't take it, banks won't take it. You might end up spending your silver coins for face value. One gold coin might be worth $2K. How will you buy groceries with that even if the store would take the coin?

Or in the event that the government collapses....what's face value? If face value is meaningless how do you test for the quality of the material (with all requisite equipment...leaving the old bite method?)......in a period in which the government has collapsed?

[NamasteMama]

In the old days one would simply bite the coin to test it. I think that people are missing a key point and think that gold coins will make them rich. In reality they will only preserve their wealth. Historicaly the gold and silver have always been worth the same. It has long been said that an ounce of gold will buy a custom tailored man's suit. In the 1930s, an ounce of gold cost $35, and a suit was nearly the same price. When you look at gold prices today, gold trades for $1150 and a custom suit does as well. Even thousands of years ago, the best clothing cost one ounce of gold, or 15 ounces of silver. So all you are doing is insuring that your money dose not become what the value of fiat money or paper has, which is nothing, toilet paper, or good for burning as the people in the Weimar Republic found.

[Original_Intent]

I reckon I'll open a street paving business....

[buffalo_girl]

That is certainly an issue of concern.

If you use your metal coins to 'buy' labor, materials to build, or food word is out that you have gold and silver in which case your life is endangered. It doesn't do you any good buried in the ground or thrown into a well.

I'm thinking, if you have enough disposable income to buy metal it might be best to invest in food commodities and an optimum means of storing it to insure longevity. Someone on this forum noted awhile back that the oxygen packets put in the #10 cans we pack our grains in reduces or destroys seed viability. I've tested some of my older wheat for germination - the wheat packed with the oxygen packets - and they DO NOT germinate.

I think we need to insure we have viable seed for a wide range of essential grains, legumes, vegetables, vine fruit, etc. Lentils serve as a complete protein source. They aren't the most desirable food on earth, but with some Middle Eastern or East Indian spices, dried squash or yams, they are highly nutritious in very small quantities.

I've been drying my garden string beans, carrots, potatoes, zucchini, winter squash, even tomatoes. I store the freezer bags in the freezer until they are to be used. Dried vegetables & fruits take up much less space, preserve nutrients, and are more easily carried or moved. Certainly easier to move than buckets of silver and bags of gold.

Turn your gold into magic beans!

[Jason]

In the old days one would simply bite the coin to test it. I think that people are missing a key point and think that gold coins will make them rich. In reality they will only preserve their wealth. Historicaly the gold and silver have always been worth the same. It has long been said that an ounce of gold will buy a custom tailored man's suit. In the 1930s, an ounce of gold cost $35, and a suit was nearly the same price. When you look at gold prices today, gold trades for $1150 and a custom suit does as well. Even thousands of years ago, the best clothing cost one ounce of gold, or 15 ounces of silver. So all you are doing is insuring that your money dose not become what the value of fiat money or paper has, which is nothing, toilet paper, or good for burning as the people in the Weimar Republic found.

Can get a custom tailored knock off out of Thailand for $200! That's fitted, hand delivered, etc.

[Carlos]

In the best case scenario I hope to consecrate my stash of coins to the leaders of the NJ. They can decide what to do with them!

[JerL]

In the book Patriots: surviving the coming collapse the author does a chapter on a period of time after the collapse that a barter faire was able to be set up. Things were trading for 90% silver coin, or ammunition (typically .22 cal), or straight barter. The free market set the price of items. If items were in high demand and few in number the price was higher. If something was priced too high, dickering brought the price in line. Gold and silver won't need to be exchanged for "money". Don't go on the assumption that paper currency will be worth anything. I don't believe that most stores will be in any condition to operate anyway. It is wise to have food stored and seeds stored, but it is also wise to have some gold or silver to trade also. It may be that besides the silver, you won't have anything of interest to another party, or could be that you can't spare your seeds or food.

[AngelPalmoni]

I told the Jones next door that soon I'll be trading a Loaf of Bread for his nice new BMW...

Gold and Silver = trading for goods...