The Daily Web Log for Prepared Individuals Living in Uncertain Times.
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4 Comments
re: Gold for Silver
I always thought silver coins would be easier to deal with than gold in a SHTF situation. Hard to make change when buying a tomato or a dozen eggs with an ounce of gold. The traditional denominations (dimes, quarters, 50 cent pieces, morgan dollars) in pre-1964 coins might be recognized by most people, even if paper money became worthless.
“hard to make change when a tomato or a dozen eggs with an ounce of gold.”
if things deteriorate to the point of using gold to buy anything then a dozen eggs will cost an ounce of gold, with no change.
My belief is that in a SHTF situation the value on the coin, silver or gold, will not matter that much as we will quickly revert to the barter system for the majority of things with any value. The value of an oz. or 1/2 oz. of silver or gold will end up being driven by the necessity and abundance of the item in question and the sellers/traders need for the silver or gold.
Either way it will be an unpleasant time.
Even in a barter system you’ll need a medium of exchange. In a pure barter system it becomes very difficult to match up trades and that why it is difficult to maintain such a system. Silver and gold has its place and 90% silver coin is highly recognized and difficult/expensive to counterfeit in dime, quarter and half dollar denominations. It won’t be the only medium if exchange but it should be commonly accepted.
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re: Gold for Silver
I always thought silver coins would be easier to deal with than gold in a SHTF situation. Hard to make change when buying a tomato or a dozen eggs with an ounce of gold. The traditional denominations (dimes, quarters, 50 cent pieces, morgan dollars) in pre-1964 coins might be recognized by most people, even if paper money became worthless.
“hard to make change when a tomato or a dozen eggs with an ounce of gold.”
if things deteriorate to the point of using gold to buy anything then a dozen eggs will cost an ounce of gold, with no change.
My belief is that in a SHTF situation the value on the coin, silver or gold, will not matter that much as we will quickly revert to the barter system for the majority of things with any value. The value of an oz. or 1/2 oz. of silver or gold will end up being driven by the necessity and abundance of the item in question and the sellers/traders need for the silver or gold.
Either way it will be an unpleasant time.
Even in a barter system you’ll need a medium of exchange. In a pure barter system it becomes very difficult to match up trades and that why it is difficult to maintain such a system. Silver and gold has its place and 90% silver coin is highly recognized and difficult/expensive to counterfeit in dime, quarter and half dollar denominations. It won’t be the only medium if exchange but it should be commonly accepted.