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Discussion Starter · #1 ·
What exactly are you going to do with a bunch of gold and silver post-SHTF?

Say I have something you want. You offer me a silver coin? Half a coin? Six and a half coins? How do I know it's real silver or even 50% silver?

Do we all have to get scales and chemical analysis kits?

How do PMs actually work on a day-to-day basis when fiat currency is worthless?
 

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Live Secret, Live Happy
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I believe you are going to want junk silver coins in various sizes to allow folks to make change. Large silver eagle and gold coins are just too big for normal day to day purchases.
 

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Proverbs 26:4
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What exactly are you going to do with a bunch of gold and silver post-SHTF?

Say I have something you want. You offer me a silver coin? Half a coin? Six and a half coins? How do I know it's real silver or even 50% silver?

Do we all have to get scales and chemical analysis kits?

How do PMs actually work on a day-to-day basis when fiat currency is worthless?
I agree, most people aren't going to want gold/silver or know what it's value is. It might be good to have some for the few that will have knowledge of it's value but overall I don't think it's goingto help much.
 

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Dios y Tejas
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There will always be some form of currency.... it may be worth 1/20 of todays "value"... most regular folks wont know what to do with PMs...

I think the best way would be to cash in small amounts whenever you need accepted currency for purchase.. It may take $100 to buy a loaf of bread, but 1 ounce of gold may be redeemed for $20,000... now these are extreme examples but I think that's the way it would work

in germany in the 30's, you could buy a loaf of bread with their devalued Marks, but it would take a ton of them cause the Marks were worthless..

PMs to not really appreciate on my opinion, the currency depreciates in relation to PMs... that's how I see it anyway
 

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Hooligan on Holiday
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What exactly are you going to do with a bunch of gold and silver post-SHTF?

Say I have something you want. You offer me a silver coin? Half a coin? Six and a half coins? How do I know it's real silver or even 50% silver?

Do we all have to get scales and chemical analysis kits?

How do PMs actually work on a day-to-day basis when fiat currency is worthless?
This is a good question and I too have often wondered who would set the market for trade. One may have pounds of gold but will it really be worth much if your family is hungry? That gold will not digest very well.
A market of sorts would have to be established, if I had chickens and eggs that commodity would be IMO worth more than a pound of gold.

Real precious metals will be brass and lead PSHTF
 

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Discussion Starter · #6 ·
I believe you are going to want junk silver coins in various sizes to allow folks to make change. Large silver eagle and gold coins are just too big for normal day to day purchases.
So do we all have scales?
How do I know you're giving me real silver or gold?

This is how I see it happening...

<the scene: some post apocalyptic landscape>

"I'll give you two of these silver coins for your ammo, but I need some change."
<blank stare>
"I can't eat silver coins. Change? WTF are you talking about?"
 

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Standing Vigilant
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Discussion Starter · #9 ·
I would encourage you all to go to our new Financial Forum
that deals with PM's....gold and silver and the like.

In fact, this has been discussed at length here:
http://www.survivalistboards.com/showthread.php?t=88974&highlight=Gold+silver+post+shtf

Another good one: http://www.survivalistboards.com/showthread.php?t=98279&highlight=Gold+silver+post+shtf


Hope this helps.:thumb:

Doginit
I read those, but they seem to be discussing more about the merits of PMs and whether they're a good idea or not.

I'm more curious about how they would actually work. Meaning, exactly what would a transaction involving PMs look like? Again, do we all have scales? How do we test for quality or fakes? How do we make change? etc.


Mods, feel free to move this thread, but I put here because it's not really a financial question as a SHTF scenario question.
 

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I'm more curious about how they would actually work. Meaning, exactly what would a transaction involving PMs look like? Again, do we all have scales? How do we test for quality or fakes? How do we make change? etc.
Well, I'm by no means any expert, but I recently purchased a small amount of silver.

If we went back to the barter system I don't think change would be involved, so any trading would probably revolve around half-ounce or ounce amounts. That's what most coins are easily bought as.

And assuming I had a barrel of apples or something like that, and you had a silver coin, I would know whether or not its good silver depending on what kind of coin it is. A Canadian Maple Leaf, a Silver Eagle, coins like that I know are silver.
 

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If the Greeks and Egyptians were able to figure it out 5000 years ago I am sure we will make due. Gold will always be a means of trading goods and services. Always has been, Always will be. When the financial armageddon takes place will there be someone who runs around and takes all the postage scales and bathroom scales and lets not forget about everyone in the country that use (legal of course) MARIJUANA. I bet most crack heads and most Greatfull Dead fans have pocket scales on them right now....

Dead heads are funny:thumb:
 

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Super Moderator and Walking Methane Refinery
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I agree, most people aren't going to want gold/silver or know what it's value is. It might be good to have some for the few that will have knowledge of it's value but overall I don't think it's goingto help much.
Those are they people I'm going to be counting on. Since they can't eat metals, they trade them to me for food (or whatever). I don't plan on "spending" them during the crisis when few will want them. As society forms again and begins to rebuild, metals will become of value again.

So do we all have scales?
How do I know you're giving me real silver or gold?
You pick types of metals that are highly recognizable such as junk silver coins or gold coins such as Eagles, Krugerrands, Pandas and Maple Leaves. And yes, a lot of us who are into metals have ways to check specific gravity, etc. There's nothing complicated or expensive about that.

Metals are not for prepping in the place of things like food. They're what you get after you have everything else you need in place. They're a way to preserve wealth. For example, if the dollar crashes, those who have only dollars will lose it all. Those who have metals will transition into the new currency without loss, or possibly even with some profit.

They'll come in especially handy during the rebuilding phase. That's when people will have the basics of life covered, and "money" will be a medium of trade again. That's one of the major reasons that I have metals and plan to barter for them also.
 

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Standing Vigilant
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I gotcha pudding7. I remember a discussion on this at one time.
Course, couldn't find it now if I tried.

In a nutshell, yes...scales are a must. Now, I am
by no means an expert on this subject...but I felt
the need for being able to weigh bullion, junk etc...
could be a reality sometime in our future. So, I
purchased a $30.00 scale that weighs in TROY ounces.

Soon, I intend to also weigh,
individually, a junk dime, a junk quarter, a junk $.50 piece,
and Silver Eagles...keep those individual weights
in my tally book for later reference. Pretty sure that could,
and most probably will come in handy later.
I assume we'll all become experts at it before long.

Doginit
 

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4 Fried Chickens & A Coke
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Would work as a bartering/trade system

I'll give you an oz of silver, you give me a flashlight or whatever

PMs have never been worth zero, and historically always been a safe heaven for economic instability
 

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Super Moderator and Walking Methane Refinery
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I'm more curious about how they would actually work. Meaning, exactly what would a transaction involving PMs look like? Again, do we all have scales? How do we test for quality or fakes? How do we make change? etc.
$1 face value of any junk silver coins is about .7 ounce of silver. So figure approximately $1.40 or so per ounce. I can give you a rough idea what a transaction would be like.

"What would you take for that pack of seeds?"
"Half ounce silver buillion or 70 cents junk silver"
"I only have a one ounce bar"
"No problem, here's your change" Hands customer 70 cents in silver dimes and quarters.
 

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Improvise Adapt Overcome!
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Buy differing sizes. For example, I have a gold dime, or 1/10 an ounce Gold eagle. It's worth about $110.00 last I looked. So if I need less than $110.00 worth of stuff, I'd take some silver in change.

You can also get smaller coins, and various other precious metals like silver too. It makes transactions more liquid that way. Save the big Gold eagles for when you need to make $1000.00+ purchases.

As for scales, you can buy various scales that standard Gold coins fit into. If the size and weight is right, the coin is good. You can also compare to a known good coin and see if it's dimensions are right, and the weight is the same using a normal scale.
 

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This is a good question and I too have often wondered who would set the market for trade. One may have pounds of gold but will it really be worth much if your family is hungry? That gold will not digest very well.
A market of sorts would have to be established, if I had chickens and eggs that commodity would be IMO worth more than a pound of gold.

Real precious metals will be brass and lead PSHTF
The market will set the market price for trade. If, in a PAW, you have a chicken and I want it, and I have a bunch of junk silver coins and you want THEM, then we will bargain back and forth until we establish how many coins you will accept for the chicken, and that will be the market price. If you don't want my coins but DO want something else that someone else has, I'll go see if THAT person wants my coins, negotiate with them, and if I can make the exchange with them, then come back to you with my new possession and try to trade with you. It's the kind of give and take, bartering situation you find in third world countries and some garage sales...

I read those, but they seem to be discussing more about the merits of PMs and whether they're a good idea or not.

I'm more curious about how they would actually work. Meaning, exactly what would a transaction involving PMs look like? Again, do we all have scales? How do we test for quality or fakes? How do we make change? etc.
My precious metals consist of junk silver, and gold and silver coins issued by the U.S. government. As such they are extremely difficult to counterfeit or alter significantly in terms of weight or purity. So scales wouldn't be needed, at least when dealing with me. For those using jewelry, or gold or silver bars of uncertain integrity, or precious metal dust, THEN scales and assay materials may be necessary. As for the transactions themselves, consider movies showing scenes from the Old West, or ancient history. Dickering, each side establishing they have the materials for the exchange, the exchange, then everyone walking away satisfied. Hopefully. And one side not suddenly revealing themselves to be crooks and trying to rob or murder the other.

As for those disparaging the idea of precious metals, keep in mind that currency evolved because bartering can become cumbersome. If you've got a massive number of bullets but I don't want any, and I've got something you want / need, you'll have to find out what I DO want, then find someone who has it, and make a trade with them. And if THAT person also doesn't want bullets but wants something else, then you'll have to go find a FOURTH person to trade with, and on, and on. Having a medium of exchange that everyone wants solves that problem. And in a post apocalyptic world, if greenbacks are no longer accepted, precious metals - which centuries of cultural programming have established in people's minds as being desireable and valueable - may well step in to fill the void.
 

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in germany in the 30's, you could buy a loaf of bread with their devalued Marks, but it would take a ton of them cause the Marks were worthless..



Remember the story of the guy with a wheelbarrow full of Marks-someone dumped the Marks out and stole his wheelbarrow!
 

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I do see more barter & trade up front....when faith is lost in the "govt to help me now" so at that period of time one could get more PM for items in demand, than later after things begin to stabilize.

But no matter what one will need a variety of sizes of goods and PMs to be prepared.
I will have some small seed packets to trade with but will have larger packages for my own use.
 
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