Currency/money after TSHTF

[Jayson]

If you converted an ounce of gold into dollars 100 years ago, and then HELD those dollars until TODAY, you could buy a sweatshirt from Walmart with that money.

BUT, if you held the gold instead, and then converted into dollars TODAY, you could buy an Amani suit.

Comprende???

Gold holds it value, dollars don't hold their value.

And we can ‘thank’ President Roosevelt for taking the US off the gold standard. Now the dollar bill is only backed up by the promises of the government.

 

[chihuahuasniper]

There is no doubt this event is worthy of being called shtf. Lots are saying this will be as bad or worse as the Great Depression. I don’t know how bad it will get but it certainly won’t be the same down the road. I don’t worry so much about such things though. As an individual the best you can do is control what you can each day with the issues you face as they come up. Keep prepping, and make good decisions about the important things we all face, like having clean water to drink, food to eat and a place to lay your head at night.

It could very well get worse than the Great Depression. Very few people have three to six months' income or longer saved for something like this. I bet many people on here do, though

 

[Proud Prepper]

And have you molded it into numerous tradeable coins that you could actually use in a SHTF scenario when 100% of the people in the U.S. use dollars and are going to be looking for food/consumables? How are people going to know if it's real gold? How will you know what an ounce of gold will be worth in SHTF?

That said, I do own a few silver eagles.

I have a test kit with the acids to test all grades of gold and silver, scale, loupe. They are not that expensive. Everyone that stores gold and silver should have a test kit. Both parties will need to agree upon the current value of gold and silver to be tradable.

 

[DrHenley]

I.E., a pair of wool socks will keep your toes from freezing off. No amount of gold in the world can convince me to lose 10 toes to frostbite in a SHTF scenario.

You were the one touting dollars as the safe bet, and I'm trying to explain to you that it's not, giving you cold hard facts. You can either accept reality or not, your choice.

 

[DrHenley]

In case you have forgotten, I was responding to this:

The dollar has the U.S. military behind it and will always have value, even in SHTF.

 

[Jayson]

The dollar is a valueless piece of paper propped up by the privately owned central bank, the Federal Reserve. President Andrew Jackson warned about the folly of such a financial scam 200 hundred years ago.

 

[Jayson]

It could very well get worse than the Great Depression. Very few people have three to six months' income or longer saved for something like this. I bet many people on here do, though

We don’t. We put just over $1,000 into a small safe at home. That won’t last very long if the SHTF.

 

[DrHenley]

UK Gold Coins
The Sovereign series has the same weight whether historical or modern.
5£ AGW: 1.1775oz
Sovereign AGW: 0.2355 oz
Half Sovereign AGW: 0.1176 oz
Quarter Sovereign AGW 0.059 oz
Other UK gold bullion coins have the gold content marked on the coin.
Example 100£ Gold Britannia AGW: 1.0035oz

US Gold Coins
The Eagle series has the same gold content whether historical or modern commemorative.
Double Eagle AGW: 0.9675oz
Eagle AGW: 0.4840oz
Half Eagle: AGW: 0.2420oz

Other than rare numismatic coins, other US Gold coins have even divisions of 1 troy oz marked on the coin.

South Africa Krugerrand AGW: 1.0003oz

Netherlands Ducat AGW: 0.1106oz

Chinese Panda Coins all have gold content marked in English.

Austria Gold Philharmonic coins have gold content marked in German, but intelligible to English speakers.

Canadian Gold Maple Leaf coins have gold content marked in English

Australia
Sovereigns same as UK
Other gold coins have gold content marked in English

 

[Kevin L]

Interesting read for sure! But the problem still remains -- are you going to be walking around in SHTF with a cylinder and digital scale trying to convince stressed out/desperate people to trade with you for something they don't immediately need? Although I'd rather do that than try to use Bitcoin in SHTF, it doesn't seem practical. In a short-term disaster, one to five years, firearms/bullets, food, batteries, socks, and medicine are king.

I.E., a pair of wool socks will keep your toes from freezing off. No amount of gold in the world can convince me to lose 10 toes to frostbite in a SHTF scenario.

Agree 100%.

All I'm pointing out is the ways that gold and silver have helped survivors in past SHTF conditions.

I set aside several silver coins (Canadian Maple Leafs, which are my favorive gold and silver coins) about eighteen months ago.

If I sold them now, I would turn a substantial profit over what I paid for them.

 

[chihuahuasniper]

Agree 100%.

All I'm pointing out is the ways that gold and silver have helped survivors in past SHTF conditions.

I set aside several silver coins (Canadian Maple Leafs, which are my favorive gold and silver coins) about eighteen months ago.

If I sold them now, I would turn a substantial profit over what I paid for them.

Hold them

 

[Frozen Tundra]

I have a test kit with the acids to test all grades of gold and silver, scale, loupe. They are not that expensive. Everyone that stores gold and silver should have a test kit. Both parties will need to agree upon the current value of gold and silver to be tradable.

This is a great point that I hadn't considered... I dont know anything about testing grades ect. I need to do some research!

 

[tmttactical]

Here is the definitive answer. If there is a market for precious metal, then it has value. If there is NO market, precious metal has base metal value. Cave man did not give a rat's azz about gold or silver. Sharp fire hardened stick was top of the trading list. If there is a demand there is value. Once the end of the world folks repopulate and start to banding together, then precious metal will once again move to the top of the value chain. The world around us maybe changing and morphing into something different but this is not an end of the world event. Governments still exist and taxes still get collected. With that statement in mind, precious metals (in hand) is a good thing. If we devolve into a WROL world, then lead is going to be much more valuable and precious metal will be be at the bottom of the list.

 

[GaRp58]

Rather have my $700 Knife in SHTF than your $700 gold coins. One of them is a definite value, the other has been discussed into a maybe value. Guess which one is the definite??? GP

 

[BillMasen]

You’re a bad person, and probably very messy!

But great fun at a party

 

[BillMasen]

I would say that we are in a TEOTWAWKI event right now. The world as we knew it three months ago has changed dramatically. And will change even more before this is over. That world is gone, probably never to return.

The excrement has certainly hit the fan.

But we are not in a WROL situation yet.

COMMENT OF THE YEAR SO FAR.

 

[Brent S]

Rather have my $700 Knife in SHTF than your $700 gold coins. One of them is a definite value, the other has been discussed into a maybe value. Guess which one is the definite??? GP

You have a $700 knife?!!

 

[DrHenley]

Rather have my $700 Knife in SHTF than your $700 gold coins. One of them is a definite value, the other has been discussed into a maybe value. Guess which one is the definite??? GP

Rather have my $60 knife in SHTF and $640 in gold coins than your $700 knife!

 

[BillMasen]

Rather have my $60 knife in SHTF and $640 in gold coins than your $700 knife!

Me too, but say a $100 blade, I would be terrified of losing the $700 blade.

 

[DrHenley]

Me too, but say a $100 blade, I would be terrified of losing the $700 blade.

I had in mind my USMC Ka-Bar, which was $60 back when I bought it. They are more expensive now.

 

[BillMasen]

I had in mind my USMC Ka-Bar, which was $60 back when I bought it. They are more expensive now.

I still of the superb AK 47 Bayonet and sheath I obtained some years ago, one of the few quality things Soviet Russia ever made.