What about the metal value though? I figure if the SHTF, regular people could place a value on the metal content and trade with coins (since not everyone will be holding PMs). If bank accounts are zero'ed out, then it's paper currency vs coins vs toasters for the average person. I think our current coins at least have a good amount of copper and nickel to make this a possibility, unlike coins from other countries. But then again, could the average person take such ideas onboard :/
there's an emergency and u need funds urgently but u can't get to an atm or a bank? Credit card / debit card or equivalent / Direct transfer / online facilities, technology is already here. thats assuming that those facilities are available everywhere u go (rural areas, private transactions at someones house etc..) there is a glitch in the bank's comuter system and your funds are basically frozen until the problem is fixed? IOU? How is this any different from losing your wallet? Have a second account with a different bank, eggs/basket?!? when u lose you wallet u dont necessarily lose all your cash unless your an idiot and carry all your cash around with you all the time what if i dont want a second bank account and have to pay more bank fees? u prefer to actually hold cash in your hand rather than trusting the bank to get their grubby little hands on it? (similar to why ss members prefer to hold physical silver) That cash you are holding in your hands...it's not cash really, it is an IOU from a bank. The bank already has its grubby little hands all over it. Silver is not an IOU from a bank, that's the reason we stackers like it so much! i know what money is and how the system works so your not schooling me on anything. my statement comes from me not trusting the greediest people in the world. at least i still have some sort of control if im holding some cash trusting your entire wealth for someone else to hold is just asking for disaster. talk about holding all your eggs in one basket! You are already trusting your entire wealth for someone else to hold...the Government! All the government has to do is devalue the currency like it did this week in Belarus and suddenly your savings have been cut in half. as above, at least i'll still have what little control i have. We are not talking about a store of wealth here, we are talking about a medium of exchange, a way for people to value goods and services comparatively, e.g. by a dollar amount. medium of exchange- exactly. but having multiple mediums gives u more options and better liquidity. its all about freedom. what little freedom we already have will be VASTLY limited even further theres still also privacy, security and other issues too
Good call 20c have the same metal ratio to face value and are a far more pleasing size, 5 cent pieces are just a pain in the arse to handle and not that relevent - hence the vast number you see on the ground that no one can be bothered picking up (or maybe they don't want to be labelled the poor bugger that valued 5 cents worth some effort I don't know - coin snobbery?) + you may pick up one of the numismatics - to my knowlege none of the 5c coins are terribly valuable numismatically.
**Kiwi here** they have already taken our 5c coins. They will take yours and you will end up with smaller versions of the 10, 20 and 50c too. What better time to change the composition - go back to silver coinage. The 5c is on the way out because it is soon going to cost more to mint than the coin is worth. If Australia made a stand to say back a new set of coins with silver content. Even if the coins were backed by 10% of face value with silver content. This is a type of fractional reserve banking I could believe in
If the price of silver is going to rise substantially then wouldn't it be a silly idea to have silver currency? The metal value would soon be more than face value making it uneconOmic for the goverment to produce?
i seriously believe that the globalists will NOT allow the mindless masses to get their grubby undeserving hands on anything like precious metals - more than likely an electronic credit unit (which is worth even less than paper/polymer rubbish we have in use and are silly enough to accept) - make no mistake for the deep disdain they have for the common man ...
Still relateed to this topic of scraping 5 c means whenyou buy things now there will rounding of to enarest 10c now. Reminded me of a movie i saw while back forgotthe name where a bunch of 3 guys working for a big company created a program so that whn the company spent money on emloyees wages, stationary etc each time they did that 1-3 cents would be not be picked up and it stayed in company's account for exaple they payed "John" $100.27 the $0.02 would be left. So their program scammed each time company spent money to another account they made in one of the finacial safehaven countries. They made tones of money really quickly. Great movie, a shame i forgot the title
I swapped a few hundy for some bags of 20c coins at the bank the other day. For a rainy day. When metalmoney.net was running, i think a 20c coin contained 15c of metal?
Office Space? Did they beat the crap out of a printer and did the main actor get hypnotized? If so I agree great movie
agreed. so if cash is gone, and PMs outlawed, what have the people got left? a digital number that can be deleted if the citizen is deemed a threat. the people need to determine what is money, rather than the government. but gresham's law for now and all. the goal is to get self sufficient on your own landholding. i think it will be the only way to achieve/keep any sort of quality of life going forward. but i'm probably decades early on this call.
Hmmm... Ok let's assume the 5c is history. The 10c piece would be 10% backed with silver. That means it would have 1c worth of silver in it. Current an ounce is worth 3606 cents. That means that it would be .0277 % silver (1/50th of 1%) You could fully back a 10c piece with silver with only .277% silver content (1/5 of 1%) That doesn't seem unachievable does it? I wonder how many 10c pieces are in circulation.... I sense some more maths to come.
Information... cash carries little or no information about you. Cashless (bank card/credit card etc..) carries heaps of information about you. This is a neither a good thing or a bad thing, but it is a POWERFUL! thing.
Precisely To back 10% would take such a tiny amount of silver. Rather than worry about how inflation would decrease the $ value below the silver content value you would have a realistic time frame to convert to a real money standard. How much silver in a $2 coin? How much would you need in a $20 note or would the plastic become worthless? replaced by a coin with a % based gold content?
20s and 50s I'm stacking, and only the varieties and commemoratives. In the 5 cent series the only thing worth keeping is the 1972 and maybe some of the "Big SD", "Little SD" varieties but you have to look hard for those. Nothing would be lost numismatically if the whole lot of them got melted down. Keeping them for the metal content would only really be good if anyone wanted cupro nickel, it's not like you can separate out the copper and nickel and that particular alloy doesn't have many uses outside of coinage. I am pretty sure the government won't encourage you to melt them down. I don't think that many people understand the intrinsic value of gold and silver so trying to get them to understand the value of copper or nickel in a SHTF scenario may not be the best use of your time. Back to bartering.
