Best Silver for Australian Currency Collapse?

A

Agnostic

Active Member
Silver Stacker
[Apologies in advance if this has been asked before]

We stack for a range of reasons, and one reason for me is to have some tradable money in the event of a total currency collapse.

The scenario I am talking about is if there is a total loss of confidence in the Australian dollar, perhaps due to hyperinflation; and the wheels of commerce start grinding to a halt. I want to have money so that I can buy everyday supplies. Yes I know it is good to have stockpiles of food and water on hand, I am not discussing that here.

Which silver would be the best to stack for that possibility?

A few thoughts to kick things off:

. Coins will be better than bars for a public used to coins but will little or no concept of bars.
. Coins with an official Government look will give people comfort (even though its Government that created the mess); hence Eagles, Maples & Perth Mint.
. 1 oz and 1/2 oz are good tradable sizes, certainly no larger than 1oz.
. Round 50's I am sitting on the fence - will the general public recognise the silver content?
. Florins - hmm perhaps too old to be perceived as valuable, also confusion with pre/post 46.

Your thoughts?

Cheers,

Agnostic.
 
hmmmmmmm............would I give you potatoes for a silver coin if it is obvious there will be no fuel at the pump tomorrow...or any other day....therefore no farms....no more food
There is no way in hell that I would part with food for any kind of metal...be it gold or silver.....you want my potatoes....give me some corn...or beans...or eggs....

Total currency collapse equals total disaster.......there will be no silver/gold white knight.....only anarchy..........silver bullets would probably be best....
 
Yes that is one possible scenario; however there is another scenario where there is hyperinflation but not mobs in the streets. Businesses are still operating; however prices are increasing rapidly and people start to lose faith in the currency. Gradually they start investigating alternative trading possibilities to replace cash - barter is obvious, but a general trading currency for markets is needed. Hence my question.
 
I don't think Australia will collapse that easily...

First of all, it's so far away from the West. EU and USA will collapse long before.
And Australians will be able to learn from those scenarios and prepare, probably even avoid collapse...

Australia has strong ties with Asia. Including the bilateral trade agreement with China.
The strong Asian ties will propel the country. Asia is the World's growth engine.

Australia is a major commodity exporter. With all those gold mines... it's hard to imagine a country "going bust".

The vast territory has an abundance of natural resources.
And the geographical isolation can also help survive a global financial catastrophe.

The EU, USA, Japan are closer to "doom and gloom", but Australia is among those countries that I see survive easier.

Think about Belgium, the UK or the Netherlands... They have very few resources, small territory, but many people living on small areas.

Plus: probably some will run to the Australian dollar when the US dollar and euro will start crumbling. At least for a while, it could play the role of the Swiss franc during the 2008 crisis and the individual crises in EU countries.

A stronger AUD can help Australians invest even more in (thus, cheaper) PMs.

...as for your stacking question:

Again, it depends on how much you're willing to invest in the PM products...

I guess you should (anyway) focus on those easy to trade 1 oz coins, but don't omit buying a few bars and even large 10 oz coins, 1 kg coins (rather discs) - like the Kookaburras from Perth Mint (these big ones often sell cheaper per ounce than a small single ounce coin).

Maple Leaf coins are also among the cheapest ones... fine .9999 coins - among the best quality silver coins you can get at an astounding price.
A tube has 25 pieces, unlike the more wide-spread 20 coin-containing tubes (like ASEs).
 
I've started stacking mostly because I understand it's only A matter of time till dollar spectacularly falls over, so I would rather have some savings in a tangible object. Maybe it wont be able to buy you food but it's better than the piece of paper that started the problem.
With that as my motivation I reakon 1oz coins stamped correctly are fair way to hold some but at the same time its alot of silver if only a small transaction so maybe just copping it and buying 5 oz or so of 1/10 coins... you pay 30% more per 0z but they are very usable, throughout history apparently..
And Then maybe some 5 & 10 Oz bars, cause they look really nice..
Anyway Thats my plan..
;-)
 
I think Australia is in a big big credit bubble and will offer absolutely no resistance when one of the big boys fail. To top it off I think 80% or more live pay check to pay check in this country without any buffer incase of shortages or difficult times. Also living off credit cards and large morgages and personal loans. Right now credit is easy to get I Aus/NZ. Also it seems to be part of the culture to expect government assistance in hard times. I think australian and new zealand cultures are so hopelessly reliant on the system that things could potentially hit very hard here.

I think all the global economys are so interlinked and intercontected any kind of decent upset could upset the house of cards.

Feel free to express your opinion. I make no claims to knowing what would actually happen in this kind of event. I am just expressing my personal opinion.
 
OneDay said:
I think Australia is in a big big credit bubble and will offer absolutely no resistance when one of the big boys fail. To top it off I think 80% or more live pay check to pay check in this country without any buffer incase of shortages or difficult times. Also living off credit cards and large morgages and personal loans. Right now credit is easy to get I Aus/NZ. Also it seems to be part of the culture to expect government assistance in hard times. I think australian and new zealand cultures are so hopelessly reliant on the system that things could potentially hit very hard here.

I think all the global economys are so interlinked and intercontected any kind of decent upset could upset the house of cards.

Feel free to express your opinion. I make no claims to knowing what would actually happen in this kind of event. I am just expressing my personal opinion.
Click to expand...

Yes I agree that our global economies are more linked that many suspect; and one large country failing would take many others down with it.

So in that situation, what silver would you suggest would be handy to have jingling in our fatigues pockets?
 
OneDay said:
I think Australia is in a big big credit bubble and will offer absolutely no resistance when one of the big boys fail. To top it off I think 80% or more live pay check to pay check in this country without any buffer incase of shortages or difficult times. Also living off credit cards and large morgages and personal loans. Right now credit is easy to get I Aus/NZ. Also it seems to be part of the culture to expect government assistance in hard times. I think australian and new zealand cultures are so hopelessly reliant on the system that things could potentially hit very hard here.

I think all the global economys are so interlinked and intercontected any kind of decent upset could upset the house of cards.

Feel free to express your opinion. I make no claims to knowing what would actually happen in this kind of event. I am just expressing my personal opinion.
Click to expand...

+1

Nice post
 
Agnostic said:
[Apologies in advance if this has been asked before]

We stack for a range of reasons, and one reason for me is to have some tradable money in the event of a total currency collapse.

The scenario I am talking about is if there is a total loss of confidence in the Australian dollar, perhaps due to hyperinflation; and the wheels of commerce start grinding to a halt. I want to have money so that I can buy everyday supplies. Yes I know it is good to have stockpiles of food and water on hand, I am not discussing that here.

Which silver would be the best to stack for that possibility?

A few thoughts to kick things off:

. Coins will be better than bars for a public used to coins but will little or no concept of bars.
. Coins with an official Government look will give people comfort (even though its Government that created the mess); hence Eagles, Maples & Perth Mint.
. 1 oz and 1/2 oz are good tradable sizes, certainly no larger than 1oz.
. Round 50's I am sitting on the fence - will the general public recognise the silver content?
. Florins - hmm perhaps too old to be perceived as valuable, also confusion with pre/post 46.

Your thoughts?

Cheers,

Agnostic.
Click to expand...

1g gold nuggets
 
People in Australia, US and other Western countries are so misinformed about gold and silver, they would probably only give you the monetary denomination for your precious metals,

So 1 AUD for 1 oz of silver coin and 100 AUD for a 1 oz gold coin. So with a currency collapse, 2 oz of silver for 1 loaf of bread and 5,000 oz of gold for a 3 bedroom house, haha. Maybe move to China or India with all your silver.
 
Round fifties and 50% florins for me. Tougher than sterling or 999, and if people don't know about them now, they'll sure learn quickly once the barter economy gets going.

Plus they look great in a treasure chest, arrr!
 
Yeti Hunter said:
Round fifties and 50% florins for me. Tougher than sterling or 999, and if people don't know about them now, they'll sure learn quickly once the barter economy gets going.
Click to expand...

How do you think people will go distinguishing between pre and post 46?

Many people like simple solutions.
 
Agnostic said:
Yeti Hunter said:
Round fifties and 50% florins for me. Tougher than sterling or 999, and if people don't know about them now, they'll sure learn quickly once the barter economy gets going.
Click to expand...

How do you think people will go distinguishing between pre and post 46?

Many people like simple solutions.
Click to expand...

Probably by the year on the coin :lol:
 
Agnostic said:
Yeti Hunter said:
Round fifties and 50% florins for me. Tougher than sterling or 999, and if people don't know about them now, they'll sure learn quickly once the barter economy gets going.
Click to expand...

How do you think people will go distinguishing between pre and post 46?

Many people like simple solutions.
Click to expand...

I would recommend any PM bullion for preservation of wealth but for day to day bartering in a dire situation where currency is worthless definitely junk silver, florins shillings 6d's 3d's.
These are a great way to hold very recognizable fractional silver and usually can be purchased close to spot rather than the very high premium fractional bullion.
The concern that these coins will not be recognized or that there would be confusion about the value of post or pre 45 coins is of no concern to me.
I say this based on the kind of people who you would be trading with in such a scenario.
These will be the smarter people, the ones who will survive and in time, prosper in such an environment.
What do you expect the people who have not prepared now to be doing?
What will they have that you may want to trade?
These are the ones that are going to be rioting, looting and killing each other, not the crowd you want to hang around with let alone try to trade with.
The crowd you will want seek out in such a scenario will be the kind of people you meet here and they will know very well what the value of your metal is.
Those that do not recognize the value of any item of precious metal now or in the future are not going to be of any use to themselves or you and will need to be avoided.
Y'know, the ones that like simple solutions.
They will initially sit around waiting for the government to arrive and fix it all for them and when they realize that is not going to happen then they will go apeshit.
 
We also have some nifty new technology available since the last time we used silver or gold in our currency. I wouldn't be surprised if some enterprising types start little corner-shop XRF businesses in the future. Or maybe it'll be a service the banks start offering, if they don't get destroyed by the maelstrom. Ubiquitous assay services would be essential to a post-crisis silver-backed economy.
 
oscarheem said:
People in Australia, US and other Western countries are so misinformed about gold and silver, they would probably only give you the monetary denomination for your precious metals,

So 1 AUD for 1 oz of silver coin and 100 AUD for a 1 oz gold coin. So with a currency collapse, 2 oz of silver for 1 loaf of bread and 5,000 oz of gold for a 3 bedroom house, haha. Maybe move to China or India with all your silver.
Click to expand...

I really doubt this to be the case - not when Gold is reported on the morning and nightly news as 1300 to 1500 per t/ounce for the past few years. They may loose there way of life but not there memory.
 
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