Money. Money. Money. Cash n Silver

Alea Jacta Est · Apr 23, 2020

How much, if any, do you keep on hand/at home?

Most folks imagine a bank run or limited ability to get your money out of the bank. In such a case, how do you pay for anything? Goods or services.

This puts cash in the spotlight so to speak. How much is enough to have on hand? Another good question might be how long after any event, that renders access to your account/money impossible, will cash suffice as legal tender? A week? A month? If things go to shit, that yankee green folding money may be worthless as tender but only worthwhile only as a shit ticket.

If/when cash has limited/no value, will silver or gold work? I think so. How much is enough? I think identifiable coinage in precious metal will have more legs that scrip. How much longer, I don’t know. How much coinage is enough to have on hand?

There theoretically comes a point where scrip and coinage both cease to be good mediums for trade. What then? Most pundits suggest BARTER is gonna be the mode for trade.

How many 22 bullets or rolls of TP is a chicken worth???

Seriously, how much is that Rolex or Ferrari worth post SHTF? I don’t know. But I do know folks will find a way to barter. I’m pretty sure that the Benjamins will decrease in value quickly if they ain’t considered legal tender by folks in flyover country.

Food. Ammo. Guns. Water. Those commodities will be precious. Money just may not be the key to happiness or trade. :sad20:

Blaster229 · Apr 23, 2020

Cases of cheap booze. Or good booze

Alea Jacta Est · Apr 23, 2020

White likker is a great trade medium as are smokes...

welder516 · Apr 23, 2020

It is going to be a re-think of all of this in the coming years i have left . I have some in place and decent barter goods , but need to up my game for sure . Look at the banks we can still get money but most of it is done via drive thru window if the drive in window is taxed greatly by the masses it may take hours of being in line .
I need to get more prepper food items and medical goods just to feel better about my own situation .

gwchem · Apr 23, 2020

We keep $500-1000. If we need more than that I figure money ain't worth it anymore.

slsc98 · Apr 23, 2020

Reading journals of those who’ve survived recent and total societal crashes (ie Argentina and Bosnia) revealed to me that, “when the time comes” and neighborhood / regional “barter markets” start popping up, GOLD is GOLD is GOLD meaning the brokers placed the same value on costume jewelry (as long as it proved 14k) as they did the “precious coins” (Ie the on TV and inside-magazine ads) and the cute little “investment grade bullion bars” people started pulling out of stashes. I think it was the Argentina blogger who recounted tale after tale of the shock on the part of the “collectors” and “investors” who saw 14k trinket-grade items buying others the exact same items as their kruggerands or what-have-you.

Oh, and that many of the people one will be dealing with in exchanging gold for essentials in those barter markets are part of criminal enterprises - either pre-existing the crash or, further away from urban areas, hastily formed thereafter - and do not even remotely resemble the honest pawn brokers etc one deals with before the bottom drops out of society.

Good thread topic!

Nnztg8r said:
White likker is a great trade medium as are smokes...

IIRC, both the ARG and BOS bloggers documented the fact that, eventually, tobacco IS gold!

danb · Apr 23, 2020

After the initial bank run people are unlikely to take gold or silver, people will initially want goods (meat, vegetables, ammo, etc.)

What people settle on as money after that is never predictable. Societies have settled on all sorts of things. The most important characteristic is that its common enough that everyone has it to trade. The function of money post-civilization is to to avoid barter (I trade my meat for $$, then trade the $$ later for wheat). People coalesce around a type of money once there is a critical mass of people using it to trade.

Who knows, people could coalesce around cigarettes or salt as money. People will need to preserve meat without refrigeration, salt is decent possibility. Salt is actually one of the more ancient forms of money. If I had to choose a metal, I would choose lead - its common enough most people have it (in their driveway even), and its also useful (ammo). There are other useful commodities (gasoline, for example) that could function as money.

Maybe a few generations later, the new govt will transition to silver and gold. but we will all be long dead by then.

The problem with guessing what will be money is that you are guessing what other people will do, which is always impossible. Gold and silver are unlikely to me simply because its just not that common. Stock up on salt and ammo and other useful commodities.

as for what the prices will be "how much is enough" ... we cant even predict the price of oil tomorrow.

Biggfoot44 · Apr 23, 2020

To repurpose a punchline , when society collapse , Hookers and Blow will hold their value .

This might seem like a joke , but not really .

Speed3 · Apr 23, 2020

I don't keep a ton at home, less than 10k more than a few thousand.

Uncle Duke · Apr 23, 2020

Money has value because we all agree that it has value. That value exists only by assuming it can buy goods.

When goods begin to dry up, it'll be all about barter. That's when you start thinking of a 22 rimfire cartridge not as a nickel, but rather as a meal, or a life saver.

cantstop · Apr 23, 2020

Blaster229 said:
Cases of cheap booze. Or good booze

This.

A case of Jack Daniels is worth more than a roll of silver eagles to folks that have used cash and credit cards for the past 50 years.

Lloyd · Apr 23, 2020

gwchem said:
We keep $500-1000. If we need more than that I figure money ain't worth it anymore.

How do you store the smokes? Would keeping them in a freezer preserve them?

Likely a stupid question, but I dont smoke but I totally agree with your logic. I dont really drink much but still buy cheap bottles of vodka and distillery is something I very much want to learn if it weren't so illegal.

.

Bertfish · Apr 23, 2020

I'm young and not wrinkly. Pay with my body

ground chuck · Apr 23, 2020

I had the opportunity to help liquidate a pepper's stash. Biggest prep I've ever seen in person. He had a large amount of alcohol as part of his prep.

Small silver and gold denominations, no one is making change for your 10oz bar

Sent from my SM-N960U using Tapatalk

shootin the breeze · Apr 23, 2020

Similar to above. As far as danb says, I'd say the desire for gold/silver depends on what the group think is regarding the catastrophe. Take Coronavirus for example. Let's say it was more deadly. We'd have a lockdown for real I'd think which will make $ inaccessible for some time. Additionally. Food delivery would be interesting but what I'm getting at is this would be short lived in the grand scheme of things (unless it was way more deadly). Things would cool off and there'd be a run on the bands but for a while (and possibly the whole time until things stabilize), fiat money would still be accepted (likely not a what we are accustomed to be able to by x for y though). A more definite catastrophe, i.e. nukes, and the $ is now TP.

So, for the not quite end of the world I have a few thousand. I use it for discounts on work now as cash is king. I replace it. I'll have it for a limited duration event. I also have gold/silver in hand as it's needed but as danb said, that won't last either I think. Vices are also king. I'm not prepped yet but the plan is booze, cigarettes (well-sealed of course), tampons/liners, matches, salt, raw lead and readily deliverable lead (lots). I have plenty of guns (well not really at least until I own every gun) so could trade off some if needed as well. For personal stores of course, canning everything I can

brucaru · Apr 23, 2020

Silver, gold, tobacco are all fine and good but do not underestimate the value of marketable skills -Welding, mechanical, medical and many others.

KevinK · Apr 23, 2020

ground chuck said:
I had the opportunity to help liquidate a pepper's stash. Biggest prep I've ever seen in person. He had a large amount of alcohol as part of his prep.

Small silver and gold denominations, no one is making change for your 10oz bar

Sent from my SM-N960U using Tapatalk

Miniature, and 1/2 pint liquor bottles = change.

danb · Apr 23, 2020

shootin the breeze said:
Similar to above. As far as danb says, I'd say the desire for gold/silver depends on what the group think is regarding the catastrophe. Take Coronavirus for example. Let's say it was more deadly. We'd have a lockdown for real I'd think which will make $ inaccessible for some time. Additionally. Food delivery would be interesting but what I'm getting at is this would be short lived in the grand scheme of things (unless it was way more deadly). Things would cool off and there'd be a run on the bands but for a while (and possibly the whole time until things stabilize), fiat money would still be accepted (likely not a what we are accustomed to be able to by x for y though). A more definite catastrophe, i.e. nukes, and the $ is now TP.

So, for the not quite end of the world I have a few thousand. I use it for discounts on work now as cash is king. I replace it. I'll have it for a limited duration event. I also have gold/silver in hand as it's needed but as danb said, that won't last either I think. Vices are also king. I'm not prepped yet but the plan is booze, cigarettes (well-sealed of course), tampons/liners, matches, salt, raw lead and readily deliverable lead (lots). I have plenty of guns (well not really at least until I own every gun) so could trade off some if needed as well. For personal stores of course, canning everything I can

We have not seen a good old fashioned bank run in over a century, thanks to the FDIC.

It seems unlikely to me people take fiat money after a bank run in the USA. It means the govt has collapsed and/or people don't trust the US dollar currency, govt FDIC guarantees, or financial system. Cue hyperinflation (which essentially means fiat money becomes worthless).

What people do in places in South America where there is hyperinflation is trade their salary immediately for something stable (like the US dollar).

In other words, by the time you see the bank run in the USA, its too late. You should have traded your fiat money for something stable weeks before. Once you see the bank run, be the first person to trade your fiat money for something more stable.

winch · Apr 23, 2020

I buy a tube of American Silver Eagles (20) every year and give them out to my kids and grandkids on their birthday’s and Christmas.

Lousy Shot · Apr 23, 2020

We always keep $10,000 in crisp, fresh, $20 bills on our kitchen table for anyone who needs a few bucks. Plus, we keep our gold and silver coins and bullion in mayonnaise jars out on the front porch.

Money. Money. Money. Cash n Silver

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