Silver Coins WTSHTF?

[KevsFarm]

Well, who knows who's right..? I guess we will see in time, one things for sure.We as a nation, and most of the world is indeed on a unsustainable course.It's just a matter of time at this point, when the doo-doo really starts to fly.
We can agree to disagree, yes..? I just don't see silver/gold nor copper as being a whole lot of help, in a complete collapse.Their will always be some who will have enough stores, who would be willing to barter for metals.However. i think most will keep there non-metal stores to survive another day.

 

[Wifezilla]

Sunny, they used 95% copper in coins until 1982. There are some coins from 1982 that are 95% copper but most are not. You would have to weight the 1982s to make sure you had copper. The copper pennies weigh more.

As for nickels, they have not yet changed the composition of nickels. They are still 75% copper. The composition is slated to change so they will soon have no valuable metal content.

 

[k0xxx]

Well, who knows who's right..? I guess we will see in time, one things for sure.We as a nation, and most of the world is indeed on a unsustainable course.It's just a matter of time at this point, when the doo-doo really starts to fly.
We can agree to disagree, yes..? I just don't see silver/gold nor copper as being a whole lot of help, in a complete collapse.Their will always be some who will have enough stores, who would be willing to barter for metals.However. i think most will keep there non-metal stores to survive another day.

Personally, I don't feel that there will be a lot of bartering done with silver. I may be wrong, but I believe that most bartering will be done with food, tools, ammo, etc.

Where I believe precious metals will be important is in preserving wealth during severe inflation or a complete economic collapse. When the dollar becomes worthless (as I feel that it certainly will), silver will retain value. Once the new currency is established, whatever it is, then silver can be converted back to money.

In a severe run of inflation the cost of everything will go up, including property taxes. As lighthawk mentioned, silver can be sold to pay property taxes. During the first great depression, a lot of rural people had enough to eat, with their gardens and livestock. But they ended up loosing their farms because there was no money to pay the property taxes.

 

[KevsFarm]

KOxxx..i understand what your saying.Really though, how many property owners are going to be able to get their hands on enough silver to pay the tax man..?
Its the feds "funny money", they are the ones who keep printing the worthless junk...! They have to take it from taxpayers, as legal tender, they provided for goods and services.
I guess the bottom line would be revolt,i'm not leaving my home of 22 yrs because they won't accept their own funny money, period...You gotta fight for something, i'm 58yrs and i'm not leaving at this point..! Where would i go..? This is my home, my space...
Their would be so much blood in the streets if the gov't tried taking homes from people,( and i don't mean foreclosures) because the money they printed is useless to pay property taxes.I'll not leave,if this is my last stand , so be it. A situation like this would make the people revolt...

 

[k0xxx]

KOxxx..i understand what your saying.Really though, how many property owners are going to be able to get their hands on enough silver to pay the tax man..?

I guess that depends on your current financial ability and your tax situation. Here in rural Arkansas, my property taxes for our 15 acres and 1300 sq. ft. home run about $60 per year, after a $300 exemption for it being our primary home. It doesn't take long to put back enough silver to pay for quite a few years.

In states with a more draconian property tax, it would be much harder. In those cases, all I can recommend is that people vote with their feet. YMMV

 

[lighthawk]

KOxxx..i understand what your saying.Really though, how many property owners are going to be able to get their hands on enough silver to pay the tax man..?

I guess that depends on your current financial ability and your tax situation. Here in rural Arkansas, my property taxes for our 15 acres and 1300 sq. ft. home run about $60 per year, after a $300 exemption for it being our primary home. It doesn't take long to put back enough silver to pay for quite a few years.

In states with a more draconian property tax, it would be much harder. In those cases, all I can recommend is that people vote with their feet. YMMV

Considering how silver prices are advancing you should be able to pay your property tax in full with one silver round next year. I'm in one of those "draconian states". Five years ago it would have taken 320 silver rounds to pay my property tax. Today it would take 48. By all projections next year it may only require 26. Should our currency fail all bets are off. JMHO

 

[Icu4dzs]

Stock food first. TOTALLY! But if you have change on hand in a container somewhere, sort the coins. I did that and came out with 20 or so silver dimes, some silver quarters and even a couple of silver 50 pieces.

After you get the silver out, keep all of the nickels (any year), and the copper pennies (pre 1982). Then take all the "junk coins" (as in those with no metal value) and trade them in at the bank for rolls of nickels OR cash the "junk coins" in and go buy some extra bags of feed, or bags of beans.

DITTO WHAT SHE SAID!

Personally, i don't think gold, silver and the likes would be worth much in a SHTFS...You can't eat it, your livestock can't eat it. You may find some with allot of food stores and emergency supplies in general to trade silver/gold with.I think most folk who prepared, will want to keep what they have for survival of themselves and family.

Now this makes an interesting point...one that should bring some serious thought to mind. We here often talk about bartering and in most cases, that is the current thinking because some folks will have stuff that others need and the others will have stuff they need. BUT (he said in huge capital letters) Be careful with whom and WHAT you barter.

First consider the fact that not everyone is the honest, hardworking, fair-play kind of person you might be. Would that this were true but after 61+ years of life, I've found out the hard way that trusting everyone without a healthy dose of skepticism and being careful eventually brings disaster in some form.

If for sake of argument, you end up bartering something you happen to have in reserve volumes and this happens to be what someone less scrupulous who wants it, is willing to TAKE from you because they are crafty? Now your family may go hungry...or worse.

Let's use the example K0xxx makes with Bullets, beans and bandaids (thus demonstrating his military logistical experience).
You happen to meet a stranger who wants some bullets. Little do you know they want ALL your bullets, and ALL your beans. You just thought they needed a hot meal while they were "on the road". You go along, trusting your fellow man and find out (much to your eternal dismay) that this person was not only NOT trustworthy but exploited their knowledge of your resources to steal it from you later. Mores the pity. You might have prevented this.

On the other hand, there are things to barter that do NOT put you in a position of vulnerability (more than once) such as allowing a neighbor to use your barn to store his machinery over the winter in trade for a cow. Now you have what you need and he gets what he needs. All's fair and you both support each other's survival.

Trading work hours is a similar issue. Admittedly sometimes folks will burn you, but the loss is only a few hours of your time and work rather than ALL YOUR BEANS which you need to feed yourself and family.

So what we are talking about here is risk. Monetary trading diminishes risk because there is a standard of exchange. your dollar is worth what his dollar is worth...ostensibly.

So if you place a dollar value (and I use dollar as a term here) then you tell him your item will cost him $X instead. This way, they then have to give you what they have in trade for what you want. This reduces your exposure to risk of "loss".

We lost our sense of this when people stopped using money to trade for a "promise to pay later" in the form of credit cards, etc. Now that this has completely failed, we need to go back to the original system which is currency. If you can't pay for it, you can't have it. PERIOD. You will only afford what you work for and not what you MIGHT WORK FOR IN THE FUTURE (or get from the government)

Our federal currency is no longer welcome in other countries because our debt has grown so large that the dollar has no value. What's more they have collected so much of it, (i.e. taken it out of circulation) and our gov't just keeps printing more...)

We have nothing to back it up if they call in the debt. They have the right to do so, but we can't produce what they want. We have sent all our resources to other countries and now they have what we once had and no longer need our goods. Many of our people have purchased wildly expensive illicit drugs with good money and now there is no return on that investment...worse, they now want a handout from the gov't because they are out of money.

In addition, we don't make anything in this country any more so they can get what goods they want locally or from other countries rather than from us. We design and invent the stuff but the manufacturing secrets are lost to the other countries. We've been "closed out of the market" and as such are now in the throes of economic death.

Not until our products and goods are superior to those built in other countries and made by OUR PEOPLE in OUR COUNTRY will our standing in the world market return to even much less superior.

This was NOT meant to be an economics lecture so I apologize but what I really wanted to say is just "be aware of with whom you are dealing and how much you let them know" when you are in "barter mode". Whatever we use for currency has to be standardized so everyone can "barter" safely. JMHO
YMMV
Trim sends

 

[KevsFarm]

Dang..KOxxx...i'm loving your property tax situation...! I have a lousey 1 1/2 acre in ny and pay just under 5 grand a yr (last yrs tax bill)...This one BIG reason i've been wanting to get out of ny a long time.My older brother has a 37 acre farm in W.Virginia, he pays under $700. a yr in taxes.You got him beat,lol...but man that still sounds great to my tax burden
Thinking about what you guys have said concerning silver rounds, i can see it being a real option for such low property taxes.I guess i'm stuck in the muck, until i can sell and get the heck out of ny, which doesn't look like anytime soon.Being such a big shortage of work where i am, i'd never be able to make enough funny money to buy enough silver rounds for the taxman anyway..!
Don't know if your from Ark. KOxxx or you moved there from else where.If you did move there, your a smart man..! Tax liablities can really suck and hurt, indeed make or break a situation...

 

[k0xxx]

Low taxes were one of the criteria that I used when looking for a place to retire. Also in Arkansas, because I am disabled, my millage will not increase for as long as I own the property.

Arkansas, at least this area of the state, does have some big disadvantages if you are not retired. Mainly it is a lack of jobs. Also, in my particular area, there are no hospitals within 30 miles. And the nearest one is basically just a "patch 'em up, and move 'em out" hospital.

Still, land and house prices are cheap, and when combined with the property taxes, it's not a bad place to be (at least in my situation). Soon, I may be able to pay my taxes with an ounce of silver and get change back.

 

[KevsFarm]

Okay i confess, i've been online checking out silver prices.Looks to me like one would pay about $34-36 per oz./one silver round....
Hey, KOxxx...your not kidding, if silver does keep going up you may very well get change back from the taxman on a single silver round...!! Man, now i'm in envy..!
I can't believe your property taxes are so low, how in the world can your state govt. function with such low property taxes..? Do you have a big sales tax on food, etc...? They must be getting money from somewhere, or else have one heck of a small budget..!!