Gold and Silver

[Bill Coye]

Hey Mr. Coye,

The following question is a thought exercise to possibly demonstrate to these yahoos the validity of storing wealth in forms more value-dense than peanut butter:

Would you, now or in the future, accept silver in trade for one of your fine knives?

And, for the record, I store peanut butter.

Absolutely.

I have accepted both gold and silver bullion as payment for my knives....

....and will continue to do so in the future.

 

[SMS]

Take history as a guide...

When the Romans were in power, silver and gold were the coins of the government. After Rome fell, the people still used those coins for trade and barter.


When the (Insert every other empire ever to exist that is not around today) were in power, silver and gold were the coins of the government. After (Insert every other empire ever to exist that is not around today) fell, the people still used those coins for trade and barter.

Could it be different when our empire collapses or if the entire world is in a lurch, sure, but why would it?

But Rome did not fall in some apocalyptic or global collapse...other governments/societies were still intact and therefore provided a market/use/value for gold.

Other than the scientific/manufacturing uses for gold and silver, where does there inherent value come from? Like Hump posted earlier...people once traded seashells and they held as much sway over a localized economy as gold did.

I'm engaging in the purely hypothetical global collapse speculation....just for fun. (I keep some precious metals as a hedge) :-)

Gold is only "money" if there is someone out there willing to give you something else that you need in exchange for it. I guess there will always be that someone around, but just wondering if the "inherent value" has it's limits...limits that haven't been tested yet.

Whether or not Mr. Coye would accept silver for a knife today is not relevent to that topic...and perfor8, we are not "yahoos" for discussing it.

 

[Bill Coye]

This isn't for the "you can't eat silver" or "I'll use my gun to take your silver" crowd.

http://online.wsj.com/article/SB10000872396390443916104578019703001560168.html?mod=googlenews_wsj

 

[perfor8]

But Rome did not fall in some apocalyptic or global collapse...other governments/societies were still intact and therefore provided a market/use/value for gold.

Other than the scientific/manufacturing uses for gold and silver, where does there inherent value come from? Like Hump posted earlier...people once traded seashells and they held as much sway over a localized economy as gold did.

I'm engaging in the purely hypothetical global collapse speculation....just for fun. (I keep some precious metals as a hedge) :-)

Gold is only "money" if there is someone out there willing to give you something else that you need in exchange for it. I guess there will always be that someone around, but just wondering if the "inherent value" has it's limits...limits that haven't been tested yet.

Whether or not Mr. Coye would accept silver for a knife today is not relevent to that topic...and perfor8, we are not "yahoos" for discussing it.

I'd say 6000 years of history is a purty good test of silver's limits, and yahoo is a term of endearment.

"Value" is relative and very personal. Hold your breath for 5 minutes and then have a discussion about what you value. You were correct earlier when you stated you must be "fed, clothed, and secure" first. Air, water, food and shelter take precedent over wealth storage. I'm not a Maslow fan but his "hierarchy of needs" is applicable here. Assuming your basic human needs are met, and you have wealth you wish to condense, store, and transport... well, that's why God made silver and gold.

 

[EFsDad]

But Rome did not fall in some apocalyptic or global collapse...other governments/societies were still intact and therefore provided a market/use/value for gold.

Oh when you say apocalyptic global collapse, then yeah silver and gold are just metals. But if there is any semblance of society, then ya, gold and silver will have value, either as jewelry or as a trade medium.

Asteroid hits = Food for trade
Economy collapse = Au Ag for trade

Glad to have your theoretical discussion.

Gold is only "money" if there is someone out there willing to give you something else that you need in exchange for it. I guess there will always be that someone around, but just wondering if the "inherent value" has it's limits...limits that haven't been tested yet.

You can insert any thing for "gold" in your sentence and it still works. Food, bullets, medicine, smokes, booze ad nauseum. If I don't want what you have, then yes, whatever you have is not "money" to me.

 

[perfor8]

I'll hardly ever agree with any article in it's entirety. Case in point, this guy finishes by saying hold on to your PM stocks. I'd say (in review) dump anything dollar-denominated. They're gonna pay for your silver stocks with FRNs so that's a no-go for me. The point is to get OUT of FRNs. Stack physical.

http://www.24hgold.com/english/news...0020&redirect=false&contributor=Adam+Brochert

 

[cjjtulsa]

Stay the hell away from anything that isn't physical gold or silver. Why would anyone hedge against a fiat currency with paper gold and silver? If it ain't in your fist, it doesn't exist.

 

[Bill Coye]

If it ain't in your fist, it doesn't exist.

Worth quoting.

 

[okdkranch]

Gold and Silver are the way to go. Silver, especially dimes for local purchases and Gold to buy larger purchases such as some land if you do not have it. If you do not have land buy some now with dollars. But I have not seen reference to maybe the best storage items to over stock on - Toilet Paper and Tampons. I read about a family that bribed their way out of Germany in the war with a case of TP.

 

[Bill Coye]

Here's a store in north Texas that only accepts silver as payment.

http://www.agtradingpost.com/

They shut down after 2009 and are just starting up again.