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I hope this is the correct forum for my question: I believe we all know what will happen to our monies value if.when the FED crashes. Paper money is based on the Federal Reserve, right? Recently I heard that coins will retain value because it is based on the U.S. Treasury. True or not? Expert input please!
From what I have read in a SHTF scenario, the value of a coin is based on the metallurgical content. From this standpoint the only coin that has true metallurgical value is the nickel. The other U.S. coins no longer contain enough copper or silver to even cover their face value. I do save coins of all denominations, but more from an ' I don't like to carry change ' standpoint; than from a prepping standpoint.
I have never heard that in a SHTF scenario coins would have more value than paper.
The only place success comes before work is in the dictionary.
Everything happens for a reason. Sometimes the reason is you are stupid, and make bad decisions.
The only coins that will have value, imo, will be those with gold/copper/silver content. Pre-1982 pennies for copper. Pre 64 dimes, quarters, half dollars etc.... for silver. I don't use gold coins. How can you guy a loaf of bread with a gold coin? A cheap used car maybe. An acre of land in some places. but small amounts of consumables? That is why I have junk silver coins.
I know about the value of coins especially the pre 1965 +/- with silver, etc. My question is, what financial body gives face value to hard money, coins? We know that paper money value is based on the Federal Reserve. Which is really no value. We just think is has value. If there is a financial collapse the paper money will be really toilet paper. But how will coins fare when this happens if it value is based on the U.S. Treasury?
My question is, what financial body gives face value to hard money, coins? But how will coins fare when this happens if it value is based on the U.S. Treasury?
Your "LOCAL" Warlord will tell you what they are worth...........then he will kill you and take everything. And sell your eatable body parts to the meat market.
I hope this is the correct forum for my question: I believe we all know what will happen to our monies value if.when the FED crashes. Paper money is based on the Federal Reserve, right? Recently I heard that coins will retain value because it is based on the U.S. Treasury. True or not? Expert input please!
As most of you probably know, in the past gold has stayed muted during a stock market crash. Historically speaking (outside of crashes), the crappier the economy is, the more valuable gold becomes. But for the most part (barring any outlier bull markets) silver seems to remain fairly stable regardless of what the economy is doing mostly because it is more of an industrial metal than gold. That's why silver is regarded as a good hedge, rather than an investment.
However, in the face of atruly severe and prolongedSHTF (including TEOTWAWKI-style), I suspect that money as we know it today (gold, silver, and paper currency) will be nearly worthless for the duration. You will see it when a can of Spam or a Bic lighter becomes far more valuable than money. I am probably the odd duck in the room, but I believe that money won't regain its value until much, much later after the hard "reset."
I could be wrong, but I suspect that in the face of a less severe SHTF event where global economic players are still in position, the value of gold will be controlled by who/whatever owns the most gold in the world.
You are right. The best we can do in a long term SHTF is to barter but not where you are staying. There would need to be somewhere that people in your area could go to set up bartering sites. We have several things that I have made plus could barter food for things you might need. Possible if you know the person and feel comfortable letting on your site, such as a neighbor or someone you could barter for skills you can't do yourself. We do have junk silver, gold and other silver but I don't plan on using that unless someone has something I really need and they want to sell for silver or gold. You would have to know the value of such silver and gold to do that though.
I hope this is the correct forum for my question: I believe we all know what will happen to our monies value if.when the FED crashes. Paper money is based on the Federal Reserve, right? Recently I heard that coins will retain value because it is based on the U.S. Treasury. True or not? Expert input please!
As a park ranger I had to monthly make deposits to the Federal Reserve Bank and as per their Memorandum in 2005 all U.S printed and minted currency is backed and acceptable for transactions with the U.S. Reserve Bank. In English, they take it for banking purposes.. Our economic structure is kind of confusing (at least for me), But all U.S. currency is "owned" or "backed" by the U'S' Treasury Dept. as the federal government institution that has primary responsibility for our economy. The U.S. Reserve Bank is actually not a part of the U.S. government and is actually privately owned by it's member banks which work on guarantees from the U.S. Government as to the value and backing of our currency. The government uses the Fed. Reserve for conducting business and paying it's bills as well as using the Fed. Reserve for distributing printed and minted currency to the populace through the Fed. reserve owners banks. (anyone besides me have a headache now.) As long as the government stands and people have trust in it, our currency will have value. I hope this made since.
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