I am not a gold bug. I don’t want it as an investment or hedge. I am thinking of buying some to use as currency in case the stuff hits the fan, in whatever form that comes.
I have heard of it being used in recent times during natural disasters but those stories don’t go into detail. Has anyone tried buying something with gold bars or coins? What would be the best denomination to use?
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I would think if things go that far south its not going to be gold needed. but food and bullets. Those will probably go hand in hand to be honest.Originally Posted by zelmo
If we get that deep then chickens will be worth more than gold.
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Might be firing that gold in bullets if SHTF!
If stuff hits the fan as you say how would you use the gold? Cash would be worthless likely and I would assume any standards for gold value would depend on the person you are directly dealing with so they could give you less than what you feel it is worth. In times of chaos all rules are out the window.
My idea of investing in precious metals is buying another 1000 rounds of ammo. I suppose if things get that bad you could always pour yourself some gold bullets.
There will always be a need for a base currency. Gold and other precious metals will be one option.
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A sign would be Costco is starting to sell it but they won’t buy it back…..
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If the crap hits the fan, gold won't be worth much in terms of barter. For bartering, the most valuable two things will be canned goods and ammunition.
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Yeah if it gets that bad, you need ammo and lots of it. You’re gonna have to take what you need to survive.
I didn’t start this thread to have a debate. I guess nobody can answer the question but feel the need to say something irrelevant.
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1/10ths could be useful. But really, somebody with a gun is going to kill you for them. Invest in brass, lead, steel, plastic first.
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Never bought anything with precious metals, but have accepted them as payment, but not during a natural disaster. Accepted them at spot value. If you want it for a situation like you’re asking about, I would think you would probably want multiple “denominations” worth of metals. Get some silver for smaller purchases. Pre ‘64 quarters, nickels, & dimes and some 1 oz coins. Then get somesome 1/4, 1/2, & 1 oz gold coins for larger purchases. I would only want american eagles or canadian maple leafs. I probably wouldn’t bother with bars myself, unless you need to payoff a shady politician. This, of course, is after I have a solid stockpile of ammo and food. I also agree with what most of the other commenters on this thread are saying. The precious metals will probably be better as a storage of wealth during the rebuild after a societal collapse rather than a currency during it.
I'm not sure what company is pushing around this thought, but my brother asked me the same thing. My answer is when sheet goes completely south, no one will care about gold, what can you do with it in survival mode? Like others have said, food, bullets, guns and something I was told 20 years ago. Hand farming tools, seeds, etc (Gardening).
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YepBrass and tin would be a lifeline.
Is this based on the "Doom &Gloom" TV commercial selling gold?
Like minded friends and family. Hopefully more capable than not, sadly.
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