Will the stupid try to barter with Sacajawea "gold" coins in a SHTF situation?

[Grand Master Melon]

I was driving to work today and started thinking about all the companies that are always selling the Sacajawea and Presidential coins on tv and radio and how they often refer to them as being gold.

Are the stupid who buy them as collectables from the tv and radio stupid enough to try to barter with them?

[Slimer]

I was driving to work today and started thinking about all the companies that are always selling the Sacajawea and Presidential coins on tv and radio and how they often refer to them as being gold.

Are the stupid who buy them as collectables from the tv and radio stupid enough to try to barter with them?


Yes. And they'll get angry with anyone who tries to tell them they're not gold.

[palani]

The U.S. bailed out a central America country years ago by sending them millions in Sacajawea coins. The natives thought it was great as the image on the coin looked exactly like them. They believed the U.S. had come up with this coin just for them. These coins proved to be so popular that Columbian counterfeiters started duplicating them.

[wildcard]

People are buying sets of those state quarters as if they hold some value. It's my understanding there is more valuable metal in a nickel.

[k-os]

Sadly, I think they will. I received 4 presidential dollars in change from a gun range a couple of weeks ago.

At least they are worth more than a paper dollar. Coinflation.com (http://coinflation.com/) puts the estimated metal value of the presidential and Sacajawea dollars at $.0485, slightly more than a common (1946-2010) nickel which is $.0459

[DMac]

People are buying sets of those state quarters as if they hold some value. It's my understanding there is more valuable metal in a nickel.


That's correct wildcard. Even from a numismatic perspective, basically only an error (Wisconsin) coin fetches some decent coin. A quarter is only worth 1/4 of a dollar because the fed.gov says so - and they have the (most) guns.

A quarter is only worth about .04 cents in metal.

[Neuro]

The U.S. bailed out a central America country years ago by sending them millions in Sacajawea coins. The natives thought it was great as the image on the coin looked exactly like them. They believed the U.S. had come up with this coin just for them. These coins proved to be so popular that Columbian counterfeiters started duplicating them.
Did they put real gold in them?

Anyhow that could be a good idea to do to protect your gold from confiscation and theft. Re-melt it to a fake gold coin.

[Ash_Williams]

I saw an advertisement for "golden" coins in one of those newspapers at the grocery store. What's the deal? They are gold plated or just some metal that is gold in color?

[sirgonzo420]

I saw an advertisement for "golden" coins in one of those newspapers at the grocery store. What's the deal? They are gold plated or just some metal that is gold in color?


They are a gold-ish color.

The ads are all borderline fraud, if not fraud outright.

[Libertytree]

Several weeks ago I was talking to one of my customers about the price of gold/silver, there was a woman, next in line who proclaimed to us that she had rolls of those, the ones with the woman and the new presidential series as well!!! She was SOOOO excited as she had no idea they were worth THAT MUCH!!!! She didn't pay nearly that amount!

Me and the other customer had figured out what she was talking about and were laughing our asses off, then he explained to her that she really didn't have gold coins, not even gold plated but colorized coins, that weren't worth the metal it took to make them.

At first she thought she had hit the lottery but by the time it was said and done she felt like she had been swindled, which of course she had.

So, yes those people exist, sad but true.

[madfranks]

I saw an advertisement for "golden" coins in one of those newspapers at the grocery store. What's the deal? They are gold plated or just some metal that is gold in color?


I have seen them too. The ads which show large bars of gold being guarded in the vault, charts showing the price of gold going up, essays from "experts" saying that gold is what to buy, and then they offer you rolls of "golden" dollars for a huge premium. I kept one of those ads and studied it closely, they are very good to never actually claim there is gold in their products. They are promoting gold, but never claiming to actually sell it. There is no gold in those coins, they are only gold in color.

[DMac]

Several weeks ago I was talking to one of my customers about the price of gold/silver, there was a woman, next in line who proclaimed to us that she had rolls of those, the ones with the woman and the new presidential series as well!!! She was SOOOO excited as she had no idea they were worth THAT MUCH!!!! She didn't pay nearly that amount!

Me and the other customer had figured out what she was talking about and were laughing our asses off, then he explained to her that she really didn't have gold coins, not even gold plated but colorized coins, that weren't worth the metal it took to make them.

At first she thought she had hit the lottery but by the time it was said and done she felt like she had been swindled, which of course she had.

So, yes those people exist, sad but true.


Note to self: Add gold spray paint to preps for when TSHTF. Sell fake gold coins. Profit :wwfg

[JohnQPublic]

I saw an advertisement for "golden" coins in one of those newspapers at the grocery store. What's the deal? They are gold plated or just some metal that is gold in color?


They are a gold-ish color.

The ads are all borderline fraud, if not fraud outright.


Funny. Liberty dollar represented their coins (that the feds say look like "real" US coins) as actually containing silver- and they do. These ads represent fake US money as containing gold- and they don't.

Who got shut down by the Feds?

Talk about corruption.

[DMac]

I saw an advertisement for "golden" coins in one of those newspapers at the grocery store. What's the deal? They are gold plated or just some metal that is gold in color?


They are a gold-ish color.

The ads are all borderline fraud, if not fraud outright.


Funny. Liberty dollar represented their coins (that the feds say look like "real" US coins) as actually containing silver- and they do. These ads represent fake US money as containing gold- and they don't.

Who got shut down by the Feds?

Talk about corruption.


http://28.media.tumblr.com/tumblr_kyo12haO3y1qz4w5uo1_500.jpg

[Neuro]

At what price are these coins sold at?

[sirgonzo420]

At what price are these coins sold at?


If you buy them at the post office or bank, they are $1, which is their face value.

[Quantum]

The stupid will also try to use junk silver for higher than face value.

The masses of morons don't understand a 1963 quarter is worth more than a shiny 2010 one...and only a fool will try to convince them otherwise.

[Grand Master Melon]

The stupid will also try to use junk silver for higher than face value.

The masses of morons don't understand a 1963 quarter is worth more than a shiny 2010 one...and only a fool will try to convince them otherwise.


So you think Morgans, Walkers, Franklins and the rest have no place in a bartering situation?

I would agree that your 1963 quater example is a good one, Roosevelt dimes I'd feel the same way about but I don't see that holding true for the other coinage.

[Quantum]

So you think Morgans, Walkers, Franklins and the rest have no place in a bartering situation?

I would agree that your 1963 quater example is a good one, Roosevelt dimes I'd feel the same way about but I don't see that holding true for the other coinage.


I suggest you try giving away, say, a Morgan, on the street corner, in exchange for a $5 bill. 999 out of 1000 will laugh at you. "Why would I give you a $5 bill for a coin that says 'One Dollar'?"

[Grand Master Melon]

So you think Morgans, Walkers, Franklins and the rest have no place in a bartering situation?

I would agree that your 1963 quater example is a good one, Roosevelt dimes I'd feel the same way about but I don't see that holding true for the other coinage.


I suggest you try giving away, say, a Morgan, on the street corner, in exchange for a $5 bill. 999 out of 1000 will laugh at you. "Why would I give you a $5 bill for a coin that says 'One Dollar'?"
I might have to borrow a video recorder, I'd bet I'd get a taker pretty quick. What would be interesting would be to do it in different areas with different demographics. It might not fly in the hood but I'm sure it would fly in a lot of other places.

[sirgonzo420]

People are stupid, but quantum's 999/1000 is hyperbole.

[Libertytree]

I don't know Gonzo? I gave a feller .25 for a 62 quarter just the other day and he didn't flinch.

[Grand Master Melon]

I don't know Gonzo? I gave a feller .25 for a 62 quarter just the other day and he didn't flinch.
Would he have accepted 25 cents for a Standing Liberty or Barber? I bet not, I bet the uneducated would see an old coin like that and either think to themselves it was worth a fortune or at least a couple of bucks. Then again I'd be that resoning would be based on age rather than metal content.

[Libertytree]

Melon, I'm in the retail position to see these things happen all the time. Of course I'm just a collector : )

[JohnQPublic]

So you think Morgans, Walkers, Franklins and the rest have no place in a bartering situation?

I would agree that your 1963 quater example is a good one, Roosevelt dimes I'd feel the same way about but I don't see that holding true for the other coinage.


I suggest you try giving away, say, a Morgan, on the street corner, in exchange for a $5 bill. 999 out of 1000 will laugh at you. "Why would I give you a $5 bill for a coin that says 'One Dollar'?"
I might have to borrow a video recorder, I'd bet I'd get a taker pretty quick. What would be interesting would be to do it in different areas with different demographics. It might not fly in the hood but I'm sure it would fly in a lot of other places.


http://www.youtube.com/watch?v=Gk5aRIz17fk&feature=PlayList&p=58AAD9C45EAADE29&playnext_from=PL&playnext=1&index=31

[Quantum]

People are stupid, but quantum's 999/1000 is hyperbole.


Why don't you and Melon get together, with a video camera, and go to a random street corner? I'll buy the Morgan for you if you can get someone to give you $5 for it.

And no, you can't go into a senior center and try the experiment. That would drop the ratio down to 4 out of 5. ;)

[Quantum]

I don't know Gonzo? I gave a feller .25 for a 62 quarter just the other day and he didn't flinch.


LOL - good job!

I've heard of people paying face value in FRNs for a whole bag of junk silver...usually it's some "urban" thug looking for convenience.

[Quantum]

I don't know Gonzo? I gave a feller .25 for a 62 quarter just the other day and he didn't flinch.
Would he have accepted 25 cents for a Standing Liberty or Barber? I bet not, I bet the uneducated would see an old coin like that and either think to themselves it was worth a fortune or at least a couple of bucks. Then again I'd be that resoning would be based on age rather than metal content.


The American "consumerist" society has been trained to always value the "new." The vast majority of people believe "shiny" and/or "new" is "better," despite the substance, or lack thereof, behind the item.

I stand by my claim. Most Americans are too dumb, too ignorant of history to know that a 1920 "beat up" and tarnished Standing Liberty is of phenomenally greater value than the junk-metal 2010 "shiny and new" quarter. Just tell them you like to collect old coins for your grandkid or something similar, and most will make a cursory glance, see "quarter dollar" on it, and trade you for face value.

Unfortunately, for those who believe "junk silver" will be of great value "WTSHTF," the reverse is also true: these morons will NOT accept silver-content coinage for more than face value, laugh at you initially when you suggest it's valuable, and if you persist, call law enforcement, if any is available, or use force to eject you from their premises.

[Book]

Unfortunately, for those who believe "junk silver" will be of great value "WTSHTF," the reverse is also true: these morons will NOT accept silver-content coinage for more than face value, laugh at you initially when you suggest it's valuable, and if you persist, call law enforcement, if any is available, or use force to eject you from their premises.



http://www.pe.com/imagesdaily/2007/04-06/winco07d_400.jpg

I agree. Nobody will be reading the date on our dime and seriously care when we tell them that it is "worth more" than ten cents...lol.

:oo-->

[JohnQPublic]

Unfortunately, for those who believe "junk silver" will be of great value "WTSHTF," the reverse is also true: these morons will NOT accept silver-content coinage for more than face value, laugh at you initially when you suggest it's valuable, and if you persist, call law enforcement, if any is available, or use force to eject you from their premises.




I agree. Nobody will be reading the date on our dime and seriously care when we tell them that it is "worth more" than ten cents...lol.

:oo-->




I think you underestimate J6P (and JQP). They will learn quickly. If it does not happen overnight, then they will start learning the value of PMs as TS is Hing TF.

To a degree you are right. You say WTSHTF (while the SHTF). During the actual disintegration phase, there will be a lot of confusion. Once the dust settles, then PMs will likely become more tradeable. The best bet is to stay low during the panic, then come out later if you can.

[Gaillo]

Unfortunately, for those who believe "junk silver" will be of great value "WTSHTF," the reverse is also true: these morons will NOT accept silver-content coinage for more than face value, laugh at you initially when you suggest it's valuable, and if you persist, call law enforcement, if any is available, or use force to eject you from their premises.




I agree. Nobody will be reading the date on our dime and seriously care when we tell them that it is "worth more" than ten cents...lol.

:oo-->




I think you underestimate J6P (and JQP). They will learn quickly. If it does not happen overnight, then they will start learning the value of PMs as TS is Hing TF.

To a degree you are right. You say WTSHTF (while the SHTF). During the actual disintegration phase, there will be a lot of confusion. Once the dust settles, then PMs will likely become more tradeable. The best bet is to stay low during the panic, then come out later if you can.


That's my game plan. Wait until the panic is over, and the market has determined the value of PM's before starting to use them in barter/trade/exchange for needed goods. My main intention for my my metals is to trade for whatever "luxury" vegetable and livestock that I don't already grow, or for whatever goods/services I haven't already forseen and prepped for (which is, hopefully, almost nill!).

[willie pete]

Sometimes at the bank, I'll ask the teller, do you have any Anthony dollar coins? of course they look at me like I have 3 eyes, and usually say "no, I have these gold ones though"....either Sacs or Presidentials ..... :lol almost clueless

[Book]

I think you underestimate J6P (and JQP). They will learn quickly. If it does not happen overnight, then they will start learning the value of PMs as TS is Hing TF. To a degree you are right. You say WTSHTF (while the SHTF). During the actual disintegration phase, there will be a lot of confusion. Once the dust settles, then PMs will likely become more tradeable. The best bet is to stay low during the panic, then come out later if you can.


http://www.ibtstw.org/occupations/photos/cashier.jpg

Lemme try one more time please. During the actual disintegration phase we will hunker down and avoid the zombie circus altogether. Once the dust settles no store clerk is gonna read the date on our silver dime and consider it "worth" more than ten cents. Hungry people will be annoyed standing in the checkout line behind us as we attempt to negotiate the daily Kitco price of our precious silver dime. Once the dust settles there will be martial law and new paper money and our new Local Authority will control all grocery store transactions. If you want to transact normal business then you will be forced to use their new legal tender. Junk silver coins like this precious silver dime will be exchanged only at black market flea markets via common barter:

http://www.co.westmoreland.pa.us/parks/lib/parks/images/flea_market_-_2.jpg

I don't own one silver coin. I think it silly for practical reasons as an accepted medium of exchange wtshtf. I do own AGEs and think them practical now and after the dust settles IMHO.

:)

[Horn]

I don't own one silver coin. I think it silly for practical reasons as an accepted medium of exchange wtshtf. I do own AGEs and think them practical now and after the dust settles IMHO.

Aha, another banker amongst us, I should have known...you're all yella!!! ;D

The nobility of silver is priceless.

[tekhen]

why yes... yes they will.


Physical Composition

The dollar coin features distinguishing traits including: a golden color, extra-wide border, smooth edge like the nickel's, and specially designed alloy.

Specifically, the Golden Dollar is: 8.1 grams in weight, 2 mm thick, and 26.5 mm in diameter.

The coins physical makeup is a three-layer clad construction - pure copper sandwiched between and metallurgically bonded to outer layers of manganese brass.

Manganese brass composition: Golden Dollar's overall composition:
77% copper 88.5% copper
12% zinc 6.0% zinc
7% manganese 3.5% manganese
4% nickel 2.0% nickel

http://www.usmint.gov/mint_programs/golden_dollar_coin/?flash=yes&action=sacdesign

[Sparky]

They won't be stupid if the other party in the transaction accepts them.

[JohnQPublic]

...Lemme try one more time please. During the actual disintegration phase we will hunker down and avoid the zombie circus altogether. Once the dust settles no store clerk is gonna read the date on our silver dime and consider it "worth" more than ten cents. Hungry people will be annoyed standing in the checkout line behind us as we attempt to negotiate the daily Kitco price of our precious silver dime. Once the dust settles there will be martial law and new paper money and our new Local Authority will control all grocery store transactions. If you want to transact normal business then you will be forced to use their new legal tender. Junk silver coins like this precious silver dime will be exchanged only at black market flea markets via common barter:

<image removed>

I don't own one silver coin. I think it silly for practical reasons as an accepted medium of exchange wtshtf. I do own AGEs and think them practical now and after the dust settles IMHO.

:)


I respectfully disagree. No one needs to read dates. Grab a stack, and look at the edge.

I don't disagree with the AGEs, though. I belivee in diversification ;D !

On the other hand, try and get change for a couple of sodas or a cheap meal from the smallest AGE!