Why keep currents coins....... from TB-2000....... V

[Ponce]

I glad to see that people are now on line with what I have been saying for many years..... please get in line.
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anyone see a need/compelling reason to keep current us coin in their preps
If we don't have a complete collapse, and more like the one that they had in Argentina in the early 2000s, then pocket change could be a winner. In Argentina during those years of turmoil base coinage was valued and hoarded by the population, according to FerFAL. It was for two reasons. It was more tangible than paper. And it was not devalued when the paper currency was changed. In other words, your quarter would retain its purchasing power better than a paper dollar that you would have to turn in for new dollars.

Put in another way, your quarter would not suddenly be worth 2.5 cents whereas your paper dollar would suddenly be worth 10 cents.


I've long had the habit of throwing any and all pocket change into a small wooden bowl - when that filled, I'd transfer it to a gallon can, roll it, and exchange the coin for folding federal reserve units at the bank.

well its that time again - but I'm wondering if there is anyone here who might have a compelling reason to hold on to the stuff. so the real question is:

what possible use(s) would currently circulated coinage have in a post SHTF world?
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Throughout history, coins have always been a good thing to have on hand. When the paper fails, people (general public) are under the impression that "metal", compared to paper money, is still actually worth something and they will take it in barter/exchange. Eventually the GDP (Generally Dumb Public) will realize that the coins are just junk metal and it will fail also. But in the meantime, hang on to a few rolls of halves, quarters, dimes and nickles. Pennies...not so much, unless they're real copper. It might help you get down the road a bit and be useful for a while.
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If we don't have a complete collapse, and more like the one that they had in Argentina in the early 2000s, then pocket change could be a winner. In Argentina during those years of turmoil base coinage was valued and hoarded by the population, according to FerFAL. It was for two reasons. It was more tangible than paper. And it was not devalued when the paper currency was changed. In other words, your quarter would retain its purchasing power better than a paper dollar that you would have to turn in for new dollars.

Put in another way, your quarter would not suddenly be worth 2.5 cents whereas your paper dollar would suddenly be worth 10 cents
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One more point: My youngest son and his wife were in Greece last summer, during the height of the financial crisis. They found that shopkeepers, etc were DESPERATE for "coins". Given the choice of a 20 Euro note or less than ONE Euro in coins for a purchase worth around 7 Euros, they took the coins! I found that interesting...
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There is also a possibility that if the dollar is replaced with a different (devalued) currency that they will continue to use the same existing coins as it would be easier and cheaper to do it that way. If so then you would get way more value out of the coins. Of course this is all speculation.
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A LOT MORE AT TB-2000

[madfranks]

In Argentina during those years of turmoil base coinage was valued and hoarded by the population, according to FerFAL. It was for two reasons. It was more tangible than paper. And it was not devalued when the paper currency was changed.

First, what makes you or anyone else think that this will be the case if the USD is devalued?

Second, by what mechanism will the USD be suddenly devalued? The USD is a floating currency, it is not pegged to anything, and thus cannot be arbitrarily changed over night, contrary to many other countries' currencies which are pegged to other currencies and can just be changed.

[JohnQPublic]

The only current coinage I keep is nickels, as they are the only coin that currently contains metal worth close to (and occasionally a bit more than) its dollar value. I filter them out and drop them into a large plastic jar (plus I have bought a number of rolls also). You cannot lose because they will always be worth 5 cents, and likely in the future, more. Dimes and quarters are better to spend (though I have a bunch that are piling up).

[madfranks]

Agree - nickels are a great bet because their metal value is the closest to their current face value. Zinc cents, clad dimes and quarters though, not so much.

[gunDriller]

The only current coinage I keep is nickels, as they are the only coin that currently contains metal worth close to (and occasionally a bit more than) its dollar value. I filter them out and drop them into a large plastic jar (plus I have bought a number of rolls also). You cannot lose because they will always be worth 5 cents, and likely in the future, more. Dimes and quarters are better to spend (though I have a bunch that are piling up).

They are comparable to a silver dime in 1964 - and that worked out well.

I was one of those kids that saved silver in the mid-60's - and that helped pay for college in the late 70's. In fact the silver price was peaking just as my other financial aid was decreasing - which was convenient.


However, nickel is an industrial metal. It seems like where things are going, as a long term trend, is to have less industry.

[palani]

they will always be worth 5 cents

A Jefferson is always going to be worth 1/20th of a Washington.

It seems Lincoln is valued significantly less.

[JohnQPublic]

However, nickel is an industrial metal. It seems like where things are going, as a long term trend, is to have less industry.

That MAY be true in the US (and I think this could reverse), but not worldwide, and nickel as any other commodity is a worldwide market.

[Ponce]

Time will tell.....and what will happen will happen because it has to happen........will sea shells be the new mode of exchange once again? or will tulips be the ones?....... we will have coins instead..... The value of anything is the value that we give them "as an individual", and not the value that others give them.....I read a while ago that two million dollars was paid for an old penny.

V

[palani]

In a SHTF situation be prepared ... buy a bunch of gold colored wedding rings for a buck each. When you are looking hungry go into a store and pick up a loaf of bread and a can of spam. When the clerk demands your money you pull off a ring, tell him your wife will kill you but that this is all you have for the food. Don't attempt the same trick twice in the same store.

Seems to me I heard this approach from a guy who was writing about the Argentina collapse.

[Ponce]

I never give up............. V

Folks, everybody seems to be all prepared for runaway INFLATION, but are totally screwed as far as prepping for DEFLATION, which is the immediate reality BANKERS NIGHTMARE looming in the nearest future, long before the bankers can find a way to reimpose a successful, sustainable inflation based economy.

Beg, borrow, save or steal a few wheelbarrows worth of CHANGE in COINS to prepare for deflation! If not, you will pay a buck for what only costs 10cents in a depression, for lack of change!
Prices MUST follow WAGES, sooner or later!

THAT is why the "powers that be" did not immediately crush the $15 minimum wage movement! They hate paying more wages, but are desperate, hoping to find a way to reinstitute an inflation based economy. It is exactly like "heliocopter dropping money" on the sheeple. The bankers know DEFLATION is taking hold. ............ TB-2000