How do you plan to break your gold down into small change?

Discussion in 'Money, Investing & Precious Metals' started by keepitlow, Aug 25, 2010.

  1. keepitlow

    keepitlow Well-Known Member

    Gold or diamonds are great for loading up a backpack with some of your wealth...but you still have to break it down to use it for everyday purchases.

    Here is a thread on 90% silver. We discuss the benefits of newer vs older 90% coins for barter and the problems of using gold for barter

    Silver Bags See New Demand

    Lets say we do shop in 'barter town' after the SHTF as one member in that threads brings up. If someone came up to you with a 1 oz gold coin to break down into small change 90% silver and gold was $4000 an oz and silver was $100 an oz ...what sort of deal would you do...if any?


    If SHTF and it was a barter town world...I would not trade even if he traded gold at 1/3 of spot.

    Now If I knew some guy that would take the gold in for 50% of spot in trade for 90% silver I may speculate at 25% of spot for the gold...but that is about it.

    I would have no use for it in barter town since I could not use it for small purchases. We can see this same concept now with the signs that say no $50 or $100 bills accepted. It will be no different with gold if SHTF.

    Gold is good for land or big buys, but I got all I need and many times more with big ticket items. As the saying goes..two is one and one is none. So I have many duplicates of things that count.

    Maybe gold will be useful to pay a dentist for a root canal or a doctor to do surgery in his / her office? It can buy a vehicle if you can get the fuel for it. A gun?

    What other big ticket item will gold buy if and when SHTF?

    More important...How do you plan to break your gold down into small change?
  2. Emerald

    Emerald Well-Known Member

    Me myself I am not gonna waste my time hoarding gold for after the SHTF world-I got some mean skills that will probably come in handy. Plus in my area-fishhook just might be worth more!;)
    BUT If I was gonna get some gold I would try buying nice big link stamped necklace gold-just think you get the chain with the stamped type of gold it is on it and then take off and barter with individual links like they used to in the old days. The big heavy link chains of gold that are being found in shipwrecks off the Florida coast were not just for looking pretty they were used as currency- I'm sure that most folks who are gonna be into using gold as currency will have scales and be able to know how many links are worth how much. But if you have them made to order-get them to stamp each big link on the inside or keep the end with the stamp mark and then sell off the other end.

  3. UncleJoe

    UncleJoe Well-Known Member

    :2thumb: :beercheer:
  4. Diego2112

    Diego2112 Well-Known Member

    As far as bartering, I'm stocking up on ammo and tobacco, in addition to the fact that I'm a pretty decent hand at building houses/waterwheels, etc, and should be getting some "oldschool" smithing under my belt here SOON.

    As far as GOLD coins, easy man, easy. Cut 'em into eight pieces of, ya know? :D I KNEW I would have to bring this up one day, Pirates had the right idea, SCREW NINJAS! :2thumb:

    But seriously, if you buy gold coins (I cannot say "gold coins" without thinking of SNLs Scrooge McDuck skit!), cut 'em into fractions for smaller purchases, or like Emerald said, get a necklace/chain/something.

    Really though, in MY area, gold'll get you nowhere FAST. Yeah, it's got vaule right now, but really, when :shtf:, who wants MONEY? The preppers I know want food, ammo, and good old toby! The ONE prepper I DO know that's stocking precious metal is doing Silver Bullion coins. Cheaper than gold, and will be more effective in the long run for smaller purchases.
  5. Jerry D Young

    Jerry D Young Well-Known Member

    I plan on using 1/10 ounce Gold Eagles for the medium stuff. In your example, with gold @ $4,000 per ounce that's about $400.00 dollars. If that isn't close enough, 1 ounce Silver Eagles (in your example $100.00). To break it down further, pre-1965 silver quarters for appx $18.00 (0.18oz) and then dimes (0.072oz)for appx $7.20 each.

    Then, if I could get others to go with it, one dollar coins still a dollar. If not, some small things for the final small change, such as .22LR rounds, peppermint or butterscotch candies.

    Just my thoughts on the matter.
  6. Sourdough

    Sourdough ExCommunicated

    My property is full of GOLD, so if I need a set amount I just go rake it up, and leave the rest.
  7. kyhoti

    kyhoti Member

    Speaking of "making change" with PM's, is a small postal scale accurate enough to give good weights on Ag/Au? I have a crap-ton of marked sterling rings (.925) that weigh near two 25-cent pieces ( i used to wear alot of rings in my youth); would the .925 stamp be trusted for PM content (or the 14K on gold for that matter?) I liken it to the Viking money-jewelry commonly known as "hack-silver"; it's not the best way to have PMs, but it's what I already have.