New Coin?

[Go Devil]

Just throwing out a topic for discussion here for any economists/sociologists who might be browsing.

I am aware of the large number of historic coins (minted before the 35') floating around in the current market, not to mention the availability of Golden Eagles.

What would be the nessesary cornerstone in operating in this form "Gold Standard" curency? ...Banking Laws? Availability? Culture?...

Once again, I've never thought much about this, but have been reading some William Gibson futurist stuff ( Burning Chrome) and this form of currency was popular among the "Proles" in his story. Illuding to the fact that the they operated "around" the organized currency in their period (which is fantasy).

The idea of what the value of our dollar is about to become makes a black market mentality kind of fester (at least in the back of my brain).

Can someone smarter than me expound on this?

GD

 

[Flintlock]

I don't really understand what you are asking. Are you trying to ask about if it is feasible to revert to the gold or silver standard and the ramifications for doing so?

 

[Go Devil]

Yes.

I understand that this is something that would probably not work on a large scale due to the amount in circulation.

Just looking to spur some discourse on the subject.

Feel free to move this topic to distaster preparedness if that would be a better location.

 

[CarmelHP]

Yes.

/quote]

It was an either/or question. "Yes" is not responsive, please clarify.

 

[Go Devil]

Gold or Silver, I am interested in both.

I am aware that the the majority of coins minted before the date I noted previously are Silver (.777...) and would be more readily available to a larger number of people.

The use of gold coins could be a bit more dificult without the local blacksmith to cut them into "bits" (if history serves me correctly)for lesser valued items.

I guess what I am looking for is the use of a legal currency that carries a legitimate value instead of a fluctuating valued paper that has the ability to become worthless due to printing presses.

Now my ignorance is showing and yes, maybe I am being lazy, but my Google-Fu is a little weak this week.

 

[CarmelHP]

Pre-64 silver coins are 90% pure. You can use whatever item of value you want as a currency as long as someone agrees to take it. Gold is soft enough that you don't need a blacksmith, but I think you're getting ahead of yourself.

Gold or Silver, I am interested in both.

I am aware that the the majority of coins minted before the date I noted previously are Silver (.777...) and would be more readily available to a larger number of people.

The use of gold coins could be a bit more dificult without the local blacksmith to cut them into "bits" (if history serves me correctly)for lesser valued items.

I guess what I am looking for is the use of a legal currency that carries a legitimate value instead of a fluctuating valued paper that has the ability to become worthless due to printing presses.

Now my ignorance is showing and yes, maybe I am being lazy, but my Google-Fu is a little weak this week.

 

[Go Devil]

Pre-64 silver coins are 90% pure. You can use whatever item of value you want as a currency as long as someone agrees to take it. Gold is soft enough that you don't need a blacksmith, but I think you're getting ahead of yourself.[/quote]

Oh no, I'm already set up for that and if any one has old files or leaf springs they want to get rid of, let me know.

On a serious note, I am aware that soon our wallets wont be able to hold enough paper currency to buy eggs, milk, and bread, hence my thoughts on using old currency that is actually made of silver and gold.
And, since people are investing in precious metals, this got my wheels rolling.

Tangibles and bartering: I've been into that for along time, but still have a few debts to pay and understand that I always will need some form of currency; I just don't like the current look of the future.

Any other scenarios?