If hyperinflation ever occurs, the copper penny will

[scotto]

Please finish my sentence. I'm curious what we think.



Also, if hyperinflation were to occur in the US, wouldn't all coinage ( dimes,quarters, halves, zincolns) become worth many multiples of face value. Why not hoard it all? No need to dump.

[shinnosuke]

...the copper penny, having already been replaced or eliminated as legal tender will be used in black markets and as a item for barter.

Yes, all coins will become worth more, much more, especially when compared to their cousins, the FRNs, which will eventually be used as toilet paper. The reason we don't hoard the clad coins and zincolns now is because we are in the enviable position of having the knowledge that the Federal Reserve has perpetrated the largest fraud in history in devaluing the US currency. This knowledge leads us to trade our unbacked FRNs for as much Au & Ag as possible as quickly as possible.

[VWBEAMER]

buy now what cost 10 cents.....so 25 coppers will get a loaf of bread. The FRN price will 10 bucks.

[VWBEAMER]

Like...

...the copper penny, having already been replaced or eliminated as legal tender will be used in black markets and as a item for barter.

Yes, all coins will become worth more, much more, especially when compared to their cousins, the FRNs, which will eventually be used as toilet paper. The reason we don't hoard the clad coins and zincolns now is because we are in the enviable position of having the knowledge that the Federal Reserve has perpetrated the largest fraud in history in devaluing the US currency. This knowledge leads us to trade our unbacked FRNs for as much Au & Ag as possible as quickly as possible.

[tinhorn]

Why not hoard it all? No need to dump.

Some guys are doing that. But me, I look at the hundred dollars in zinc from last night's sorting, and know that if I take it to the bank, I can end up with $73 in zinc worth $73 plus $27 in copper worth $78.50.

[timmus0382]

will be pulled out of circulation by the government, who will then melt them and sell the pure copper to China and other growing nations. Copper will be approximately $8.23 per pound and our "crazy investment" will be exponentially more profitable.

[CuNation1]

Now if it goes up even higher to $13.16 per pound, that would be a dollar a troy ounce. That would really be something. 8.68 cents per each cent.

[CrazyTom]

be made illegal to hold, along with gold, silver, food, guns and ammo.

Hoarders will be labeled "unpatriotic" and blamed for shortages and escalating prices.

Rewards will be given to those who sniff out hoarders and turn them in. Part of the hoard will
be given to the snitch as payment. The lion's share will go to bureaucrats for "fair distribution"
to the unprepared sheeple, (minus the bulk that bureaucrats keep for themselves).

[VWBEAMER]

LOL, not sure if you joking or not, but I could see this happening.....

be made illegal to hold, along with gold, silver, food, guns and ammo.

Hoarders will be labeled "unpatriotic" and blamed for shortages and escalating prices.

Rewards will be given to those who sniff out hoarders and turn them in. Part of the hoard will
be given to the snitch as payment. The lion's share will go to bureaucrats for "fair distribution"
to the unprepared sheeple, (minus the bulk that bureaucrats keep for themselves).

[NickelExpress]

be made illegal to hold, along with gold, silver, food, guns and ammo.

Hoarders will be labeled "unpatriotic" and blamed for shortages and escalating prices.

Rewards will be given to those who sniff out hoarders and turn them in. Part of the hoard will
be given to the snitch as payment. The lion's share will go to bureaucrats for "fair distribution"
to the unprepared sheeple, (minus the bulk that bureaucrats keep for themselves).

Rewards can only be given to those who sniff out hoarders, and return the information. So remember to live in the country, befriend your local law enforcement officer. Perhaps feed him some homegrown bacon now and then, and he will not search your house\property too carefully during the routine home searches or question what you sometimes feed your pigs....and if he does...remember to remove the RIFD tag from his shoulder before he becomes hog chow.

[Tommybee]

I don't think we are going to see a complete societal breakdown, but if we do, Crazy Tom is right. Those of us who have prepared ourselves will be labelled as unpatriotic hoarders who wanted/expected to become rich off the misery of others. As a result, our metals will be seized.

[shinnosuke]

I don't think we are going to see a complete societal breakdown, but if we do, Crazy Tom is right. Those of us who have prepared ourselves will be labelled as unpatriotic hoarders who wanted/expected to become rich off the misery of others. As a result, our metals will be seized.

Then if I am already a "criminal" I will unilaterally decide which metal I give up first. Uh, let's see, here...you can have these little pieces of Pb nicely encased in a covering of Cu...they come in convenient diameters of 0.44 inches and they are able to travel a surprisingly fast speeds.

[Mossy]

Those of us who have prepared ourselves will be labelled as unpatriotic hoarders who wanted/expected to become rich off the misery of others. As a result, our metals will be seized.

True. That's the usual way for those in power to retain power and gain wealth in times of trouble. We could be made scapegoats for whatever bad happened (it need not be caused by humans, it could be an "act of god", or whatever). In addition, as was mentioned, the "reward", which buys allegience to the bandit chieften.

[madcow]

... become an increasingly important from of payment for every day small purchases. If the dollar tanks and gold and silver rise to $3000 and $100 per oz respectively, I'm going to be hard pressed to let go of my PM to buy bread, eggs and milk. I think gold and silver will serve their purpose as a storehouse for wealth (and barter for large purchases), but the typical CU penny will become the work horse for an interim economy with 10-25 cents in buying power.

[Mossy]

but the typical CU penny will become the work horse for an interim economy with 10-25 cents in buying power.

As may be. I had to move a bag of $1000 face silver on foot a mere 3 miles and it like to'a kilt me. There at the end, I was making about 100 yards between rest stops. (I carried up to 150lbs for many miles, back about 40 years ago. Don't think you can do now what you did "back then". You cannot.) I traded it for gold at 45:1, and have no problem with the ratio dropping. At least I can carry the blasted gold and "a ham sandwich". I'll be looking for small lots of silver and "small gold" later, when I get a few things squared away, but no more 70# bags. Okay, I had 10# of handguns in the pack, as well, but "77# total wt"? What a wimp.

Intended strategy? Like Don Stott suggests: Want to buy something? Sell one big value item at a time.

One thing for sure, I plan to get both a scale and a set of Fisch coin gauges.

[Copper Catcher]

Will be harder to fine!

[shinnosuke]

but the typical CU penny will become the work horse for an interim economy with 10-25 cents in buying power.

As may be. I had to move a bag of $1000 face silver on foot a mere 3 miles and it like to'a kilt me. There at the end, I was making about 100 yards between rest stops. (I carried up to 150lbs for many miles, back about 40 years ago. Don't think you can do now what you did "back then". You cannot.) I traded it for gold at 45:1, and have no problem with the ratio dropping. At least I can carry the blasted gold and "a ham sandwich". I'll be looking for small lots of silver and "small gold" later, when I get a few things squared away, but no more 70# bags. Okay, I had 10# of handguns in the pack, as well, but "77# total wt"? What a wimp.

Intended strategy? Like Don Stott suggests: Want to buy something? Sell one big value item at a time.

One thing for sure, I plan to get both a scale and a set of Fisch coin gauges.

Mossy, that was one fine post. I really chuckled at several of your comments as I read along, but the "ham sandwich" part made me laugh out loud. My spousal unit even asked what's up. We definitely aren't as young as we used to be. I can still remember kicking tree limbs 8 feet high if I had a little runway, but not any more...

But back to the mighty penny. It will reign supreme again someday as the coin youngsters will want to get their hands on, just like when I was a kid.

[VWBEAMER]

The meek will inherit the economy...something, something...?

and to think, ya can get 100 for a 1 dollar FRN and a few minutes of sorting...

[drofdrugs]

Be worth its weight in copper? At least we all hope so.

[CrazyTom]

I don't think we are going to see a complete societal breakdown, but if we do, Crazy Tom is right. Those of us who have prepared ourselves will be labelled as unpatriotic hoarders who wanted/expected to become rich off the misery of others. As a result, our metals will be seized.

Thank you for the nice endorsement.

Seizure is standard operating procedure already. House in the way of a new stadium? No problem, sniveling bureaucrats will condemn it for the "public good". Of course, your good is expendable.

Nazi Germany taught the young to rat on their parents. It's all coming back around.

Keep a low profile.........