will the change be any good

[Beau]

.
if TSHTF will the money nonsilver Halves, quarters, Dimes, nickels, pennies be

worth anything.

I know the paper we are printing will be no good, with a Dollar collapse.

the bureau of printing and engraving is separate, from the mint that makes coins.

just a question, because I don`t know.

I think would go down with the Dollar, and be useless too.

would we have to wait until the mint made more coins, which would take a long

time, would we wait on the paper money to be printed with Obamers picture on it.

anyone know what will happen ?



.

[billo]

Worth cost of the metal, just like silver and gold, why not copper, nickel, zinc, and tin the same. People who know silver will know the rest. IMHO.

[JJM]

The precedent for base metal coinage in a hyperinflationary environment is a good one. When you add a zero to the paper money, the fractional coins move a decimal point too. So if you're suddenly needing $10 to buy what $1 did before, your .50 piece is now worth $5. At least that's the way it worked in Argentina, other places too from what I recall reading. Coins do well, paper money does poorly.

[Beau]

The precedent for base metal coinage in a hyperinflationary environment is a good one. When you add a zero to the paper money, the fractional coins move a decimal point too. So if you're suddenly needing $10 to buy what $1 did before, your .50 piece is now worth $5. At least that's the way it worked in Argentina, other places too from what I recall reading. Coins do well, paper money does poorly.

.
is the .50 piece after TSHTF worth 5 cents or $5.00

if it is worth $5.00 why is everyone searching halves and then dumpining them

back at the bank.

.

[Rosco]

Hooray my Wife's State quarters are now a keeper

Have been keeping 5 cents but only buying 4.00 at time or from change.

Would Ike's $1.00 be worth more??

[beauanderos]

The precedent for base metal coinage in a hyperinflationary environment is a good one. When you add a zero to the paper money, the fractional coins move a decimal point too. So if you're suddenly needing $10 to buy what $1 did before, your .50 piece is now worth $5. At least that's the way it worked in Argentina, other places too from what I recall reading. Coins do well, paper money does poorly.

.
is the .50 piece after TSHTF worth 5 cents or $5.00

if it is worth $5.00 why is everyone searching halves and then dumpining them

back at the bank.

.

Because silver is still a better store of value than clads. However, clads are a better store of value than paper. If you are a roll hunter, hang onto your coin until the very last minute each week before you convert back into currency and again into coin, and you'll ensure the protective element we presuppose if you do so. We've had this discussion in other threads before, and I'm in a minority in believing that coin will outvalue paper when a devaluation occurs (soon), but I'm not harming anyone by my faith in metal above paper... it's just a bit cumbersome to keep so much clad and zinc laying around most of the time instead of quickly cashing it back in. Oh, well, my inconvenience could very well equal my preservation of purchasing power, as compared to dramatic loss, if I'm right.

[beauanderos]

Ike's and Susan's are not fractionals, and would likely represent the losses incurred by a devaluation at par

[JJM]

The precedent for base metal coinage in a hyperinflationary environment is a good one. When you add a zero to the paper money, the fractional coins move a decimal point too. So if you're suddenly needing $10 to buy what $1 did before, your .50 piece is now worth $5. At least that's the way it worked in Argentina, other places too from what I recall reading. Coins do well, paper money does poorly.

.
is the .50 piece after TSHTF worth 5 cents or $5.00

if it is worth $5.00 why is everyone searching halves and then dumpining them

back at the bank.

.

x2 to beauanderos

It's not really worth $5, I should have worded that differently. A better way to say it is that it's then worth 1/2 of whatever the "base" unit of trade becomes. Use a can of coke in a convenience store as an example. Say it costs $1 now, for a 12 oz. can. After TSHTF, let's say it then costs $10 due to hyperinflation. Two .50 pieces should still buy it. I wouldn't say the .50 piece is now worth $5 however, but some people would look at it that way.

The historical precedent of people preferring (and rewarding) coin over paper is a solid one in these types of events, it's unlikely that our experience, if it happens, will be any different. Probably related to some historical memory artifact, people remember that paper money used to represent metal, and even though our currency has been debased, everyone knows that metal is more expensive and worth more than paper, in most applications.

I suppose most people dump their halves so they can turn them over for more halves. If you believe TEOTWAWKI is coming, you're better off having $10K in silver, than $10K in clad halves, most people that CRH act accordingly regardless of their motives for doing so.

With that said, if you're doing CRH, i agree with the above poster, I keep the dump coins around as long as possible. Usually about $1K in change on any given week. I believe this is sound monetary policy - from several perspectives. It's a good emergency fund, if needed. If TSHTF, there's a good chance that it will maintain its purchasing power, unlike paper money. It's harder for a thief to steal, and easier to track if they do. Lastly, if you're a spendthrift or just trying hard to practice thrift, it's harder to spend on a whim. There are several advantages to having coinage on hand, and if TSHTF, I believe it will be a wise move, far superior to keeping anything in the bank.

I wouldn't recommend people go "all in" in clad US coinage, but having some around at all times will likely prove to be an excellent idea. Zincs should do well do to the inflated price of their base metal, nickels too. Copper cents are already a no-brainer b/c of this. Halves will be nice b/c they're fairly uncommon, they're not making that many more of them, and the potential "ROI", if that's the proper term for this type of event, is huge.

[beauanderos]

To add to JJM's comments, I believe a revaluation of the dollar is in the works soon. To do so would likely entail a "banking holiday" to prevent people at the last minute from rushing to the bank to deplete their currency on hand in an effort to convert it to some form of real money. So, first... fiat is dying, second... do you really trust the banks?, third... is your bank fiscally sound, or does it face jeopardy from immense derivatives exposure?, fourth... given these premises... why would you keep any more than the minimum in cash in the banks to pay bills?, fifth... a small amount of cash perhaps should be kept outside the banks for necessary transactions (food, gas)... but the remainder should be in coin, sixth... if that remainder is too large, it should be converted to silver and gold (or palladium and platinum if you so prefer). NOW THEN... listen up, folks. STOP thinking about "investing" in silver and gold for profit, and realize that you need to literally SAVE your money in those forms, and forget about fiat. If you learn to do that, you'll be way ahead of the game. If you start doing that, you can stop worrying about the current value of silver or gold and just consider "I have some extra cash again, and I need to convert it to real money." Otherwise, you're holding onto paper nitroglycerin, waiting for a pullback to "get a deal" when the currency you are waiting in could detonate at any moment to become worthless confetti. And WHEN that happens precious metals (and base) will explode in price to the upside. Wake up and stop "investing," and start saving your money in a real form.

[PreservingThePast]

There were many on the old site that didn't seem to make the transition to this new place that absolutely believed in and advocated hanging on to every single piece of coinage that crossed their fingers. Their reasoning was for the situation many are discussing on here.

[Beau]

.
I can`t get halves to search here at any bank.
I have tried at 20 different banks which are within a 50 mile radius of where I live.
I think I need to start saving the change I get, but I can`t get enough for what I need.
I have accounts at more than one bank but they do not let much change out.

.

[BOHICA]

Over the years I've either been to or read about many countries whose economies have collapsed or been severely crippled. One thing in common with every one of them was that all coins maintained their value when the paper was absolutely worthless.

I spent three months in Somalia in 92-93 and could literally pick up bank wrapped bundles of every denomination of currency laying in the gutters. I was only able to acquire 7 coins during that whole time and I had to trade for them. Look at all of the other countries that have had economic problems and they all have severe shortages of coins (i.e. Argentina, Zimbabwe, Philippines, Mumbai) because everyone hoardes them for public transport and other things that require coins. All metal coins have some value whereas paper fiat ain't even useful as toilet paper.

I keep all of my change until I have $1000 and then I cash it in and use the money to buy PM's. I think my next purchase of PM's will be of the copper jacketed lead variety.

[aristobolus]

It seems to me that in this scenario the U.S. nickel is the best non-silver coin to hang onto; currently it is worth 6.258 cents in nickel. It would be interesting in the aforementioned situations such as Somalia as to what the local coin was worth in compotition in comparison to their monetary dollar/unit of measure. Was the value of these coins due to its intrinsic value in tin, copper, nickel or the like; or was it simply because it was more durable in "feel" than paper?

[rainsonme]

I know very little, but I am told the mexican coins I recieve mixed in with US, are all worthless, becuase they were "old peso's", and became worthless when the new currency came into existance. IF the US dollar were re-issued as new dollars, I think they would get the coins too ---- there are billions of these coins out there, and I think they would convert them as well. Of course, coins with an intrinsic value like the pre-1982 penny, or the current nickle, would hold or increase in value.

There are a lot of ways for the US to devalue the dollar without an offical re-issue. This is going on now, and looks like it will continue at a steady pace.

As the world global currency, it would be tough to exchange the dollar for a new dollar ---- when 3rd world nations do it, it just affects the locals. But while the US dollar is the world currency, it is tough to re-issue it.

If there is to be a major change in the US currency, they will try like all heck to postpone it until just after the presidential election. I think the US dollar will decline with a long wimper, not a big bang, but we'll see. Either way, it would be good to hold a lot more silver, gold, copper, nickle, and other alternatives to a declining (or dying?) dollar.

[BOHICA]

It seems to me that in this scenario the U.S. nickel is the best non-silver coin to hang onto; currently it is worth 6.258 cents in nickel. It would be interesting in the aforementioned situations such as Somalia as to what the local coin was worth in compotition in comparison to their monetary dollar/unit of measure. Was the value of these coins due to its intrinsic value in tin, copper, nickel or the like; or was it simply because it was more durable in "feel" than paper?

They coins maintained some sort of value where the largest denominations of fiat were literally thrown in the gutters in plastic wrapped bundles. On patrols, we would pick up a bundle each and then split them up back at camp. I used to send one of each bill to the scholl kids that wrote us letters. I still have a half dozen of ezch one.

[Beau]

THANKS Guys And Gals

for the answer to my questions.

I have been looking for this post and I just now found it.

I have a lot of the presidential dollars, but I guess they will be no good for this

either, so back to the bank they go.

I don`t keep much change, but I will keep a little more now.

I do buy silver with the extra money I have, but there is not enough silver to buy

now. no one seems to be selling except Ebay, and most sellers on Ebay are crooks,

they want twice what the silver coins are worth.

THANKS AGAIN
Beau

[justoneguy]

Dang, i have kept 500 ikes for this very reason.
looks like it's time to try and get halves in their place

[Rosco]

I keep the Ike's I get an now will build up A couple of hundred Half's

Traded in a bunch of 40% for bullion they Low-balled on buying the 40 % almost a dollar but now have 5 one oz bars sealed in plastic
Now plan to keep 40% in their own bag

[billo]

I spent three months in Somalia in 92-93 and could literally pick up bank wrapped bundles of every denomination of currency laying in the gutters. I was only able to acquire 7 coins during that whole time and I had to trade for them. Look at all of the other countries that have had economic problems and they all have severe shortages of coins (i.e. Argentina, Zimbabwe, Philippines, Mumbai) because everyone hoardes them for public transport and other things that require coins. All metal coins have some value whereas paper fiat ain't even useful as toilet paper.

Thanks for sharing that, useful to know. For USA then practical value could potentially depend on at least three separate factors: real value (those who know), perceived (those who don't), and situational (what it can do).

[dougefresh]

To add to JJM's comments, I believe a revaluation of the dollar is in the works soon. To do so would likely entail a "banking holiday" to prevent people at the last minute from rushing to the bank to deplete their currency on hand in an effort to convert it to some form of real money. So, first... fiat is dying, second... do you really trust the banks?, third... is your bank fiscally sound, or does it face jeopardy from immense derivatives exposure?, fourth... given these premises... why would you keep any more than the minimum in cash in the banks to pay bills?, fifth... a small amount of cash perhaps should be kept outside the banks for necessary transactions (food, gas)... but the remainder should be in coin, sixth... if that remainder is too large, it should be converted to silver and gold (or palladium and platinum if you so prefer). NOW THEN... listen up, folks. STOP thinking about "investing" in silver and gold for profit, and realize that you need to literally SAVE your money in those forms, and forget about fiat. If you learn to do that, you'll be way ahead of the game. If you start doing that, you can stop worrying about the current value of silver or gold and just consider "I have some extra cash again, and I need to convert it to real money." Otherwise, you're holding onto paper nitroglycerin, waiting for a pullback to "get a deal" when the currency you are waiting in could detonate at any moment to become worthless confetti. And WHEN that happens precious metals (and base) will explode in price to the upside. Wake up and stop "investing," and start saving your money in a real form.

Good explanation. Buying silver is not spending "money". You are exchanging currency for real money.

[AGgressive Metal]

I don't see that in most hyper-inflations that non-PM coins hold any value other than melt. This idea that they will be officially re-valued is silly - the US government has never revalued ANY coin EVER (other than de-monetizing the Trade Dollar from the 1870s). A half-cent from 1820 is still legally only worth one half cent face value, just like silver dollars are still legal tender for one dollar. More than likely they will just make higher denomination coins and the old ones will fall from use or get melted. Most countries with hyper-inflation simply keep making higher denomination coins, not relying on revaluing existing coin stock.