Don't forget about your finances

[Mick Boon]

Looks good . The only problem I have with palladium is that it's a small market and not understood by many.

[Mozart]

Mick may not be able to stop it, but I sure can.

LoL Get rekt. Nicely done.

Here’s my take in case anyone cares:

The only scenarios where storing precious metals is wise: 1) for good times, as a inflation-resistant method of saving your money, and 2) for emergency circumstances, protection against a currency crisis, wherein your currency is worthless. But Commodities are more useful DURING a crisis. Precious Metals (PMs) are more useful AFTER a crisis.

Those who pointed out that if ammo, TP, fuel, food, tools, spare parts, whatever, are in short supply, I doubt we’d find very many people willing to except PMs in exchange (unless they had far more items than they need and are getting a killer deal on the PMs in trade I.e. 100 rnds of 9mm for a 1oz Gold sovereign. If I had a couple thousand rounds, I’d make that trade, f#ck yeah.

After things start stabilizing, but prior to any new official currency bring established, yes, you’d probably see people using PM coinage as money for a bit. Barter would still be very popular, it’s just harder to make deals that way.

[SeriousStudent]

LoL Get rekt. Nicely done.

.....

Mick won't be back.

And I do take care of my finances. I always tip my bartender and barber at least 20 percent.

[Caduceus]

That's a nice amount of chocolate that the OP has.

I've never understood the "gold! gold!" (Scrooge McDuck voice) mentality. Sure, I get the reason behind it, but still. Even silver I'm leery of. I have a few silver dollars, and my dad recently gifted my kids a 1oz gold coin each. So, I'm not going out of my way to acquire it.

But, if you're looking at using this as a wealth retainment strategy .... what's the deal? If the situation is so bad that we're back to gold, what makes people think that Canadian maples, or Krugerands, or American Eagles will be accepted? Gold bars from random places? How do you plan to convert gold into the 'new' currency? I'm not sure anyone's going to know how to check gold content and convert that over, in a way that's advantageous to the person getting rid of the gold. People don't think that their 1oz coin that cost $1k is going to be sold back at that same $1k, do they?

Finally, in that hypothetical SHTF scenario, wouldn't small amounts be better than large? Why drop a 1oz coin when a 1/10 oz coin will do?