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JerrySpringer
Penny Hoarding Member
669 Posts |
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G Powerbuck
Penny Collector Member
USA
256 Posts |
 Posted - 06/14/2009 : 14:19:04
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Wow! That's cool. In the near future everyone is going to start wearing coin pouches on their belts again . |
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 06/14/2009 : 14:29:59
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Last year there was a gas station in Oregon that accepted silver as payment for gas...
You must be logged in to see this link. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/14/2009 : 14:52:31
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Neat!
I thought it was interesting that the guy weighing the silver coins went for the 90% dimes.
Do you think a big grocery store could ever convert your silver into goods for purchase? I can envision a big long line at the exchange window when you get your silver coins weighed. What would the grocery store chain do with the silver coins as they accumulated? Brinks and Dunbar guys with guns - here they come. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 06/14/2009 15:56:39 |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/14/2009 : 15:06:01
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| Wouldn't it have been easier if he had a junk silver calculator? His method was rather time consuming. |
Trolling is an art. |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 06/14/2009 : 15:37:50
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| I wonder what war nickels would get in groceries? |
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 06/14/2009 : 16:07:37
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quote:
Neat!
I thought it was interesting that the guy weighing the silver coins went for the 90% dimes.
Do you think a big grocery store could ever convert your silver into goods for purchase? I can envision a big long line at the exchange window when you get your silver coins weighed. What would the grocery store chain do with the silver coins as they accumulated? Brinks and Dunbar guys with guns - here they come.
I think in this economy, any store that said it would convert junk silver into food or goods would get a huge line at the door. Tell someone that their 1964 Kennedy half dollar would get them two gallons of gasoline and I bet you'd see a line at that gas station. Tell them that their silver dime could get them a 2 liter bottle of Coca Cola and they'd jump at it. Any company that wants free publicity could start offering some simple barter like that. |
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L1011
Penny Collector Member
310 Posts |
Posted - 06/14/2009 : 22:50:35
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| Do you think it'd drive up the prices of groceries somewhat? |
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Nickelless
Administrator
USA
5580 Posts |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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Nickelless
Administrator
USA
5580 Posts |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/16/2009 : 16:11:26
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I think the Liberty coins were a special case. I think the government perceived these in the light of an illegal mintage of currency.
Using good 'ol 90% (and 40%) US coins as an exchange for goods is perfectly legal. If you had a $5 bill, and someone wanted to give you $50 in goods, you are in the clear. Likewise, if you give someone a Franklin half (a legal form of real US money), and someone wanted to give you $5 of potato chips, you are in the clear, also. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 06/16/2009 : 17:51:05
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quote:
Originally posted by Neckro
Wouldn't it have been easier if he had a junk silver calculator? His method was rather time consuming.
I thought the same thing. I guess he is weighing them for exact silver instead of the more generally used 0.715 troy ounces of silver per $1 face calculation. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/16/2009 : 17:59:18
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| When you think about it, weighing the coins is the way to go when you are doing the barter thing. The guy selling goods wanted to know how the exact number of grams of silver he was getting. Why guess on the number of grams of silver using the old approximation of .715 troy oz/$1 face? You want to know exactly how much silver you are getting: some coins can be very worn, others are not. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 06/16/2009 : 18:34:18
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quote:
Originally posted by Country
When you think about it, weighing the coins is the way to go when you are doing the barter thing. The guy selling goods wanted to know how the exact number of grams of silver he was getting. Why guess on the number of grams of silver using the old approximation of .715 troy oz/$1 face? You want to know exactly how much silver you are getting: some coins can be very worn, others are not.
Very true...some of the 90% buys that I do contain anything from slick coins with no readable date to AU+ to BU coins that look brand new. When I go to sell, I try to mix them up and weigh them to make sure that people get at least 0.715 oz's per $1/face on average. So far it hasnt been an issue on the buying end, but maybe the guy is doing the right thing after all. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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simplicitycounts
Penny Hoarding Member
USA
535 Posts |
Posted - 06/17/2009 : 23:40:08
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| I think I know why he went for the dimes, he buys them by the weight and then sells them by the coin. He might charge $1.00-$1.20 per dime, and with the worn ones he might get 11 for the price of 10 because they are worn. Just a guess. |
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ME CO
Penny Pincher Member
USA
199 Posts |
Posted - 06/17/2009 : 23:48:24
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I think there would be a tax issue for a legitimate business to barter for silver, say 2 gallons of gas for a '64 Kennedy, do they say they sold it for 50 cents (so they can deduct a loss)or $5? Barter is for between individuals unless they want the IRS to come snoopin.
There was a story once about a guy who wanted his pay in $50 Eagles, so the end of the year he claimed FV for his income taxes- didn't work out too good for him neither. HH Mark |
"54/54/2280" |
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rainsonme
Penny Pincher Member
USA
183 Posts |
Posted - 06/17/2009 : 23:59:19
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| with regard to the liberties, why on earth would they have done anything to make them look like a US dollar --- that's stupid. The whole point is, that these coins are totally unlike the dollar: they have SOME backing. And the motto should have been "trust no one". I think these guys were doing the government a favor. They were backing the fiat dollar with about $8 worth of silver for every $20 of US paper. That's better than the government offers. And if the hicks in E'ville want to use corn cobs, or shiney beads, or Liberty Dollars backed by a little silver, for currency, it should not have been an offense. Other than challenging the fiat currencies of the global economy; they did have that going against them. |
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Paying for groceries w/ silver
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