Cash…don’t knock it until you’ve gone through a power outage without it
Have you ever seen those commercials where a store’s checkout lines move quickly when customers are using the sponsor’s credit and debit cards, but slow down considerably when someone has the audacity to use cash? Of course they’re implying that if you don’t use their cards for your purchases, you’re an out-of-touch fuddy-duddy who inconveniences all those around you.
These ads always rub me the wrong way because there are a number of reasons why paying with cash is a better choice – including for budgeting purposes – but I’m guessing that the commercial is even more offensive to Hurricane Sandy victims. The storm that caused long-lasting power outages and left millions of people in the dark and the cold also rendered many ATMs useless. And with many electronic store terminals down, usage of credit and debit cards was limited as well.
People with cash in their wallets were not holding up any store lines during those recent couple of weeks. In fact, in some cases they were the only ones able to purchase items that were needed so badly.
This article not only explains why it makes sense to always have cash on hand, but also gives advice regarding how to keep it safe. Please let me know your thoughts about this subject. Do you keep a stash of cash around the house for emergencies? If so, have you ever experienced a situation in which it was the only form of payment that was acceptable? What types of hiding places around the house do you use for your cash? Looking forward to hearing from you.
I have a supply of seeds to grow vegetables for canning. I know how to hunt and clean the birds and animals. I also keep a supply of dry goods for eating.I am looking for a treadle sewing machine.
I also stock up on trade goods. At 76 I have seen a little.
You mentioned as a bug out plan what to do where to go setting up a tent looking for berries so forth and so on I am handicapped I don’t walk I live alone I have a vehicle where would I go what would I do if there’s a blackout I don’t want to be on the roads I can’t go camping any suggestion for those of us with extreme handicap difficulties
I’ve long subscribed to the idea of having some emergency CASH stashed. I’ve done this since I was a teenager living in domestic violence. As an adult we had a wind storm blow through a few years ago. As a result I could ONLY use cash because the ATM networks were down and thus your ATM or credit cards were useless. I still remember needing some eggs as well as quarters to do the laundry, and NOT being able to use electronic “money” – it was cash all the way that weekend.
I, personally, would be very careful about posting my places to hide cash, gold, silver, etc as NOT ALL preppers are honest folks. I am 81 years old and have seen much during these many years.
I learned from my parents always have some cash on hand in case of emergencies. I recall the times we had to evacuate because of hurricanes , we seemed to always wait until the last hours to leave.
I receive an extra couple of Thousand Dollars & I got it in small bills so I could pay things especially for foods & trade from items. I keep my money in a strong Safe room that is guaranteed to not blow away from a 300 mile wind like I rode during Katrina in 2005! I also keep my Guns and Ammo too. I am an Air Force Combat Gunner & people wanting to steal my home will have to be shoot as I hate stealers & killers which I will send them to Heavenly Father to deal with them!
The Air Force obviously didn’t teach you proper grammer. “steal my home” and “will have to be shoot”. Does that make sense to anybody?
With the banks getting ready to move even deeper into negative interest rates, essentially charging people for saving money, and even charging fees for making cash withdrawals, we have every incentive to “stuff our mattress” so to speak. I’ve kept a good safe for 30 years.
Really you all are worried about cash, while China is getting ready too back the yuan with gold? We are done our so called leaders have threw all of us under the bus, they sold them the gold ton after ton of it, when they decide too tell the world, over night we will lose everything all of us have worked so hard to get, and it won’t stop there they are going to take 401ks iras and probably go house too house looking for gold and silver donot under estimate them they have a plan and it does not include any of us I really hope you all read this this is facts it is going too happen it’s only a matter of when!
According to what I have been reading in several sites on the internet, our money will in a few months lose about 80% of its value due to various reasons any one of which will have a very bad effect. I am turning money into something that should hold or increase its value when this happens. Read Jim Ricards comments.
Cash has changed by Obama ! We will only be able to have Gold,Silver, or something to BARTER WITH !
Please don’t tell me or anyone where you hide your money at home. Bad guys read these comments too you know….Consider hiding too much in one place in case of fire or tornado, etc. Fire resistant bags would be great for protection of paper money. In the basement in tornado alley. Lots of one dollar bills will be more desirable in the bad times.
where’s the article FRANK! You lied! There is no article and you didn’t answer the question…as usual. Now how much cash? Can you have the decency to answer your own question? I don’t think so.
The link to the article is there, Rodney. Just click the red words.
As for “how much cash” should you have on hand, that is up to you. I have always heard to keep at least 3 months cash on hand. Just figure out how much your monthly bills are then put aside as much as you can. I agree with the others that small bills will be best, preferably in a large safe. I also have a bunch of household necessities and basic items I can use for barter. I keep small toasters, extra toothbrushes, Lysol wipes, toothpaste, etc all to use as barter. My husband calls my supplies my “little store”, I just hope I never need it but it is there just in case. I also keeps guns and lots of ammo as I am not giving in to looters or thieves either!
Just think of the attic and with all that insulation up there they will have to do a lot of work to find the exact spot where valuables &/or money might be hidden if they think of the attic in the first place.
Karl what’s the first thing to go in a tornado? Right! THE ROOF. Hurricane? Same thing, Fire? almost always! You might want to re-think that!
While we are on the subject of stockpiling cash for emergencies, or at least having some on hand, does anyone know if that little foil strip inside the paper bills is something that can be used as a locator. Someone told me that the government has some type of means to locate a stack of cash by using some kind of electronic signal generator to locate those foil strips. Is this true?
The little strips are plastic and I would be very surprised if they have any further capabilities beyond their ability to glow a specific color under blacklight and have the denomination written on them. The new bills are largely designed to prevent counterfeiting, not add tracking. http://www.newmoney.gov/newmoney/flash/interactive100/index.html
When we talk about a dollar collapse or more broadly, a collapse of the international monetary system, we should remember that this has happened 3 times in the last 100 years (WWI, WWII, and 1971). It is likely to occur again, perhaps in the next few years. The most likely outcome will be the worlds’ largest trading powers rewriting the rules of the game (like Bretton Woods). Will this be a new paper currency backed by nothing (perhaps Special Drawing Rights or SDR’s – IMF money). Maybe, and they might try that. But will people accept another purely paper currency? If not, a gold backed system is more likely, and that is why you want to hold some gold (and I would also say silver) – to protect your wealth. Gold is a true monetary asset. Cash and other items for trade are good for emergencies, and I like a lot of the ideas and thoughts in these posts.
some cash is great, but I maintain a large supply of ammo in a variety of calibers…. when SHTF this is a commodity that will be easily traded.
Frank,
I’m probably the biggest hypocrite out of all subscribers, because I still wear the uniform for the country that cannibalizes its own citizens. My position has been compromised because of the asinine idea to remove wartime veterans from the ranks to replace them with news soldiers, sailors, or marines, who don’t give a damn about their commitments. Now I’m in Reserves, collecting half the pay check that I would’ve been collecting, and have to wait till I’m 62 to start collecting my retirement. The reason why I’m telling you all this is because in some shape form or fashion the governments going to screw you as they screwed my family and I. You, the VA ( believe it or not) has given my family a chance by acting right away. Unlike the United States of Corporate America. I have to wait 3 to 4 year to receive my disability, because of the ” Out With the Old, In With The New” Policy. Causing me to waive the copy of my medical records also because PVT Joe Shmukatelli is consider priority because he’s getting Chaptered out. When thousands of Soldiers whom have completed (or forced to complete) their term “Honorably” are pushed to the side. How would you like to know that millions of American tax dollars are being spent on today’s young Soldiers for uniforms, housing, food, training, paychecks… Etc just to find out in 3 or 4 months they are going to get kicked out because doing drugs is more important to them than doing what they signed up for? I know this is totally off-topic but at least it gives me someone to vent to.
Jamie
Jamie,
My heart really goes out to you when I read your comment. It’s good to let people know what you’ve been going through because people won’t know unless someone says something. There’s so much hurt and abuse that the military veterans have been going through for so long and it’s just sickening. My husband served 5 years in the service and he got out because the mistreatment he received was un American. (he seemed to have a lot of foreign types put in charge and he was mistreated and disrespected). Thank you for your service to us and America, you are appreciated!
I believe cash might be a spendable asset to a point but as mentioned by another reader, what would happen if it was rendered useless? I have 2000 ounces of silver coins and bars hidden in various places just in case and no I didn’t purchase it all at once. I’ve saved for a while. I find that silver would be better than gold due to the change that you would receive back from a purchase. Not everyone will have change for gold and not everyone will give change. I found that cutting a 3/4″ slot in the top of my doors and wrapping the moneys(silver, gold or cash) and putting a string in the slot before placing it in is a good way conceal your cash on hand. It gives you quick and easy access if needed.
when was the last time you heard of a burglar pulling up the carpet? pull up the carpet at the corner of the wall to wall carpet with an awl or ice pick… put in as many bills as you want under the padding, not too high tho. push the carpet back, tuck the edge with the awl… bingo
What denominations of cash are best?? 1’s 5’s 10’s 20’s 50’s ??
I recommend $1’s, $5’s, $10’s & $20’s only. Anything larger than a $20 bill would be hard to make change, that’s true even today. No $50’s or $100’s. they’re too large.
You might want to reconsider, during a major crisis things tend to cost a LOT more than before it started. Look at Germany after WW I, and II, 50,000 DM for a loaf of bread? Those who fail to study history are doomed to repeat it! When you are down to your LAST loaf of bread what will YOU charge for it? Hmmmm.
Frank…..I have a question. I don’t know if you watch the financial news but my question is this they are saying that our dollar could become worthless, I believe it will not might when this do’s happen would you recommend using gold and silver coins since gold and silver never lose their value? Already by Mr. Bernanke’s cooking the books has dramatically lowered the value of our dollar most people do not realize that for every dollar you hold in your wallet that dollar is only worth .40 cents this is what the banks have done to our money. Any advice that you or your readers could provide would be greatly appreciated.
People spend their entire working lives studying and speculating on the future of the dollar; I am not one of those people. That said, I think any money backed by just one country has the potential to tank. I like the Euro. Also, both gold and silver have been used as trade for much of recorded history, so I think they will both hold value. Between those three? It could change with the flap of a butterflies wings.
I’ve found a good recommendation to be own physical gold, but no more than 20% of investable assets (I would also say own some silver). Also cash in roughly the same amount – gives you optionality in what would most likely be a chaotic and unpredictable period of time. The remainder could be in hard assets such as land, fine art etc.
Hey Frank, I’ve noticed a lot of comments on here about a generous amount of pre-1964 or 65 silver coins,to use for bartering. Are they really worth what people say they are?
In a barter system, things are only worth what others will trade you. Precious metals have been traded for hundreds of years, so they remain a reasonable bet for future trade.
Having cash on hand is very important to me. As to where to hide it is really up to the person hiding it.
I do feel a bigger problem is trying to come down on us. Our fed reserve / gov. I think is trying to make cash dollars illegal. Make all of us use digital money.
Think about this , how much cash do you use to pay monthly bills with ?? from your hand to company hands for bill paying ?? How much cash do you take in which is never report as income ?? From anything you do. This would be a perfect tax collecting plan. And if this were to happen we would really be in trouble with any power outage for any reason. So everyone do need to call our gov people and tell them do not allow this digital money to happen. It is very import to us if power goes down for what ever reason.
geraldc
“Think about this , how much cash do you use to pay monthly bills with ?? from your hand to company hands for bill paying ??”
Some places (utilities…) do not take cash as payments– all payments have to go to a “central” PO Box for checks if you don’t pay on-line or through automatic deductions from your bank account. My father hated banks, but had to get a checking account just to pay his electric and phone bills. Previous to them changing to the “central” payment address, he just went to the local utility offices and paid cash. His rates went up when they switched (coincidence??), which made him even madder about the situation. Then the local offices closed… in favor of “central” hq’s a few hundred miles away.
I am not a dooms dayer by no mean. Been studying the gov actions for a number of years. Think about this, how much cash do you hold in your hand and hand to someone to pay monthly bills ??? I did not realize for long time handing someone cash for monthly bill paying is not in main stream of paying monthly bills. How much of the QE money is printed each month ? If you track the velocity of money you will find in has gone down not up, meaning less cash is moving from hand to hand (people paying companies each month ). So if one morning we wake up and gov has said ” cash is illegal to have, you will turn in all cash, you will pay all bills with digital currency ” ??? This would put all money earned from anything in front of gov for taxing. This may be coming soon. We should be on our Congress now to stop this from ever happening. Don’t think they can do this ?? What did FDR do with people owning gold ??
geraldc
Two things..1) paper burns in a fire, be careful where you put it. 2) if cash becomes illegal, we then also have to put pressure on companies and stores. Either they take the cash or don’t buy their stuff. Spend it else where, someone will take it and the others will come around.
I would have to agree with Frank. If the disaster only lasts for a couple weeks, people will still be trying to conduct business as they did pre-disaster. You may not be able to use your credit or debit cards to have access to your money. If you have cash, you will be able to get some of the things that you will need. If that disaster lasts longer than a month, people will revert back to bartering for what is practical and can be used to feed, clothe, protect, and shelter their families. At that time, even cash will be worthless.
What will become more valuable is the skills that our grandparents and ancesters had. There were farmers, carpenters, mechanics, etc all rolled into one person that had the attitude of not letting the situation beat them. “Whatever it takes”, was how they lived their lives. They were not consumers like we are today. At the end of their day there was something tangible to show for their effort. Today most of us only can show a few scraps of paper that we are told what it is worth.($$$) From a practical point of view, one thousand dollar bills would not burn all night to keep us warm. They can’t be fashioned together to protect us from the elements. We can not eat them to nourish our bodies. They won’t stop an angry person intent on doing us harm.
Tx for so much valuable info. Really got a lot out of it.
What kind of coins would you recommend? How much money is needed? What kind of items would you recommend for barter? Very worried!!
food, fuel, ammo, water, knowhow, medical supplies. The mechanical ability to build a shelter will be more valuable than legal advise.
Frank, I do keep cash available at all times. I keep just enough cash in the bank to cover my checks and to be able to cash monthly payment checks I know are coming in. I have two gun vaults which weigh 1000 lbs each, however I keep very little cash in them. During a home robbery, if the bad guys some how get the drop on me (not likely) but possible on my wife and daughter, they may force you to open the vaults. I don’t recommend safes unless they are well concealed. Hidden in plain sight is what I recommend. I do keep a little gold and a lot of silver and this is also available in case of emergencies, but again little of it is in the vaults. I even have some of my firearms off premises, but available. This advise comes from 31 years in law enforcement.
I met a prepper once who kept his stash of cash in one of those fake soup cans, to innocuously hide in his pantry.
After I pointed out that the primary target of looters is going to be food, he dumped the can and we hollowed out the top edge of one of his doors & created a hollow space no one is likely to find easily.
Keeping ready cash inside books or magazines is also a bit risky, since scrounging looters are eventually be taking things to help them start their cooking fires …. and what’s a book other than an extremely convenient way to carry tinder?
Hiding stuff from the garden-variety junkie burgling your house for dope money is a whole lot different from protecting your stuff from hungry, cold looters when the grid falls apart, and we need to THINK in those terms.
Available cash is a definite MUST. especially for short-term emergencies like power outages & storms. For long-term, open-ended emergencies, a good stock of cash (preferably in small bills) is essential, but don’t forget to build up a potentially FAR more valuable commodity — small trade goods that you can stockpile now for almost nothing, but would be desperately needed by those smart enough to survive the initial disaster.
The usual health & toiletry items are obvious — toothpaste, aspirin, tampons, bangdage material, first aid items. Also obvious are the luxuries like cigarettes and liquor.
However, you get more bang for the buck, and have less of a storage issue, by stocking up on Bic disposable lighters (forget the other cheapie brands).
Aside from the tiny percentage of us preppers, virtually no one is going to be able to light a fire for heating or cooking after the few scrounged souvenir matchbooks are exhausted, or the fuel in their Zippo — and keep in mind that the number of smokers is dropping drastically every year, and aside from that there is hardly any reason for most people to own any iighting device.
I keep at least 50 Bic lighters in the stash, and a box of 100 cheapie import lighters I got on eBay for less than a quarter apiece (they’re not as bad as most Chinese imports).
Most survivalist firestarting methods are too tricky for the yuppie crows, so they’ll probably trade anything to “flick their Bic.”
I also stashed a couple of hundred packs of Zippo flints, bought dead cheap on eBay. Fuel may not be available, but gasoline works in a pinch — but not without flints.
Off the subject a bit, perhaps, but you definitely need to have something people need badly in an energency, when handful of dollar bills won’t warm their family or cook their can of soup.
Keeping BIC lighters is a good idea. But if you want them to last until SHTF, keep them in the freezer. Since they are just LPG and keeping the as cold as possible lowers the internal pressure, it helps keep them from leaking. After all they are cheap and the gasket in them needs all the help it can get.
I don’t like paper money I have coins they are heavier but they don’t burn, .50 / 1.00 or silver rounds from 1/10 oz to 1oz
I IVE IN A TINY APARTMENT ABOVE THE GARAGES. ONE WAY IN.THE FRONT DOOR. I HAVE LOCKS ON MY CABINETS AND SLIDING BEDROOM DOORS. MY BEDROOM DOOR LOCKS. I KEEP MY EMERGENCY CASH, 10’S 5’S 1’S 100.00 IN 20’S IN A ROLLED UP SOCK IN MY SOCK DRAWER. 2 DOZEN PAIRS OF SOCKS AND A LOCK ON THE DRAWERS TOO. MY NEIGHBORS ARE ALWAYS HOME AND EVERYONE WATCH’S OUT FOR EACH OTHER. HAVE A 1/2″ STEEL PLATE FOR COVER. ANY ONE COMING THRU MY FRONT DOOR WILL BE SHREDED!! PRE 1964 SILVER COINS ARE GOOD FOR BARTERING AND COFFEE, I DON’T DO CAFFIENE, BUT HAVE A FEW POUNDS OF COFFEE FOR TRADE.
I love coffee and I have 1800 servings, but 600 are for trade
Try to think back to ww2, to learn what was valuable. Coffie, sugar, grain, (learn how to store grain) even candy, (will be a luxury) canned nuts (not the human nuts) chips, beef jerky, and any kind of canned air tight food. Think of things people will miss, canned fruit, beans, and of course lots, and lots of all types of seeds. Some things you will need, have to be stored, but the internet will help there. Tons of other stuff, just think of things that can be stored easily. Lighters is a great idea. Please share your ideas, it will be appreciated much, thank you.
My cash is behind a hole in the wall I plastered over.
Although credit cards are more widely accepted in central Mexico than even a couple/few years ago, many charge a “convenience fee”, and cash remains the preferred payment method.
For starters people declaring on the internet where they hide any cash is not the brightest thing to do. I know no one knows where they all live but criminals will check all ideas in the future. IF/when the dollar collapses and a new “currency” arrives there will be a grace period to trade old currency for the new Amero or whatever NWO currency in the US is called. Wont be a direct penny for penny rate but its better then burning the useless dollars in a campfire. Try to keep some cash around for regular disasters like weather related ect. If you do live off of credit cards or check cards and online banking, still know how to balance a checkbook old style so you can track yur finances without a computer.
I keep a moderate amount of gold and lots of silver. Try not to buy bars stick to coins it will be a lot easier to trade.
My mother used to hide her money in the hems of her curtains.
Make good ‘cents’ to me!
I keep my cash and silver/gold assets in a file cabinet which I made a false bottom and labeled TAX RECORDS. I have two safes with bricks and Obama bumper stickers in them so anybody that want these valuables can carry them away.
Great idea buy obamo posters and a bunch of darts or throwing knives, lol, they will be a big commodity, and ……i’ll just stop there.
Oh and I forgot, lots of batteries and solar lights. You can find them all over the net really cheaply.
I keep some in a fire safe. I went to a cafe the other day and when checking out she asked me how I was paying credit or check. I asked her if cash was still used and if the took it she went and got the manager he wanted to see my drivers lic. And another prof. Of who I was. They took my cash but took 30 min to do it. And the bill was only $38.80 out of a $50.00.
Frickin stupid and ridiculous. People are dumb these days…
I keep cash in a can with a popup spring toy that doesnot come all the way out of the can. A left or right turn releases the toy an lo and behold cash. Works great and is hard to locate. Power to All
It wasn’t that long ago when the concept of having a balanced approach to things didn’t even have to be “advised”. It is amazing how the culture has become so cattle-like. With the advancement of the computer age the people just think: “Oh, this is how it is now! Let’s just put all of our eggs in one basket” without even the slightest individual independent analysis. No question that keeping some significant cash around makes all the sense in the world but one has to wonder: what happens when Bernanke’s B.S. makes our currency worthless and THEN the power gets obliterated? What’s it going to be? Carrying gold bullion bars around to buy some food? Does make you wonder doesn’t it?
To Your Survival as Well,
Dale Fontana
As a precious-metal hedge I acquired some pre-1964 dimes and quarters for their silver content and because they’re recognized as US tender. Pre-64 halves and dollars also also have silver but usually demand a slight premium. After SHTF a face-value of $1.00 in the coins will likely by worth a day’s labor.
Gold will always be good tender! You might have some trouble getting idiots to take it; so you better cash in a little bit at a time. I bury my cash under my house in a 6 foot deep hole. The clearance is only about 12 inches so you had better bring some small shovels and some spoons. It is also very muddy down there, I have a water leak in that area!
I have a metal box with lock and that contains a generous amount of cash for emergencies. No one but me knows where it is located. It is comforting to know or is there for such emergencies
Why would I need cash when ‘they’ are about to cause the financial collapse anyhow? A bucket load won’t buy me a loaf of bread. I know this because I live in a very small town. We have never had a robbery; ever! I was in my bank this week and found that they had installed 1 inch thick, bullet proof glass all across the teller line; all the way to the ceiling! I inquired about it and was told that they were the last bank to have it installed and that all banks have to have it done.
If that isn’t a clue that there will be a run on banks; much like in the depression, I don’t know what is..!
Why will I need cash when they are about to cause the financial collapse anyhow? A bucket load won’t buy me a loaf of bread!
You have a very valid point, which I mention in other posts.
Often when an emergency occurs it may not be immediately apparent whether this is just a few days of discomfort, or weeks of scary living, or a very long-term lifestyle we’re going to have to get used to.
Cash will be very important for those first two scenarios, perhaps less in the open-ended scenrio Smart people will be ready for ANY of these.
Cash has its place, for sure, but it’s smart to also stockpile small, cheap items that will be in extremely high demand when the lights, water and heat disappear — not to mention food. Bic lighters, manual can openers, etc.
For ten bucks I bought a large baggie of old military can openers (P-38 and the bigger “Cook’s Model”), and I guarantee I will be able to trade any one of those for a lot more than I paid for the whole bag.
The whole key to being able to buy or barter in a disaster situation is stocking things that are:
(a) Extremely Small
(b) Extremely Cheap
(c) Absolutely essential
Keep 1 and 5 dollar bills only. I keep them in several hiding places through the house. Burglars might find one bunch or maybe two, but not all. Also, junk silver dimes and quarters pre 1965. Even halves will be worth too much for small purchases. Forget any gold more than 1/10 ounce. In fact I keep some 1/20 ounce gold coins only minted by Canada and Mexico. Stay away from 40% silver coins made for a few years after 1964. No one will know how much worth to attach to them. After that, coins contain no silver and will be worthless. Use older Mercury dimes, not Roosevelt type because they are small and anyone taking them will have to look
at the small date to confirm they are pre 65. Not necessary with Mercury dimes or
standing Liberty type quarters which are automatically known to be 90% silver.
Credit and debit cards have taken over in the U. S. , however every once in a while the retailer cannot process the cards for whatever reason.
It’s always smart to have some cash with you.
I worked for A LARGE UTILITY , that required all technicians to have $20.00 in their pocket b-4 leaving the garage, so if you were mugged you could hand over something to avoid injury.
John
Keeping cash on hand is a wise idea. For purposes of emergencies like Sandy and the Oklahoma tornadoes, cash is best to have. For the long term though, I am saving hard money ie., coins that still have metal value, and gold and silver for bartering and buying.
The need to keep a fair amount of cash immediately available is becoming realized by more and more people. Like you say, there will probably be numerous situations where other forms of payment won’t work, before the SHTF and the dollar itself becomes worthless. It is those situations that dictate the need for immediate cash
If the dollar becomes worthless, what good will it do to keep cash around, assuming its “dollars”. Not following…
After the big earthquake in the San Fernando Valley in 1994, power was down and people weren’t able to use credit cards nor get cash from banks. My children and I survived by using $110 in nickels and dimes that I had saved. I also had another $50 in pennies but didn’t have to use those because it only lasted a few days. I was a single mom with two small children, and I was very thankful that I had stashed some coins away (I wasn’t able to save my quarters, since I used those for doing laundry).
While I agree the paper dollar is ok in the short term some alternatives to think about are these;
Gold, not the full ounce coins but the 10th oz. coins. They are about the size of a dime and will be much easier to transport, hide and use in the case of the pending dollar devaluation.
Silver, while the 1 oz. coins are heavy they may be accepted more readily than gold.
Silver dollars, half dollars and even quarters, if you can find the coins minted before 1965 they have a higher silver content then the more recently minted coins. I do not have any idea about the Susan B. Anthony or Sacajawea dollar coins. I don’t know their metal content.
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I think most people who are going to accept gold and silver, wont know that American coins are made from silver before 1964. I think they will see a quarter before 1965 and will only tell you its worth a quarter. I keep mine in coins that say something like fine silver 99%. So they wont get confused. There are alot (probably 99%) of the population that have no idea what coins are worth. Just my opinion
Beware of holding U.S. bullion coins only. Part of the bill that created them in the mid 80’s allows the govt to call them in at any time. After that holding them would be illegal which could make them much harder to spend. I keep both the 90% pre 65 silver and 1 oz silver bullion coins.
Cash is a must have in a power outage. Cash will be WORTHLESS if the economy collapses. Many want the economy to collapse so they can switch to a “New World Currency” the goes along with the New World Order. Agenda 21. Better be looking it up. Commodities such as gold, gas & food items will be the only things of value if the economy goes first. No one will trade valuable food items for cash that won’t buy anything. Have balance in your planning. Having too many eggs in one basket will leave you Easter egg hunting for survival.
Cynthia has it right – keep some on you. If you have a secure area in your house, keeps some there too. But definitely have it secured. I choose to keep it on my person, and I choose to secure my person and my family by exercising my 2nd Amendment rights.
Frank, I agree with your point about cash verses cards. Have you any information on the best form of currency in the event of the failing of the dollar? From what I’ve been researching it seems that the dollar is going to soon collapse. Again what form of currency would you recommend, gold, silver? Thank you, Clayton
One down side of carrying a lot of cash, ($1, 2, 10 K) is that the police can (and will) take it from you because they can. The war on drugs is to blame here.
I know of a family who was going on a mission trip to Africa and had cashiers checks, cash and some letters of credit. At the airport, they were told to declare the cash they had and they under estimated the about by $2,000.00 and home land security (there’s an oxomoran if I ever heard of one) took it all. To date they have yet to get any of it back and the mission trip has been scrubbed and the church that had put up the money is SOL
Everytime I hear stories like this it makes me hate our corrupt BS government more and frickin more! In so tired of us all just having to sit idly by and grin and bear it while the screw us!..,..
Back in the days when I actually had cash, I would keep some in the house. These past few years, my expenses have outpaced my income, so just about everything goes on a credit card. As for gasoline, don’t gas pumps need electricity to run? I don’t know how many gas stations have backup generators. In the 1970’s, I worked in a grocery store. When there was a power outage, we just got out the flashlights and hand cranks for the registers, and it was business as usual. Now, except for possibly some small mom and pop stores, there are no more price stickers on food or other items. Everything is scanned electronically, which again needs electric power. If we were still able to purchase items in stores, there is the additional problem of delivery trucks being able to get in to restock the shelves. Personally, I would rather keep a good supply of basic necessities in my house, rather than cash, so I won’t need to go out to buy things. Once I have those, I may get some extra items of use to barter with, in case I need something I hadn’t planned for. We have become way too dependent on electricity and electronics in our everyday lives.
One thing to remember about keeping cash, it is good to have the bulk of it in small bills. Having change for a 20 our even a 100 can get you up to the front of the line. I read about people pulling cash out of the ATM’s, but the stores not being able to make change.
Cash is what talks in an emergency situation. I have survived many hurricanes and their aftermath in Florida. We went with out electrical power for 2 months in 2004. We were in the eye of the hurricane so we were hit hardest, our area looked like a war zone. Fuel was hard to find, few stores were open, but the ones that were CASH ONLY… same with gas stations… CASH ONLY… You can thumb your nose at cash all you want, but it talks when you are living in a war zone… So think about it.
Cash? In my wallet. Defended by Smith and Wesson.
Of course, cash is no good if the power outage disables the store cash register. And if it is time for zombie apocalypse or impact with planet Nibiru, what good is cash? Even the corner drug dealer won’t take it the last five minutes of earth.
My employer is going cashless in 2 weeks. We will not be accepting cash for anything. I am not very comfortable with this, but apparently bank fees for processing have gotten so high that they felt they had to do this. If the power went down, we could not accept any form of payment, anyway, but still…………. For my personal needs ,I don’t keep a lot of cash because I don’t have a safe yet. As far as sharing hiding places, every time one of us shares that, we are educating burglars, too. Whether they find the cash or not depends more on how much time they think they have than how clever they are, & the further off the road folks are, the more vulnerable to predators. My opinion, since you asked, is that you should keep some cash on your person, not hidden in your home somewhere. That way, you can directly protect it, & it is available to you if caught in a situation away from “home base”.
The mindless thugs during a grid upheaval will not be going thru your house with the skills & patience of a CSI team. They’re going to throw things about, looking for food, cash, jewelry, weapons … and then quickly go on to the next place.
You don’t need a massive safe or a cleverly-designed hidden compartment behind a wall panel. Even a large amount of cash takes up very little space, and can be spread around to several smaller sites if necessary. There are a number of books on “secret hiding places” & a Google search along those lines will give you some simple ideas. Just be careful to pick unlikely places, like in a ziplock bag underneath the cat litter, or stuffed in some dog toy, or a kid’s toy. Or inside that hallway light fixture. Or buried in an old jar in that planter on the back porch.
Hi Frank~ I have an issue with this, or better described as a concern. In the event of an economic collapse *which I believe is coming*, My take is that the dollar, will be worthless, so why would I have ‘cash’? I am having trouble wrapping my head around this one. Any suggestions?
Joan, There are different levels of disaster. For a full economic collapse lasting for months or years, cash may become worthless, but the vast majority of disasters (tornados, floods, power outages, riots) only cause issues for a few days. For those few days, however, you may really want to buy things and cash will likely be the only way to do so.