Why should you be hoarding coins?
If you follow this link, you will be taken to the official federal reserve webpage that clearly says that coins are bought from the mint at face value.
This means that in order for a bank, local, state, federal, credit union, whatever flavor of bank you deal with, to have coins it has to buy coins from the mint at face value.
They can acquire them from their customers, but that dollar of value has been paid to the mint before they let the coins go out the door.
IF you hold cash at home, take it to the bank and get dollar coins for it.
If you want to take a gamble, get nickles, they are already worth more as scrap than their face value.
Pre-1982 pennies, too.
http://coinapps.com/base-metal/coin/calculator/
If you get your cash into coins, the local stores will love you because they have to pay a premium to get coins from the banks.
Using coins will save them that delivery charge.
You can always go back to the bank and cash them in for paper, but why would you?
The banks are gonna collapse.
When they do that, coins will hold their value because they are not bank fiat debt checks, they are treasury money.
Even if they don't assume the new dollar value, you have kept a dollar of value from the banksters that have put us into this situation in the first place.
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Unfortunately, $10,000 in coins weighs way too much to move.
I would suggest just buying silver.
Easier, faster, weighs less, and has a lot more upside.
And the paper dollars will have their day in the sun, when they become really valuable because of bank chicanery.
I should have added that if you have enough coins they become too much work to be worth stealing.
I seal my coins in wax because I live with smokers and they have proven that they will get into the coins to support their habits.
I agree that silver is a better investment, but you can't spend silver at the store, just yet.
I'm sure that day is coming and will have been too long in coming if it was to happen today.
I don't think paper will do anything but decline in value until the banks finally collapse, at that point coins will rule the day by assuming the new silver dollar purchasing power.
I looked for instances of coins assuming the new value after currencies collapse, but it looks like they are hiding that info.
I got plenty on crypto 'coins' collapsing, but not one about malaysia and it's 10000% increase on one of their coins.
I should have filed away the story when I read it, but didn't.
You could get the best of both worlds.
Buy pre-1965 silver coins.
But damn if your roomies wouldn't spend them for 1/100 of their value, cause they need a smoke.
They didn't do it but once, let me assure you.
Now I buy canning jar wax and melt it in over the top as the pile gets deeper.
Of course, the 5 gallon water bottle got too heavy and I had to start breaking them up into smaller jars.
Very little loose change in the house now.
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Coin is one of the best way to keep your money's value.
If only more people could realise just how valuable coins really are. Sadly though there are an increasing amount of small businesses going cashless, it seems many of them don't want for cash, which is so stupid. I think the current battle is retaining cash in all its forms, the coin and metals argument might have to be ancillary for now.
Not the guy who I take my car to. He loves cash and credit cards. If you pay with a credit card he'll charge you the fees the bank charges him. If you pay with a check he'll automatically assume it might bounce and add the fees to the bill he might get stuck with. You give him cash and he'll reduce your bill by whichever would have been your chosen method of payment if it had not been cash. He went to doing that after he made a deal to sell the shop to his grandson, I guess the grandson didn't want the cost associated with credit cards or bounced checks. Still I don't know how he can get away with charging people in anticipation of a bounced check without explicitly telling them that cost is included. I was just trying to avoid not paying with credit card because the fee is high, when he asked me on the phone if I'd be paying with cash, check or credit I told him if I got to the bank in time I'd be paying cash otherwise it'd have to be a check. I got there and he reduced the bill by fifty bucks. Weird, but I guess you have to do what you need to do to stay competitive in the market. He's pretty reasonably priced compared to a lot of others so I don't blame him for not wanting to take a chance on losses, it would only drive up the cost for others.
Good points as usual, @antisocialist. Interesting perspective. I hardly ever even receive coins because I use cards. That's me contributing to the problem...
The real solution would be to opt out of the system entirely, which we do have the tools for, but that isn't going to happen today. Soon maybe, but not today.
Supporting local markets and engaging in agorism can be a step towards that direction. By using cryptocurrencies like Hive and Monero, we can foster a decentralized economy that's free from state control. Additionally, embracing open-source software not only starves the corporations but also adds to the gig and agorist economy, promoting a more free and voluntary exchange of goods and services.