Gold and Silver Bartering.....

[HighlandTiger]

If the SHTF'ers get their way, we'll be swapping little circles of yellow and white metal for food, toilet paper and big sticks. (in the US that last item would be big guns, but we are civilised in the UK )

 

But has this PM bartering already started without the zombie apocalypse / Alien invasion / Meteor strike / Super Volcano / Ilumminati NWO takeover (delete as appropriate) happening

 

 http://www.huffingtonpost.com/delphia-simmons/gold-silver-furniture_b_6813488.html

 

"Trade Your Gold and Silver for Furniture"

 

So are we all going to head to Ikea with a handful of Phillies and a sovereign, in order to get a couple of cushions and a flat packed display cabinet?

[watchesandwhisky]

This is just strange lol, I'm going to hazard a guess that your average person has roughly or less than 5 grams 9 ct gold and or 2 oz silver average. Much more than that and they probably know what its worth. Anyone with half a braincell would sell to the highest paying dealer not swap for furniture.

Maybe this works in some highly deprived areas like Detroit, but how much PM does the average person have just lying about? Id have thought most has been found and cashed in already.

[sovereignsteve]

If the SHTF'ers get their way, we'll be swapping little circles of yellow and white metal for food, toilet paper and big sticks. (in the US that last item would be big guns, but we are civilised in the UK )

 

But has this PM bartering already started without the zombie apocalypse / Alien invasion / Meteor strike / Super Volcano / Ilumminati NWO takeover (delete as appropriate) happening

 

 http://www.huffingtonpost.com/delphia-simmons/gold-silver-furniture_b_6813488.html

 

"Trade Your Gold and Silver for Furniture"

 

So are we all going to head to Ikea with a handful of Phillies and a sovereign, in order to get a couple of cushions and a flat packed display cabinet?

PMs have always been used as "money" or bartering tools, just that we have got out of the habit of using them in recent years.

Detroit is further down the road to ruin than the rest of us "civilised" societies so I guess it makes sense they're the first to start doing this.

We all need to get back to the Gold Standard or even Silver Standard and do away with all this paper ponzi stuff!

[Kman]

I can't remember where I read this.. hope it wasn't on here

 

Apparently in the US a pimp will wear a lot of gold jewellery bought from a pawn shop because when they get arrested they get their cash taken (because it was made illegally), but they keep their jewellery.. 

 

So they will have a friend come and repawn it for their bail money

 

I don't know if they will want furniture though 

[Hookythestacker]

 The article only cites one business engaged in the PM for furniture game,  so maybe the shop owner is an opportunist stacker, so good luck to them. Could be the customers get a better deal than cashing in at the pawn shop. The Huffington post has some good articles but they usually have a hint of the hand wringing liberal to them, somebody swapping a piece of unwanted jewlery for furniture they need is just good commerce. Now if they were exchanging PM for food we might be getting closer to something to worry about.

[HelpingHands]

Meanwhile, us lot are waiting for a shop that will do the opposite and let us swap our furniture for gold.

[garthy]

As the sheep head to Ikea I'll be heading to my local farmer, he'll become one of the richest in the land and will happily exchange gold and silver for food.....I hope.

[Shamatti]

On another forum I have done a lot of this trading. Before I left Oz I swapped a dozen different items, from video camera to garden furniture - all traded for gold and silver coins. We could do the same on this forum.

[ChrisSilver]

I can't remember where I read this.. hope it wasn't on here

 

Apparently in the US a pimp will wear a lot of gold jewellery bought from a pawn shop because when they get arrested they get their cash taken (because it was made illegally), but they keep their jewellery.. 

 

So they will have a friend come and repawn it for their bail money

 

I don't know if they will want furniture though 

 

Don't know if this is true, maybe in the US. In the UK though there is the proceeds of crime act, and if you can't prove that those gold chains were bought with legal money then you will get those taken from you.

 

To answer the OP question, I think that precious metal prices are far too volatile for the average retailer to start accepting them as payment. If companies wanted to take gold and silver as payment they would have to hedge each sale. Far easier just to accept the more stable GBP.

[Kman]

Don't know if this is true, maybe in the US. In the UK though there is the proceeds of crime act, and if you can't prove that those gold chains were bought with legal money then you will get those taken from you.

 

To answer the OP question, I think that precious metal prices are far too volatile for the average retailer to start accepting them as payment. If companies wanted to take gold and silver as payment they would have to hedge each sale. Far easier just to accept the more stable GBP.

 

Found where I read it after I posted it, was said by the pawn stars guy

 

http://www.npr.org/2011/06/09/137033690/pawn-star-rick-harrison-on-his-deals-and-steals

 

 

And who buys the jewelry from Harrison? Pimps — and there's a good reason why. "When you get arrested for pandering, they take your cash — because the cash was obtained illegally — but they don't take away your jewelry," Harrison explains. "And a pimp knows that if he buys jewelry in a pawn shop, if [he] brings it back to a pawn shop and gets a loan against it, [they'll] always get half of what you paid for it — as opposed to buying it in a jewelry store, when [they] don't know what [they're] going to get. So, when they get arrested, they will always have someone bring their jewelry down to me. I will loan them half of what they paid for it — and that's their bail money."

[Cornishfarmer]

As the sheep head to Ikea I'll be heading to my local farmer, he'll become one of the richest in the land and will happily exchange gold and silver for food.....I hope.

 

ill be happy to swap milk, beef lamb and fresh air of the countryside for gold 

[sovereignsteve]

ill be happy to swap milk, beef lamb and fresh air of the countryside for gold 

What are beef prices like at the mo, how much of a bullock can you get for an oz of gold?

[Cornishfarmer]

What are beef prices like at the mo, how much of a bullock can you get for an oz of gold?

Living 1.75oz

Beef cut up for freezer 2.5oz

Dead cost 1/10 to take away!!!!