Reply #49: Pretty much [View All]

[LunaC]

but there are inherent problems inasmuch as you and the seller have to agree on the value of the precious metal to begin with. The price is generally pegged to the "markets" but that can fluctuate wildly. But don't expect to get change back if you use a gold coin for a purchase that isn't equal to the coin's value (unless the seller is also holding gold coins, which isn't likely.) This is why smaller denomination coins - 1/10 oz as opposed to 1 oz - would be a better bet if you think you may need to purchase smaller items in an economic collapse. Even better would be some silver coins which aren't worth as much as the gold.

On a larger scale, the coins may be helpful to purchase big ticket items on the cheap (houses, land) or pay a bribe to get your family to safety if things fall apart to that extent. I'm not saying they will, I'm just one of those anal-retentives who likes to have all the bases covered just in case Murphy's becomes the law of the land. I blame my parents for this predisposition. :tinfoilhat: