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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Redman who wrote (26426)	1/18/1999 7:18:00 PM
From: John D. McClure	Read Replies (1) \| Respond to of 116915

Jeff wrote: "...We have been talking with other retailers and if you were to bring in silver dollars say, then we would only give you the face value of the coin, not any floating rate. There is no way we could handle it or accept it otherwise." First let me state that this is to be used as spending money under dire circumstances. Next, I must posit that there are two dire circumstances that I am PREPARING for-two contingency plans plus a backup plan, if you will. If we get a full blown deflation and demand for goods drops enough and I want to buy something, my silver dollar will most probably have as much purchasing power as however much the item cost before in greenbacks. While the price of silver may have dropped too, the face value of the coin is what counts. Now, in the case of things that stay dear even in a deflation, such as certain foodstuffs, my coins aren't going to go very far-but neither will fiat money. By the way, I plan to stock up on that too. If we get a roaring inflation DUE TO FED/TREASURY MONEY PRINTING, my silver and gold coins will come in quite handy. I could indeed turn a silver coin in for some inflated fiat dollars and buy what I need while keeping the rest and letting them appreciate due to their exploding premium and metals content. I do admit that we could end up in a scenario with high demand for some things (i.e.-food) and low demand for others (i.e.-gold). I am preparing for that by storing a reasonable supply of basic foodstuffs AND a supply of BARTERABLE items such as plain soap, booze, and other basics. I hope that answers your question.