Bartering with Junk Silver

from Survival Blog:

“Brother, can you spare a dime?” is one of the best-known American songs of the Great Depression. The question was commonly asked by drifters hoping to be able to use the dime to buy a meal or two as they wandered the country looking for work. However, that was the 1930’s. Thus, it begs the question: in today’s economy, what’s a dime really worth? Is it still worth just a meal or two? Up until 1965, most American coinage was comprised of 90% silver, which is commonly referred to today as “junk” silver. Starting in 1965, the U.S. Mint diluted our coinage with lower value metals, with our nickel being the only current exception.

Imagine a world where the fiat dollar has collapsed. As John Lennon would tell us, it’s easy if you try.

The excrement has made contact with the oscillation device. Things are tough all over. Fortunately, your neighborhood has managed to maintain or regain some semblance of peace and security and has announced an open market for barter, where it’s highly doubtful that now worthless fiat paper currency would be accepted.

Some neighbors have advertised that they have eggs from their chickens. Some have ammo in various calibers. A number have baked loaves of bread they hope to exchange for something of like value. There’s even one neighbor who has a dairy cow and some milk. From reading SurvivalBlog.com, you wisely chose to stash away a few rolls of pre-65 silver dimes when times were still relatively good, along with a few other silver coins and even a little gold, and you are merrily on your way to the market, hoping to stock up on a few fresh commodities and other supplies. What would be considered fair market value in exchange for one of those pre-1965 90% silver dimes? In short, what’s a dime worth?

Preppers everywhere are encouraged to have some precious metals as insurance against currency collapse. Gold and silver have been money and a store of value for at least 3,000 years. That status will return after the “paper” era has collapsed. For Americans, pre-1965 coins (a.k.a. “junk” silver) are probably the most common. They are affordable, widely recognized, and trusted.

When the current fiat dollar eventually does collapse, people will quickly resort to barter. In a post-SHTF situation, the most valuable commodity will most likely be food, followed next by ammunition. Some people may make the mistake of stockpiling large amounts of precious metals at the expense of a deep larder or other commodities, thinking that they can buy all the food and anything else they may need, but they may be in for a very rude awakening. As the saying goes, you can’t eat gold. When people say to me, “I have a year’s supply of food, now what’s the next best thing to stock up on?” I recommend another year of food.

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