What "exactly" is money?

[lighthawk]

I was born in 1949 and when I was sixteen years old in 1965 I got my drivers license and I could buy a gallon of gasoline for 15 cents. I can still buy a gallon of gas for 15 cents. At the current price of silver a Roosevelt dime minted prior to 1964 and a war nickle (1942-1945) have a silver value of $3.59. A copper penny (minted Prior to 1981) now contains 2.8 cents worth of copper even the lowly nickel has a metal content of 6.9 cents.
Money hasn't lost it's value. Our paper currency has. Then... I could take a paper dollar into the bank and recieve in exchange one silver dollar. Now... you need 22 of those paper dollars to buy that coin. See coinflation.com if your interested.
When this country gave the Federal reserve the right to control of our money supply in 1913 we were doomed.
The founding fathers knew what the bankers would do if they had that power and specifically wrote into the constitution that there shall be no currency other than gold and silver. That was why they left England to get out from under the iron grip of the bank of england.
The fact is we were sold out by the gubmint decades ago and what is happening now is by design. Not by happenstance.
The gold and silver window are about to slam shut and for all practical purposes these precious metals are soon to be priced out of the range of the average consumer. Stay away from WE BUY GOLD stores, hang onto every ounce you have and sell none of it unless you are destitute. That is my best council. Take or leave it for what it's worth.

 

[Wannabefree]

I just sold 3 ounces of silver last month to help pay a bill I agree, I just can't hang onto any of it :/

 

[abifae]

Money is an abstract agreed upon way to make growing apples comparable to fixing a computer

Gold and silver are only "money" because we've agreed on it. They are scarce and don't turn to rot in your pocket.

I love the concept of money. It's pretty funny. If you think about the evolution of sharing to bartering to monetary systems...

 

[SKR8PN]

I invest in lead. With lead I can protect my land and hunt. With lead, I can get all the gold and silver I want. But why would I want any, you sure as h e l l can't EAT it!

 

[FarmerChick]

with metal detecting I am learning about silver in coins and values/rarity etc.

the metal detecting people love to find "the silver" and "the gold"
oh yea they are obsessed lol

 

[k0xxx]

I invest in lead. With lead I can protect my land and hunt. With lead, I can get all the gold and silver I want. But why would I want any, you sure as h e l l can't EAT it!

No, you can't eat it. Gold and Silver are not ways to make money or wealth (at least for most of us), they are a way to store wealth.

Inflation is not a matter of things costing more, but rather "money" being worth less. By owning gold and silver you store your wealth until needed and then exchange it for whatever passes as money at that time. If the money collapses to being worthless, your stored metals retain their value when traded for goods.

As for the idea that "With lead, I can get all the gold and silver I want.", those that can afford to store wealth in precious metals can usually afford a lot more in the way of lead. Good luck with that.

"Shoot low. They may be riding Shetlands."

 

[patandchickens]

I don't think gold and silver are much less arbitrary than paper money, just harder for gov'ts to decide to inflate (you can easily print more paper money, whereas you only got as much precious metals as you are able to get outta the ground).

It is still just a social agreement to treat them as valuables, and social agreement on HOW valuable they are. Not some property inherent in the chunk o' metal.

It's all arbitrary, to a very considerable degree.

Pat

 

[Wifezilla]

Since I can't buy gold, I do have copper (pre 1982 pennies and nickels of any year). Occasionally I find some silver and that goes in the stash too. The "fake" coins (newer stuff with no precious metal content) and small bills I accrue get changed in to rolls of nickels as well.

They are still worth their face value regardless, so there is no loss to having them. Plus I can always use them to line my bunker or put some rolls in a sock and beat someone with it if I have to

 

[lighthawk]

Wannabefree... Sorry to hear that. IMO you sold at rock bottom prices.
Abifae... Not only does it not "rot" in your pocket it has antibacterial properties.
SKR8PN...Doubt you have that much lead and even though you can't eat it, it can pay the bills as wannabe pointed out.
Farmerchick. My mother got me interested in collecting old coins back in the early 60's been carrying on with it since. I inhereted her collection when she passed. Bless her soul.
KOxxx... Exactly. Precious metals preserve your purchasing power.
Pat... Maybe so but it has been the accepted "chunck o' metal" for thousands of years. Whereas the toilet paper we use now was forced on us by none other than "tricky" Dick Nixon acting on behalf of JP Morgan and the federal reserve. Also as for inherent properties silver is the only metal on earth that will not allow bacteria to grow and gold and silver are the best conductors of electricity known to man and while most of the above ground gold is retained in the form of jewelry, silver is quickly disappearing into landfils around the world in cast off electronic products.
Wifezilla. Wise to put them away. Even up till last year I would find 5 out of 10 copper pennies in my change at the end of the day. Now I am lucky to find one. The new pennies have about 6 tenths of a cent worth of metal and that is mostly zinc. I get ridiculed by friends because I am constantly asking how many nickles they have in their pocket and trading them for a worthless quarter or dime. Besides they add enormous weight to the safe.

 

[framing fowl]

Since I can't buy gold, I do have copper (pre 1982 pennies and nickels of any year). Occasionally I find some silver and that goes in the stash too. The "fake" coins (newer stuff with no precious metal content) and small bills I accrue get changed in to rolls of nickels as well.

They are still worth their face value regardless, so there is no loss to having them. Plus I can always use them to line my bunker or put some rolls in a sock and beat someone with it if I have to

I never thought about that before... I need to double check my change jar! Where do you find the silver? Is that in a certain year of dimes?