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Grocery Stores Begin To Accept Silver

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posted on Mar, 10 2011 @ 12:39 PM
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I think it's only a matter of time before this becomes common, if for no other reason than it could be a way of making good profits for a store. It will be interesting to see how many shops begin to employ this method.



None of the stores in my area (that I know of) are doing this, except those who exclusively buy and sell gold/silver.




posted on Mar, 10 2011 @ 12:56 PM
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Interesting. Silver has been enjoying a bit of a rally recently and is currently trading around 35.5 USD an ounce.

An ordinary shopkeeper in a bullish market stands to make profit as you say by accepting silver as payment but he/she would need to convert the silver to cash in order to buy from his suppliers to re-stock . To avoid day-to-day volatility that conversion would need to be done daily/quickly.

In a bear market the shop keeper could easily lose money also. I would be interested to see the mechanics of this in action.

If supplies are still being purchased using paper money but then sold by accepting silver a currency risk exists. The only way it can truly work with no risk is to be buying and selling using the same commodity .



posted on Mar, 10 2011 @ 01:12 PM
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True, it could pose a risk but there are always risks to owning your own shop anyway. If this become somewhat common, its nice to know i can walk into a store with some scrap jewelery or old coins and be able to buy my dinner at the same location if money is tight.



posted on Mar, 10 2011 @ 01:32 PM
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did I see that correctly???
the dimes were actually worth more than
10 cents if you count it by silver weight
than by the legal tenderness of the dime.

And I just learned something.
I didn't know that dimes were 90% silver.
Maybe somebody should post a comparison
chart to see the % rate of silver per each
US Minted Coin so the consumer don't get
ripped off when he tries to purchase items
from a con artist.

Also, I think it's time to start rolling all that spare
change I empty out of my pockets on a daily basis.



posted on Mar, 10 2011 @ 01:49 PM
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reply to post by boondock-saint
 


Here's a good online calculator to value your silver:

www.coinnews.net...



posted on Mar, 10 2011 @ 03:18 PM
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Originally posted by boondock-saint
did I see that correctly???
the dimes were actually worth more than
10 cents if you count it by silver weight
than by the legal tenderness of the dime.

And I just learned something.
I didn't know that dimes were 90% silver.
Maybe somebody should post a comparison
chart to see the % rate of silver per each
US Minted Coin so the consumer don't get
ripped off when he tries to purchase items
from a con artist.

Also, I think it's time to start rolling all that spare
change I empty out of my pockets on a daily basis.


yes that's true but only for dimes pre-1965 , none of the regular circulated coins are made of silver anymore.



posted on Mar, 10 2011 @ 03:27 PM
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I had always heard that silver was your best investment when SHTF,that it would out perform gold,it's more manageble as far as the price per ounce to buy.
And I have been thinking for awhile on starting to aquire silver,but just wasn't sure how.
Now I know,the local pawn shop or coin dealer for those pre-1960 coins.
Thanks for the info S&F for you.




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