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Trading with Gold and Silver....Is the Barter System Gaining Appeal?

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posted on Apr, 28 2012 @ 10:33 AM
Just like many of you, I like to dabble in precious metals (gold and silver) and metals that maintain a steady industrial value such as copper. Copper rounds are a particular favorite of mine but I also have a soft spot for crystalinne silver nuggets when the price is right.

Yesterday, the wife and I were heading out the door to find a new mattress for my son's bed and checked the mailbox on the way out hoping my last silver purchase had arrived. It had and I took the small package with me, opened it and inspected it while we drove to the store, and I simply stuck it in my pocket for safe keeping.

After perusing the mattress selection at one of our local shops and talking with the manager about our needs, he informed us that the store branch across town had a better selection and would be a better place to look. I asked him if the other store accepted checks and he smiled and said...." Yep, and I'd bet he would take small farm animals as well!".

At that moment we just smiled and made our way to the other store.

As expected, the mattress we needed was found at this second location. The price was a bit higher than we hoped but it was perfect for what was needed. I began to haggle with the manager on the price and we eventually were unable to come to an agreement. I had a good idea of what their general cost was and I was not about to get bent over for a damned mattress.

Just then the comments made by the other shop manager popped into my head. I thought to myself, "why not?"! I did not have any small farm animals....but I do have something else. I reached into my pocket and tossed the silver nugget on the table counter in front of the manager. I asked him if he would trade the silver for the mattress!

He picked it up and looked at it for a few seconds...eyes bright like he had never seen such a thing.

To my surprise he took it! He happily agreed to the trade and I loaded my truck as soon as I could because I knew the silver was 1/3rd the value of what he wanted for the mattress. Regardless, he took it!

So what is the moral of this story? Honestly, I don't know. It would be a stretch for me to say that the American consciousness is more open to barter goods and services with precious metals just because of one particular experience I had. But it's possible.

If economic momentum continues it's trend and metals maintain their value, we will see this sort of story become common among our day-to-day dealings. Diversifing your wealth in such commodities has always proven to be, at worst, a great hedge bet to keep above inflation and if the dollar collapses it would be a way to maintain some wealth when paper and credit bottoms out.

Thanks for reading!

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