I am starting to get some good home produce going and wanted to sell some (and buy some from friends of mine) for silver coins. How should I go about figuring out the pricing? Any thoughts on this?
(and sorry if this isn't the right forum for this question)
being that FRN's are so close to complete worthlessness, i have used the silver coins values at www.coinflation.com to determine what is going on in REALITY with real money that HAS intrinsic value which was so graciously taken away from us in the us of a in 1965.
i try not to think in terms of FRN's, but the FRN value of silver. So today for instance, when silver was at $41.73 fiat FRN's, a dime is just over $3.00. therefore, a $2.99 loaf of bread in the store is about a dime.
see how that proves in REALITY we are in a depression. it's hard not to think in terms of fiat, because it surrounds us and it used almost everywhere and in everything in the us of a. however, once you start to use the real money as a reference for the price it becomes easier to do on a daily basis.
obviously the silver price in FRN's changes daily, or hourly for that matter, but you can arrive at an average price you are willing to accept that can be adjusted as needed weekly or every few days.
i read an article today where a gas station is advertising gas for 20 cents a gallon if paid for with pre-65 silver dimes, quarters, halves and dollars. that article also showed a chart that demonstrated the 20 cent price has been the average cost of a gallon of gas since 1918!!! so we can also see HOW silver holds it's intrinsic value as well over the years.
congrats on considering using real money in all your transactions reefman, it is a step in the right direction that we all need to take. i quit selling on eBay because i avoid banks and FRN's and accepting silver coin in payment is not an option for eBay sales. yes, i could convert sales, but like i say, FRN's are a plague on this once great nation (hence my moniker) and i choose to avoid them as best as i can.
hope this helped you out sir.
I had that same thought and question.
If we are not denominating in current federal reserve notes, then one would need to compare a food price chart while the US was on the silver standard. I believe that was in 1963, wasn't it?
I read that JFK wanted to return the USA to a silver standard and signed that order in the Summer of 1963.
Therefore, the 1963 prices would be the same prices in 1963 currency.
The 2011 prices are likely to be inflated to the same extent as silver is inflated in USD-FRN's.
I'm sure someone can confirm this.
Thanks ETFA! Very good info.
StrongSide - that is an interesting idea - use 1963 prices.
I wonder if there are charts of pricing of basic goods (fruits/vegetables/grains etc). I'll have to dig around and see what I find. I am also interested in older pricing - like going back to the 1800's to compare the difference.
$.20 in pre 65 dimes are currently worth roughly $5.75 . That gas station is getting over on someone.