I have a friend who used to do exactly this. He used to be a bit of a conspiracy nut and didn’t believe in the stability (or validity, for that matter) of the US dollar. He wanted to do all his monetary exchanges in gold and silver, which were very stable and reliable at the time (about 2 decades ago).
I don’t know how exactly, but he converted any cash he earned into gold and then worked out a deal with his local grocery store to buy his groceries with tiny bits of gold.
He was a good kid, if not a little dumb. I think the grocery store humored him. Besides, gold is valuable, so they may have been just ripping him off.
If he hoarded his gold instead of spent it, he’d be up about 100% over the last five years alone. Only crypto would’ve given that kind of return in the same time span, with far greater risk.
The irony of being called an idiot by someone so dim that “taking the bars to the grocery store” is the best they could come up with. I’m not even offended.
Yeah he should have just brought them to the grocery store and paid with them. Idiot.
I have a friend who used to do exactly this. He used to be a bit of a conspiracy nut and didn’t believe in the stability (or validity, for that matter) of the US dollar. He wanted to do all his monetary exchanges in gold and silver, which were very stable and reliable at the time (about 2 decades ago).
I don’t know how exactly, but he converted any cash he earned into gold and then worked out a deal with his local grocery store to buy his groceries with tiny bits of gold.
He was a good kid, if not a little dumb. I think the grocery store humored him. Besides, gold is valuable, so they may have been just ripping him off.
If he hoarded his gold instead of spent it, he’d be up about 100% over the last five years alone. Only crypto would’ve given that kind of return in the same time span, with far greater risk.
Wow. So if he had gone without food his couple of hundreds of dollars worth of gold would have been worth a couple hundred more dollars right now.
But in terms of use as currency what he was getting ripped off by was whoever was exchanging the gold.
The irony of being called an idiot by someone so dim that “taking the bars to the grocery store” is the best they could come up with. I’m not even offended.
Breathe. Not you.
You said you wouldn’t take turn them in. So what would you do with them? How would you even begin to spend them?
… Sell them?
You’ll have to be creative, but I guarantee there are ways to keep at least half, maybe all the value, selling it off piece by piece.