3 votes

Credit Union only accepts silver dollar at face value

Needed a small hold over; called my CU and they would not deposit for full worth, so went to dealer. Question, what happens if the dollar collapses? Many folks will not have access to a dealer in their communities.



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No surprise - that's the law.

Face value is face value.

Defeat the panda-industrial complex

I am dusk icon. anagram me.

exactly...

neither establishment as fiscal agencies of the United States recognize actual metal value, only number/face value, which means they are not only the shoestrings of the Fed but are also by their practices and regulations and bylaws direct tiers of those strings.

Father - Husband - Son - Spirit - Consciousness

It's face value, until you

It's face value, until you sell it for market value, then suddenly the tax law sees it as having more value than face, so they take your money.

just melt them

just melt them

And with a little elbow grease

You can sell for 50-100% over spot. Cast your own findings:

http://www.jewelerstoystore.com/Casting_s/10.htm

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

...

A bank or credit union will exchange US minted coins for FRN at face value regardless it's composition.

All rights reserved and no rights waived.

Anyone who wants to trade in your silver...

I'll compete with your credit union and pay twice the face value :-)

Here is a good account if what a bank holiday and monetary collapse looks like:

http://www.silverbearcafe.com/private/10.08/tshtf1.html

SteveMT's picture

If the dollar collapses, then bartering for commodities starts.

Banks and credit unions will have nothing to trade for if all they have is fiat. They will cease to exist in a day. Until that time arrives, the fiat illusion will continue. They also cannot accept the real value of coins and metal. Like Petrol Dollars, everything must be converted to dollars to be accepted by them right now. Private transactions are an entirely different matter that are occurring right now. Go private if possible. Seek out the John Galts in this world. They would be more than willing to trade some of their fiat for your real money, but they may not be willing to trader it back to you.

Neither Credit Unions or Banks

will carry actual money (silver, gold) on their premises and they will not give melt/metal value in exchange for fiat dollars as they are under Federal Regulation/State Regulation to only accept FRN as legal tender.

Father - Husband - Son - Spirit - Consciousness

Answer

Folks must be able to trade within their communities.

Actually, this is really the answer to the whole thing. Think about it.