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"Not from my perch" sandwich.
"Not from my perch" sandwich.
aye nimby
aye nimby
Interesting question... does the IRS use the face value of old currency, or the metal value? If they use the face value, then you could buy your inputs in fiat, and take payment in PM coin and end up making a large tax loss (so pay no taxes). Undoubtably, the IRS would be up your ass in a second though they'd find some way to extract shekels out of you.
Interesting question... does the IRS use the face value of old currency, or the metal value? If they use the face value, then you could buy your inputs in fiat, and take payment in PM coin and end up making a large tax loss (so pay no taxes). Undoubtably, the IRS would be up your ass in a second though they'd find some way to extract shekels out of you.
12 cents is about $1.18 today, assuming you start January 1964.
Assuming you pay two Mercury dimes for the hamburger, that's .144 Troy Ounces of Silver, or approximately $3.38 in silver, assuming the coins are just junk silver. You're going to get $0.08 back, meaning you've paid $3.30 for a $1.18 hamburger.
This isn't inflation, this is kikery on a whole new level.
12 cents is about $1.18 today, assuming you start January 1964.
Assuming you pay two Mercury dimes for the hamburger, that's .144 Troy Ounces of Silver, or approximately $3.38 in silver, assuming the coins are just junk silver. You're going to get $0.08 back, meaning you've paid $3.30 for a $1.18 hamburger.
This isn't inflation, this is kikery on a whole new level.
he's referring to quarters i guess
he's referring to quarters i guess
Assuming you buy that $0.12 hamburger with a quarter, it's even worse. A quarter had 0.1808 Troy Ounces of silver, for a value of about $4.24. You're going to get $0.13 back in modern coins, meaning you've now paid $4.11 for that hamburger.
Assuming you buy that $0.12 hamburger with a quarter, it's even worse. A quarter had 0.1808 Troy Ounces of silver, for a value of about $4.24. You're going to get $0.13 back in modern coins, meaning you've now paid $4.11 for that hamburger.
yes it's a scam... but it highlights how little inflation we'd experience if we were still on the silver standard.
yes it's a scam... but it highlights how little inflation we'd experience if we were still on the silver standard.
$4.55= $91 at 20 times face for the silver coins. Also worth noting: Say you used 4 peace dollars (last silver dollars minted by the US Mint for circulation in 1935) in payment. (Forget about the .55 for now.) Those are worth approximately $30+ (for cull/damaged) dollars a piece. Those have a premium on them. If 1921 or 1928, worth considerably more due to scarcity. Coin stores will pay spot, even then, it's a rip off. Always sell privately. Once we came completely off the precious metals standard in 1964, we were prone to massive spikes in inflation. Keep your silver until you can get a modern price for it compatible with current day inflation rates.
$4.55= $91 at 20 times face for the silver coins. Also worth noting:
Say you used 4 peace dollars (last silver dollars minted by the US Mint for circulation in 1935) in payment. (Forget about the .55 for now.) Those are worth approximately $30+ (for cull/damaged) dollars a piece. Those have a premium on them. If 1921 or 1928, worth considerably more due to scarcity.
Coin stores will pay spot, even then, it's a rip off. Always sell privately.
Once we came completely off the precious metals standard in 1964, we were prone to massive spikes in inflation.
Keep your silver until you can get a modern price for it compatible with current day inflation rates.
(post is archived)