Have you or do you plan to purchase silver or gold in the very near future? Has the news of the day gotten you drooling over Lakota silver rounds or other AOCS barter rounds? If so, you are not alone.
The current uncertainty about the national and global economy has many people concerned about everything from runaway inflation to complete economic collapse. Could the US Dollar go the way of the Zimbabwe currency? How can individuals and communities protect themselves in the event of the collapse of our currency?
Historically, gold and silver have been viewed as an inflation proof store of value. Whenever people get concerned about economic instability, they start buying silver and gold. The thinking goes something like this: if I own silver and gold and the value of the dollar falls, I can hang onto my silver or gold and sell some of it off for dollars right before I need the money. The value of the metal would remain the same and in a situation of inflation, I would receive more dollars for it than I paid when I bought it. A more extreme version of the thinking holds that in a total currency collapse people who own gold and silver can start using it to buy what they need.
Stocking up on silver and gold as you have the ability is definitely a good idea, and AOCS barter medallions are an excellent choice. However, individuals have to consider the limitations. Just because gold and silver are precious metals does not mean that in a crisis everyone will suddenly know what to do with them. It has been years since the US currency was made of or even backed up by silver or gold so many people have never seen these metals.
The key is actually to approach using silver and gold as money on a community level. Communities as a whole can place a hedge around their local economies by introducing commodity backed treaties (often known as silver currencies) into circulation.
Several communities in the US are beginning the process of circulating their own commodity backed contracts. Some examples are the Mattole Self-Sufficiency Project, Shire Silver, Community Dollar, Northern Colorado Community Barter, and Boulder Currency. There is even a virtual country called Wirtland with its own silver and gold pieces mean to circulate as currency.
Each community issuing a silver currency takes a different approach. For example, Shire silver is locally mined using a homemade striking device, whereas the Mattole Self-Sufficiency Project uses an industrial mint. There are also different approaches in how the silver is valued. The value of Mattole money is closely tied to the spot price of silver and as a result changes repeatedly. Community Dollar, Northern Colorado Community Barter, and Boulder Currency all adhere to a face value of fifty (usually interpreted as mean fifty dollars) for one ounce silver rounds used in their communities. This allows for the currency's value to be perceived as more stable.
Not all communities issuing a silver currency are starting from scratch. The American Open Currency Standard is a system of commodity backed currencies intended to circulate anywhere in the United States. AOCS is best known for its Lakota silver rounds. However, it has also produced the Go Local Local medallion and a series of rounds promoting various educational and ideological causes. Most AOCS barter rounds have a face value of fifty per ounce, allowing them to trade around the country at equal value. Most importantly, AOCS works closely with communities who wish to issue a silver currency and can streamline the process of designing and minting the physical currency pieces.
Of the examples listed above, Northern Colorado Community Barter and Boulder Currency both use AOCS currency within their communities. AOCS barter medallions also have a strong presence in Dallas, Fort Worth, and Austin, TX, as well as in some parts of the Great Lakes region, and in the Lakota and Soto Nations. As the economy continues to limp along, the presence of AOCS currency is only going to increase.
All of this makes AOCS barter medallions an excellent choice for people who are looking for silver rounds for sale. AOCS Mint has recently reduced the minimum order requirement on most AOCS barter medallions making it very affordable to get started. In addition, AOCS Mint has recently started the AOCS coin club, where you can automatically pay a set amount of dollars in exchange for a shipment of AOCS silver each month. If your community already has an AOCS currency, you will be able to immediately spend your AOCS barter medallions at face value. If your community does not yet have an AOCS currency you may still find a merchant or two who will accept it, or you could be the one to get the ball rolling on starting one.