In the face of long-term inflation, increasing numbers of people are losing faith in the dollar, trading their ‘Federal Reserve Notes’ for assets that they believe will hold their value better. The past few years have seen massive interest in crypto, gold, silver, firearms, and many other assets. But it isn’t just for investing or wealth preservation. Many people are already using the alternatives as real currency for everyday purchases.
Heavy Metal Construction, a veteran-owned mint, is located in southern New Hampshire. The founder has been working with precious metals for years, and now has a staff of nine local community members helping him create the new money. The items are sold from the ‘Local Silver Mint’, located at 33 N Stark Hwy in Weare. The bars range from under an ounce all the way up to ten full ounces of pure silver. The shop also carries plenty of gold and silver from other mints, other locally-made products, and old coins from back when they contained real silver. But if you ask the owner, who is known in the community as ‘Silver Dave’, he will tell you that he is most excited about what he calls the ‘silver bits’.
The bits are not meant for ‘stacking’ silver to preserve large amounts of wealth for long term savings or investment. They were created to be utilized like money – to exchange for goods and services. “We made them .925 instead of .999 so that they are more durable. They will be used like coins, so they can’t be too soft. Coins are minted in .90 silver, and the blending of harder metals makes them much more durable. This isn’t for stacking, it’s to be used as money. Over the past few weeks, some stores in the area have begun to accept them, and we expect many more to come on board as inflation continues to eat away at their revenues”, Dave explained.
Years ago, Dave created the ‘silver card’, which is a one-ounce piece of pure silver that has the same shape of a credit card. It fits in a wallet very easily, and could be cut with a pair of scissors for infinite divisibility. Cards are available at the shop for $7 over spot.
The inflation numbers may actually be the most powerful tailwind for the #PayWithSilver movement. The federal government announced Tuesday that the annual inflation in August was 8.3%, marking the 8th straight month of inflation that’s 7.5% or higher. If the government measured inflation the same way it used to, the real number would be closer to 15 or 20 percent.
Some people choose to use silver or other forms of money for other purposes, though. Many anti-war activists in New Hampshire believe that the less they use the DC Empire’s money, the less power the war-monger politicians have. A local libertarian explained that “The less the dollar is used, the less valuable it will become…and once their money is worth so little that the defense companies won’t even accept it, they won’t be able to pay for their wars. In a sense, using alternative currencies can help bring about world peace!”
Earlier this year, the small mint fulfilled a large order of the silver bits for JMbullion.com, and is working with other major online retailers to get the new money into the hands of as many individuals as possible. The bits sell for around $3.50 each, and the price decreases as the quantity increases. And local businesses are valuing them at $3.50 when customers use them to make a purchase. As the ideas of sound money and ending the wars catch on, and as inflation continues to destroy people’s salaries and savings, many expect the silver bits, goldbacks, crypto, and other forms of currency to gain popularity, and eventually supplant the dollar as the primary form of money.
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