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ECON Need Some Advice from the Hive
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  1. #1

    Need Some Advice from the Hive

    We are attempting to put some cash aside as suggested by so many.

    I have been trying to get $10s and $5s, thinking that if there is an economic reset, I wouldn't have to use $20 to buy something that today costs a dollar.

    Every time I try and get these denominations from my bank, they struggle to get them "out of the vault since nobody uses those bills much anymore."

    On the other hand, my DH thinks we should be trying to save as many $20s and $50's as we can.

    Advice?
    For those who believe in the Resurrection, death is inconsequential
    http://needgoodnews.com

  2. #2
    Not advice really, but you might be surprised how fast saving change and one dollar bills adds up. If you would save those and the larger bills, you would have both ends covered.

  3. #3
    Join Date
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    My advice is to consider the humidity level of your area and think about how you will store paper money: it will start to get icky/moldy if you aren't careful. Depending on how much you plan to store you might look into systems for storing cigars. Those will work for money, too. If you don't have much, you can toss some packets of silca crystals into a mason jar.

    Do check your paper money periodically and rotate it out if it's getting nasty. Some preppers only store new, uncirculated bills for that reason. Others store junk silver and rolls of present-day coins.

  4. #4
    Join Date
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    It's probably a little late to start now, but 1ozt silver rounds will hold their value better than paper currency which can be recalled or canceled by the issuing government.
    If at first you don't secede, try, try again!

  5. #5
    You can toss the bills in a pillowcase and throw them in the washer

  6. #6
    Join Date
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    Mississippi
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    Gold, silver. 5, 10, 20, and 100 dollar bills. All pocket change including one dollar bills.
    Sherree

  7. #7
    Go to the store with a $100. Get one thing. Keep back all the little denomination bills. Go to next store. Buy one thing. Rinse and repeat. The things you buy should be things you need, not just junk so they give you change. Been doing this for years and don't have to bother the bank. At the end of the month, you can store your bills so they stay fresh and dry. See you next month and do it again.

    Another little trick for saving in hard times is to spend the largest bill you have. Make one purchase and keep the remainder. Don't spend it. Put it away so you are not tempted to convince yourself it is hard times and you need it. Out if sight out of mind.

    If you are paying for a $1.00 item, drag out a $100 or a $50. Keep that change. If your item costs five cents, whup out a dollar. It adds up. Save all your change (coins). Only pay with bills. Roll your change and go to the bank once a year to get it changed into bills. Put those away too.
    Don't be dismayed by goodbyes. A farewell is necessary before you can meet again. And meeting again, after moments or lifetimes, is certain for those who are friends. --Richard Bach

  8. #8
    Quote Originally Posted by Jonas Parker View Post
    It's probably a little late to start now, but 1ozt silver rounds will hold their value better than paper currency which can be recalled or canceled by the issuing government.
    You wouldn't want to spend those for most transactions.

  9. #9
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    Quote Originally Posted by Seeker22
    Save all your change (coins). Only pay with bills. Roll your change and go to the bank once a year to get it changed into bills. Put those away too.
    My mom has done this for years, rolling dimes and quarters. She has amassed quite a large nest egg, hidden of course.
    Sherree

  10. #10
    During flu season, I toss the cash I get out of the bank on Social Security day into a little container of alcohol and leave it there for a few hours or even overnight. I would imagine this would help it last longer and not get nasty as easily if one wanted to store it away.

    I usually shop the same day and any change I get back also goes into the container.

    I would think that paper money could be the best (worst?) way in the modern world to spread diseases.

  11. #11
    IMPHO a variety is best. Save hundreds and then break, as mentioned above.

    Hundred won't take up as much room, so suit yourself. You can stick 5-10 hundreds in your wallet, and go in an emergency. It would be hard to do that with the equivalent, lower denom's. However it would still be good to have a few, also in an emergency, if the power is out, when unable to get change.

    We also drop change in mason jars.

    All this so long as the currency is good, which it will be in most cases. Once the currency blows, gold and silver, in various forms is all that will work.

    I would also suggest this:

    Don't have all your eggs in the same basket. Have some in savings (in case someone robs your home) have some in a good big gun safe in your home in case, the bank has a holiday, or power is out for a while. Have some on your person. In case, well just because.
    "Wise Men Still Seek Him"-bumper sticker

    "Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other."-John Adams
    ďThe rifle itself has no moral stature, since it has no will of its own...."- Jeff Cooper, Art of the Rifle

  12. #12
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    Quote Originally Posted by evenso View Post
    We are attempting to put some cash aside as suggested by so many.

    I have been trying to get $10s and $5s, thinking that if there is an economic reset, I wouldn't have to use $20 to buy something that today costs a dollar.

    Every time I try and get these denominations from my bank, they struggle to get them "out of the vault since nobody uses those bills much anymore."

    On the other hand, my DH thinks we should be trying to save as many $20s and $50's as we can.

    Advice?
    I'd go with the small bills too.

    Back after the 2008 crash, many place were trying to sell silver bars. I would tell them, "Your insane if you think I'm giving an entire silver bar for a loaf of bread!"
    My Message to the Fake Stream Media......
    https://www.youtube.com/watch?v=FhSy-6VqIww

  13. #13
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    All the fives and tens must be in Las Vegas because I have no problem and keep a stack of fives for tips or if I need to valet park somewhere.
    Tiger

    ~*~*~*~*~*~*~*~*~*~

    For I am persuaded, that neither death, nor life, nor angels, nor principalities, nor powers, nor things present, nor things to come, Nor height, nor depth, nor any other creature, shall be able to separate us from the love of God, which is in Christ Jesus our Lord.

    Romans 8:38-39

  14. #14
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    I have stopped at several different banks to exchange hundreds for smaller bills with no problems (you don't have to have an account there). My wife likes to have a bunch of fives and tens to send to family kids for birthdays so we often stop for more small bills.
    I stored cash in our little safe in the basement when we lived in very humid Minnesota with no problems.
    Keep saving and just store whatever bills you happen to get. The main thing is to keep trying to save some cash for emergencies.

  15. #15
    When make a purchase, keep all $10, $5, $1 bills. Put all change in jars, buckets at home, roll them up. If you acquire silver, stick with "junk" silver. Check coin shops, pawn shops, etc.
    "No one ever rescues an old dog. They lay in a cage until they die. PLEASE save one. None of us wants to die cold and alone... --Dennis Olson "

    Si vis pacem, para bellum

  16. #16
    Quote Originally Posted by Martinhouse View Post
    During flu season, I toss the cash I get out of the bank on Social Security day into a little container of alcohol and leave it there for a few hours or even overnight. I would imagine this would help it last longer and not get nasty as easily if one wanted to store it away.

    I usually shop the same day and any change I get back also goes into the container.

    I would think that paper money could be the best (worst?) way in the modern world to spread diseases.
    I deep clean something in the house, toss all the rags in the washer with bleach and soap and any bills that are needful. They are fabric, not paper. This takes care of things nicely. You can use the dryer, or just lay them out on a towel. If you are lucky, you will need several towels.
    Don't be dismayed by goodbyes. A farewell is necessary before you can meet again. And meeting again, after moments or lifetimes, is certain for those who are friends. --Richard Bach

  17. #17
    Join Date
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    Quote Originally Posted by evenso View Post
    We are attempting to put some cash aside as suggested by so many.

    I have been trying to get $10s and $5s, thinking that if there is an economic reset...
    In an economic reset...

    Deo adjuvante non timendum - With God Helping, Nothing is to be Feared
    "You are like a pit-bull..." - Dennis Olson
    "No man knows but that the last backward glance over his shoulder may be his last look, forever." - Ernie Pyle Born: 1900 KIA: 1945 Shima, Okinawa

  18. #18
    I'm fond of $1.00 USDs featuring Currency Straps (https://en.wikipedia.org/wiki/Currency_strap). The notes are more compact and in excellent or new condition. Banks in my AO tend not to feature new notes until late Fall of each year. YMMV.

  19. #19
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    North Georgia Mountains
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    1,240
    I would store $1, $5, $10 and $20's. I would not go with any bill higher then a 20 because even in the best of times some places do not take larger bills.

    If you think you will need to make larger purchases and if funds allow then also store $100's but remember hundreds are more prone to counterfeiting so know the risk.

    Also depending upon your thinking a couple of rolls of american silver eagles. Beware of risk of fakes like in the below link

    tbd

    https://www.ebay.com/itm/2019-1-oz-A...4383.l4275.c10

  20. #20
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    Quote Originally Posted by twobarkingdogs View Post
    I would store $1, $5, $10 and $20's. I would not go with any bill higher then a 20 because even in the best of times some places do not take larger bills.
    Honestly, if we're to the point where cash becomes this important, I wouldn't worry about the denomination because you're going to buy whatever you can get while it's there to be got.

  21. #21
    I've always preferred smaller denominations because I'm clumsy and if one bill gets dropped, maybe even blown away, I haven't lost as much as I would if it had been a large bill.

  22. #22
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    Quote Originally Posted by Blacknarwhal View Post
    Honestly, if we're to the point where cash becomes this important, I wouldn't worry about the denomination because you're going to buy whatever you can get while it's there to be got.
    Remember OP wanted advice on how to store cash and how to not overpay for an item because all they stored were twenties. I'm sure that they and any others that store cash have thought through the whys.

    As an example a terrorist attack takes out a major internet backbone site which knocks off the credit card processing services leading retailers to only take cash. The government says otherwise but you think that this is just the first inning of what could be larger and more disruptive attacks. So since you have a stash of bills at home you can go shopping to pick up your needed supplies. Clueless and less prepared credit card folks sit at home waiting for the government to solve their problems and tell them that all is well. Which camp do you want to be in.

    tbd

  23. #23
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    Quote Originally Posted by twobarkingdogs View Post
    Remember OP wanted advice on how to store cash and how to not overpay for an item because all they stored were twenties. I'm sure that they and any others that store cash have thought through the whys.

    As an example a terrorist attack takes out a major internet backbone site which knocks off the credit card processing services leading retailers to only take cash. The government says otherwise but you think that this is just the first inning of what could be larger and more disruptive attacks. So since you have a stash of bills at home you can go shopping to pick up your needed supplies. Clueless and less prepared credit card folks sit at home waiting for the government to solve their problems and tell them that all is well. Which camp do you want to be in.

    tbd
    See, I didn't think it would matter. You would never really overpay for an item because you likely wouldn't buy just one item. You'd buy to the limits of your available cash. Besides, any cash left after such an event would probably be devalued to worthlessness anyway.

  24. #24
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    Take it from experience. (Katrina/no credit cards and checks accepted) Cash will be King, so keep loose change, smaller bills, 1's, 5's, 10's & 20's is preferable.

    You'll get a relieved smile from the cashier if you hand in exact amount & don't ask for change back.

    Save your $50's & $100 for a bribe.

  25. #25
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    Quote Originally Posted by FreeSpace View Post
    You can toss the bills in a pillowcase and throw them in the washer
    I’m not going there
    "...Cry 'Havoc' and let slip the cats of war..."
    Itís a real pisser when your belief system gets T-boned by reality.
    Iím not afraid of dying...I just donít want to be there!
    ...sell your cloak, and buy a sword...Second Amendment 1.0

  26. #26
    Keep a mix of bills, both small and larger denominations. And diversify...... not necessarily in terms of coins/silver/gold, (which is prudent) but the locations in which you keep the cash. Keep some in a safe in your home. Keep some in a concealable spot in your car Put some in a coat you are likely to grab when it's time to bug out. That way, if you do have to bug out quick and can't get at your primary stash, there are other stashes of cash so you're not caught flat footed and broke. Think like a squirrel hiding nuts for winter.

    Taking a large bill into one place, making a purchase and keeping the change, then whipping out another big bill in another place for another purchase, etc.-you need to be careful. One, that looks suspicious (it's also a ploy used by people to mix up a cashier and have them end up giving you back more cash than your'e supposed to. Africans like to play that game in grocery stores). Two-if you're doing it in one geographical area like a shopping center, look over your shoulder. Dollars to donuts someone is going to pick up on what you're doing and your'e going to end up getting robbed.
    Counterfeiters use that trick as a common laundering ploy when they're trying to move bogus bills. Remember, "Grey is good". Do the bill swap once a day, at one place in one town. Next day, do it once in another area, etc. Keep it grey. You don't want people to know you have that kind of cash on hand to start with, and you for sure don't need to flash it around to the point someone picks up on it.

  27. #27
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    Quote Originally Posted by Meemur View Post
    My advice is to consider the humidity level of your area and think about how you will store paper money: it will start to get icky/moldy if you aren't careful. Depending on how much you plan to store you might look into systems for storing cigars. Those will work for money, too. If you don't have much, you can toss some packets of silca crystals into a mason jar.

    Do check your paper money periodically and rotate it out if it's getting nasty. Some preppers only store new, uncirculated bills for that reason. Others store junk silver and rolls of present-day coins.
    Will vacuum sealing it work?

  28. #28
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    Vacuum sealing set denominations of paper money would be a good idea. At first I would recommend mixed small denominations, 1's, 5's, 10's and 20's. Keep a few 50's and 100's on the side and then work on coinage. Any spare change and then 90% silver, so called junk silver.



    For most emergencies your cash will work fine.



    As time goes on and things start to get froggy then your coinage comes into play and last but not least your PM's, precious metals, gold and silver. Regardless of what the government/TPTB do regarding paper money PM's will still hold their value. After all, gold and silver are REAL currency. Everything else is FIAT.....i.e. fake. The only value it has is what your faith puts into it.
    We have done so much, with so little, for so long....We can now do anything, with nothing, forever.

  29. #29
    the $50 is the new $20.

  30. #30
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    Quote Originally Posted by Martinhouse View Post
    During flu season, I toss the cash I get out of the bank on Social Security day into a little container of alcohol and leave it there for a few hours or even overnight. I would imagine this would help it last longer and not get nasty as easily if one wanted to store it away.

    I usually shop the same day and any change I get back also goes into the container.

    I would think that paper money could be the best (worst?) way in the modern world to spread diseases.
    The White Plague by Frank Herbert.

    I have one of those zippered bank bags full of 1's mostly, a few 5's and 10's, but mostly just 1's. Times get hard I am going to be pulling a grubby handful of 1's out of my pocket to pay for stuff.
    "Every normal man must be tempted, at times, to spit upon his hands, hoist the black flag, and begin slitting throats."

  31. #31
    EYW, I could be wrong but I believe The White Plague was by James Herbert. I wondered if I should mention it here, so I'm glad you did. It was a really good book!

  32. #32
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    Nope, it is Frank Herbert, the author of Dune. Here is an Amazon blurb:

    From Science fiction grandmaster Frank Herbert, creator of the Dune universe, comes this novel of bioterrorism and gendercide.

    What if women were an endangered species?

    It begins in Ireland, but soon spreads throughout the entire world: a virulent new disease expressly designed to target only women. As fully half of the human race dies off at a frightening pace and life on Earth faces extinction, panicked people and governments struggle to cope with the global crisis. Infected areas are quarantined or burned to the ground. The few surviving women are locked away in hidden reserves, while frantic doctors and scientists race to find a cure. Anarchy and violence consume the planet.

    The plague is the work of a solitary individual who calls himself the Madman. As government security forces feverishly hunt for the renegade scientist, he wanders incognito through a world that will never be the same. Society, religion, and morality are all irrevocably transformed by the White Plague.
    "Every normal man must be tempted, at times, to spit upon his hands, hoist the black flag, and begin slitting throats."

  33. #33
    Thanks for the blurb. I must be confusing two different novels because I'm remembering things that can't possibly be from the same story line.

    Old age sure is interesting. Maybe I can find my copy of the book. If I've forgotten so much, I'll enjoy it all over again!

  34. #34
    I have always put my change from my day in a jug. When it's full, I wrap it up and put it away. Many times, that has saved my hide when hit with something big.

    Other than that I'm not able to put anything aside in paper money.

  35. #35
    Join Date
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    A few post up, it was said that the computers go down, cash would be the way to go but a few months ago, our Kroger's computers went down and they would not accept cash. Lines were a mile long and my husband even tried to pay for a small item at the service desk and they wouldn't take it. Only reason I could come up with is maybe the cash drawers wouldn't open but that's pretty far fetched.
    God is pro-life!

  36. #36
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    Something else to think about. Now this will be very difficult, extremely hard, seemingly impossible, but here goes.

    GET OUT OF DEBT!!

    By hook or by crook, anyway you can. DON'T OWE ANYONE ANYTHING!! Don't accrue new debt. Go CASH and CARRY if there is any way possible. Buy gently used or do without if necessary. Maintain what you have. STOP wasting your time, your money and your effort. Get FRUGAL!! Simplify - simplify - simplify.


    There is ABSOLUTELY more liberating that being out of debt! That is FREEDOM!!
    We have done so much, with so little, for so long....We can now do anything, with nothing, forever.

  37. #37
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    Quote Originally Posted by Maryh View Post
    A few post up, it was said that the computers go down, cash would be the way to go but a few months ago, our Kroger's computers went down and they would not accept cash. Lines were a mile long and my husband even tried to pay for a small item at the service desk and they wouldn't take it. Only reason I could come up with is maybe the cash drawers wouldn't open but that's pretty far fetched.
    Items are not price stamped and they cannot scan the UPC code to determine the price, nor can they add up more than one item or calculate the sales tax.
    "...Cry 'Havoc' and let slip the cats of war..."
    Itís a real pisser when your belief system gets T-boned by reality.
    Iím not afraid of dying...I just donít want to be there!
    ...sell your cloak, and buy a sword...Second Amendment 1.0

  38. #38
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    Quote Originally Posted by Maryh View Post
    A few post up, it was said that the computers go down, cash would be the way to go but a few months ago, our Kroger's computers went down and they would not accept cash. Lines were a mile long and my husband even tried to pay for a small item at the service desk and they wouldn't take it. Only reason I could come up with is maybe the cash drawers wouldn't open but that's pretty far fetched.
    The computers being down at a store is different then the internet being down knocking of the credit card machines. The POS system from which the price is obtained after scanning the UPC is usually stored on a server in the back room. So if that server is up then the registers will work.

    However there are projects underway to get rid of servers in the store locations to free up head count. When these 'upgrades' become live then the internet will be required to perform that pricing lookup and the lose of the internet will mean the store will be unable to sell anything. Not a good thing in my opinion but its all about saving money.

    tbd

  39. #39
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    Saving change might be a good idea. There is a theory that if the gov has a monetary re-set and makes a new currency, that they will use the same coins due to the cost of minting new ones. That could mean the standard coins would have a much higher value.
    Also most people don't notice the loss of the coins if they save them and they do count up.

  40. #40
    Quote Originally Posted by hiwall View Post
    Saving change might be a good idea. There is a theory that if the gov has a monetary re-set and makes a new currency, that they will use the same coins due to the cost of minting new ones. That could mean the standard coins would have a much higher value.
    Also most people don't notice the loss of the coins if they save them and they do count up.
    When the market crashed in 29 within 6 months there were very few coins in circulation. Most went into Canada to be melted down. People with little means looking for a safe short term haven. http://www.ebay.com/sch/i.html?_from...nnies&_sacat=0

    Same with nickel nickels.

    Now you up your assets and predicament to extremes, then 5 carat and above(whatever you can swallow) investment grade diamonds.

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