The Nickel dollar: a debt-free tangible currency

I’d first like to state that it’s none of my business which currency people choose to utilise throughout the huge country known as the USA.  I have never even visited America, but that doesn’t mean I cannot or should not comment on events around the world as they unfold – free speech and all that!

In fact, I welcome perspectives from abroad regarding the situation us people of ‘Ol Blighty find ourselves in as I believe we each view the world from our own unique ‘angle’.  The ‘angle’ of those folk overseas can often prove to be useful.

I consider monetary issues quite a lot these days, and as the current system is global, I have naturally analysed a variety of data and opinions in different parts of the world.

I firmly believe that the majority of areas within the currently recognised zone called the United States will return to some sort of commodity-backed currency or currencies.

I’m not 100% certain of the quantity of silver and gold bullion in the States.  I’m sure it’s a helluva lot more than us Brits but the treasury of the US fully admits that they’ve no longer got any silver in storage, and although many silver mines exist, there is the likelihood that physical gold and silver will not serve as currency in many parts of the United States.  God knows how much gold is held at Fort Knox, but would you trust a government-backed ‘gold certificate’ without a full audit?  And whom would you trust to conduct a full audit?  Just because a fiat now has gold-ink upon it does not mean it is gold.

Gold and silver will be money, but will only serve as currency money in areas rich in physical  gold and/or silver – and such areas will be scarce.  The precious metals will become store-of-value money for many people in the medium-to-long term, and could be ‘invaluable’ as a barter item for trade when no functioning currency exists – in the brief aftermath of the collapse.

Silver bullion as a currency could be both a blessing and a curse.  Obviously the wealth of the area would be immense, but how would you prevent the silver leaving the area i.e. how would you prevent monetary deflation?  I’m quite sure that nearby ‘realms’ would indeed accept your silver coins, but would you accept their debt-free local fiat or ‘gold-backed’ certificates?  I’d personally be very wary of anything that wasn’t the real money of a precious or semi-precious metal, and wouldn’t want someone’s paper gold-backed certificate.  We’ve seen that trick done before!

Nickel-dollar standards could prove to be useful and powerful concepts to take with you into the next paradigm my dearest American friends.  They are monetary-metal based concepts, they are de-centralised, and they are not reliant upon paper promises or digital binary code.

The Nickel

 

The 1946-2011 ‘Nickel’ is made of 75% copper and 25% nickel.  They are also five grams in weight, which is perfect since they also have the number five embedded upon.

A ‘Nickel’ is five grams of cupro-nickel……now how perfect is that!

For monetary-metal currencies to function smoothly, it is important that certain criteria are met:

  1. Recognition of the coins
  2. Easily calculable
  3. Link to a weight measurement.

1.  Recognition of the coins

I would imagine that practically everyone in the United States can hold and know that a ‘Nickel’ is a ‘Nickel’.  Trade is facilitated as the recipient doesn’t need to ‘verify the metal’.  As the ‘Nickels’ main function would be day-to-day trade of buying apples etc, then the market place could function smoothly.

2.  Easily Calculable

It’s easily calculable as five cents would equal five grams of cupro-nickel.

I propose two primary Nickel-dollars.

  1.  Local ‘Nickel dollar’

This would be a 100 gram = 100 cent dollar.  Therefore the same as today’s dollar only that the ‘Nickel’ coins would be used exclusively.  Divided into twenty units, this could be a good local currency.

  1.  Wider ‘Nickel dollar’

A kilogram ‘wider’ nickel dollar would be a competitive currency even in areas using silver coins for currency.  A kilogram of cupro-nickel is indeed a large weight measurement, but I would imagine the ‘wider nickel-dollar’ would be a competitor even to a quarter-ounce coin of silver or gold.  However, as stated, the nature and purpose of the nickel dollar would be for small purchases of relatively inexpensive items, not big business or savings.

3. Link to a measurement

This is how we’ve been screwed before.  Not only have the elite debased precious monetary metals with semi-precious metals or base metals to increase the quantity of nominal units, they’ve also simply used the same metal.

For example, a government may collect in coins with the denominated value of 5, melt the coins, and then release the same amount of metal with the number 10 upon them.  Voila, they’ve just increased the units in an enforced monetary system i.e. they just inflated the currency supply for their gain at the cost of market confusion, confiscation of wealth through inflation,  and added uncertainty to the market place.

Pegging to a weight measurement is a method to avoid confusion, counter mal-practice, and provide more stability to markets.  Sterling, the currency that the Brits utilise, commenced life as a beautiful troy pound of 92.5% silver, 7.5% copper made-up of 240 pennies.  Sterling silver remains as 0.925 silver.  Bank of England Sterling notes and Royal Mint Sterling coins are nothing but a fraud – just paper, coins and digital with a nominal value.

The Italian Lira was a weight measurement, and so was the Spanish Peseta.

Both the local and wider nickel-dollar concepts are weight-based monetary metal systems and I hope you at least consider the method.  Chat about the ‘Nickel dollar’ to any trusted and existing trading partners.

The ‘wider nickel’ dollar and the ‘local nickel’ dollar are mere suggestions to a naming system.

The real beauty lies in the fact that each coin weight five grams of cupro-nickel.

Good Luck my American cousins.

Peace

11 comments to The Nickel dollar: a debt-free tangible currency

  • Annie Wade

    Gareth thank you – I love the idea! Another reason a nickel dollar is a valuable idea is that a dollar today is worth about a nickel of the value of 1964 dollar. Every time I must go into the bank I buy some nickels also!

  • Ken

    I wish to thank you as well, this puts a perspective on Modern Life, according to 18th century British Standards I make a little more than 100 pennies a week in a part time job! (10 dollar per hour for 25 hrs)
    I have some silver and will now collect nickles as well.

  • Gareth

    You’re welcome, Annie and Ken. The British government changed our 5p and 10p to nickel-plated steel in 2011. Your government could do the same to your ‘Nickel’, I dunno – bet they’re thinking about it.

    @Ken: There are 12 twelve troy ounces in a troy pound so a pennie is basically a 1/20th of an ounce. 20X12=240 pennies. There are gold pennies in existence – the 1/20th ounce gold coins. I’ve only seen 1/10th ounce in silver – a twopence. Yes, an ouce is twelve pence.

    I’d love to mint some pennies in sterling silver. I’s have ‘Magna Carta 1215 on one side, and ‘peace’ on the other.

    Wanna see one of the oldest pennies made is silver? Click the link:
    http://www.coins-of-the-uk.co.uk/pics/hamm/eanglia/index.html

  • Gareth

    Sorry, an ounce is 20p NOT 12p :-) My bad.

    Ounce = 20p
    1/20 ounce = a penny

    12 ounces = one pound.

    How many 0.925 pounds sterling do you have? Do you know if you had a pound sterling in bygone times, you’d be very wealthy indeed.

    Peace

  • Stephen ONeal

    Honest currency is one hell of a concept! Of course, the derivatives system, itself a currency virus, is the quintessential antithesis of honest currency. Digitalisation of currency is also easily hostile to organically honest trade between people. Further, there are complications when inflation and relative changes in commodities, such as between nickel,gold and for instance oil occur – although a coin that is composed of a comosite of two or more metals may damp some of the effect. If we disallow inflation as a currency substrate, again a return to honest currency, much of the difficulty would be gone, it would seem, especially if the currency face value generally stays at least marginally above, or at least not too far below, the metal value. Oue greatest obstacle is the dishonest administration of a planet that is now without a frontier to retreat, and this is the looming new effect on the outcome of our current crisis, sparing the onset of a gereat spiritual awakening. Forcing these issues into reality may indeed require a painful collapse, however, but ‘give me liberty or give me death’ was not easy either.

  • Hello Gareth,
    Maybe a little off topic, however, I am not a lawyer, I am a Judgment and Collection Agency Broker. This article is my opinion, based on my experience in California. If you ever need legal advice, please contact a lawyer.
    Good Job!

  • Very Nice!

    I took to stacking “nickels” around ’11 and found it a great way of savings that could be useful after an SHTF or crash, but in a short term need situation, I did cash in U$D 260 worth and these were replaced once gainful employment was realized.
    No downside to saving these, and when copper and nickel are higher in price (like 2008 and 2011) these can be worth 150% of face value!

    I really liked your “4 Piggy Banks” article. It’s a must-read-over in my mind!

  • […] Constitutional Silver, is a currency system from a bygone time, and could certainly be incorporated alongside silver bullion.  However, I still believe this would be insufficient for every possible trade, and would urge people to consider the semi-precious metal monetary systems such as the nickel dollar. […]

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  • […] you want to know more about this please click here if you’re in the US, and here if you’re in the UK.  My apologies for not writing about other […]

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