Does the digital economy mean the end of the treasure cache?

Rezonate · Feb 16, 2015

Reading around here and thinking to myself about historical currency (hard metals) and modern currency (paper and electrons). In 100 years, what will people have to search for? I mean, all my "wealth" is just a number in a computer somewhere. The stuff I keep around me might fetch five figures if I'm lucky. I certainly don't have (or intend to ever have) a stack of gold coins to stash somewhere and then forget. So, do you think modern people are squirreling away bullion? Collectables? Or just playing X-Box and watching Netflix?

cw0909 · Feb 19, 2015

good Q, im saying yes
from my own fall off the economic ladder, and others i know
that had a great fall, (gf= thousands for the average joe =me)
the gf after the house boom bubble taught me to keep 2k$ at
least on hand, and you have to keep it safe someplace
my small investment of stocks didnt end well, totally my fault
i was very busy with a very sick mother,and let a lot of $$ aspects
of my life go by, just to involved and not paying attention, result
60K$ gone, now my house is a rental, and me in a very small apt
im putting the house on the market end of this summer, it took
a lot to hang on to the house
i watched a new neighbor lose his house in 6mo. of buying because
of that so called easy 2nd mortgage/ equity loan, the unaware got
sucked in, if they would have thought about a minute or 2, maybe
they would have known there was not 100k+ equity for a loan only
6mo. to 10yr old
live and learn

sdctreasure27 · Feb 20, 2015

I don't think so, it all depends on the person. I know a lot of people who keep cash around there house in case of emergency, don't know anyone who keeps gold but if they did I don't imagine they would tell anyone. I think people will continue to hide stuff the way they always have, especially if the current system starts looking like a risk to them. As far as it being in precious metals or cash, I would say cash because thats what most people have today

chirper97 · Feb 20, 2015

Rezonate said:
Reading around here and thinking to myself about historical currency (hard metals) and modern currency (paper and electrons). In 100 years, what will people have to search for? I mean, all my "wealth" is just a number in a computer somewhere. The stuff I keep around me might fetch five figures if I'm lucky. I certainly don't have (or intend to ever have) a stack of gold coins to stash somewhere and then forget. So, do you think modern people are squirreling away bullion? Collectables? Or just playing X-Box and watching Netflix?

There is validity in the expression "If you can't hold it in your hand, you have no wealth". If you don't have actual physical control of your assets, you may be devastated by the actions of our governing regimes and by the stock market ponzi scheme. This will hit older people the hardest.

Gold and silver have always been the solution for maintaining wealth. I don't think we will see any changes in this mindset.

Therefore, caching will continue and will probably greatly increase!

goldfinder · Feb 21, 2015

There will always be those who stash a few coins including gold. There are a lot of people who are buying gold and silver as a hedge against the paper money. Digital money can be gone in an instant. There is also the very real danger of the govt confiscating it. So I'd advise to have some stash including cash just in case. Natural disasters also happen. It has been proven that great civilizations have vanished because of some of them.
Goldfinder

Rezonate · Feb 26, 2015

Thanks all for the commentary. Very interesting. I would agree that the "right" thing to do is to have an emergency stash, not to trust whatever local government, mafia, or illuminati who happens to be in power. But I wonder what the "actual" people are doing. Does the typical college kid today think about money as "cash", or a swipe-n-pay gift card balance? With gold so expensive, how to even get ahold of coins? I always cringe when I hear stories about people stashing a quarter million in cash around their house. One fire or tornado and Whoosh! All gone.

Slingshot · Feb 26, 2015

No, organized crime will have to operate outside the digital boundaries for obvious reasons, and metals along with other forms of currency will still be used, stockpiled, hidden and also lost. One of the big reasons we haven't gone digital yet is because of OC's push to keep "cash" in use to preserve their empires, which are vast, and they have a very strong presence on Capitol Hill.

Peyton Manning · Feb 26, 2015

cw0909 said:
good Q, im saying yes
from my own fall off the economic ladder, and others i know
that had a great fall, (gf= thousands for the average joe =me)
the gf after the house boom bubble taught me to keep 2k$ at
least on hand, and you have to keep it safe someplace
my small investment of stocks didnt end well, totally my fault
i was very busy with a very sick mother,and let a lot of $$ aspects
of my life go by, just to involved and not paying attention, result
60K$ gone, now my house is a rental, and me in a very small apt
im putting the house on the market end of this summer, it took
a lot to hang on to the house
i watched a new neighbor lose his house in 6mo. of buying because
of that so called easy 2nd mortgage/ equity loan, the unaware got
sucked in, if they would have thought about a minute or 2, maybe
they would have known there was not 100k+ equity for a loan only
6mo. to 10yr old
live and learn

start listening to dave ramsey man

albertapicker · Feb 26, 2015

Maybe its because Im an eccentric... but I kinda like having gold and silver tucked away in a secret place. Not to mention keeping a couple a Grand in cash tucked away for that random day where the commies close the banks and steel all of our banked money.

@ Jeff: Im a bug fan of Dave Ramsey and the old Biblical Proverb: The borrower is slave to the lender

wingmaster · Feb 26, 2015

Modern currency is trash anyway, they don't make gold or silver coins for currency now days. You can get gold or silver bullion coins but people are not using them for currency so they won't be carrying them to lose them, I don't think it's very smart buying gold and silver like that as your paying way over price for gold and silver like that. HH

cw0909 · Feb 27, 2015

jeff-gordon said:
start listening to dave ramsey man

ill check it out, after i sell house, and cash out ira

Peyton Manning · Feb 27, 2015

don't cash the ira till you check him out

KANACKI · Mar 2, 2015

Rezonate said:
Reading around here and thinking to myself about historical currency (hard metals) and modern currency (paper and electrons). In 100 years, what will people have to search for? I mean, all my "wealth" is just a number in a computer somewhere. The stuff I keep around me might fetch five figures if I'm lucky. I certainly don't have (or intend to ever have) a stack of gold coins to stash somewhere and then forget. So, do you think modern people are squirreling away bullion? Collectables? Or just playing X-Box and watching Netflix?

Hola Rezonate Most of us except for Don Jose who has drank the waters of the fountain of youth. :laughing7:

For us mere mortals we will be all long dead in hundred years. so for us its rather irreverent, as much can happen in century. With technological weapons we have to day, we might be back to sticks and stones in the next century and our digital revolution irreverent? So rather not dwelling on the future and look back to the relative short history of the United States there are thousands and thousand caches and treasure to find. There is not a state where one time or another, uncertainty and threat of war, distrust of banks, proceeds of crime etc... has been the bases of countless treasure troves big and small. The Adventure truly is out there.

kanacki

Bum Luck · Mar 2, 2015

albertapicker said:
.................where the commies close the banks and steel all of our banked money.

It won't be the commies; they don't control the banks. It will be the day when there won't be the need for the illusion of law anymore; your account will simply disappear.

albertapicker · Mar 2, 2015

Bum Luck said:
It won't be the commies; they don't control the banks. It will be the day when there won't be the need for the illusion of law anymore; your account will simply disappear.

.... I know your right, but Ill still blame the commies and the hippies

Rezonate · Mar 22, 2015

KANACKI said:
For us mere mortals we will be all long dead in hundred years. so for us its rather irreverent, as much can happen in century. So rather not dwelling on the future and look back to the relative short history of the United States there are thousands and thousand caches and treasure to find. There is not a state where one time or another, uncertainty and threat of war, distrust of banks, proceeds of crime etc... has been the bases of countless treasure troves big and small. The Adventure truly is out there.

kanacki

Thank you for the great reply. Maybe that was my point, not so much to have something for myself to look for, but think ahead to the future of treasure hunting. The money is all going away in favor of an abstraction of money. What does "wealth" look like? A hundred acres and the firearms to defend it? A consolidated investment ledger? It's kinda cool to think about today's stashes being the subject of tomorrow's hunts.

Peachy · Mar 22, 2015

My new detector has a function to "Mine Bitcoin" Just plug in the USB and go to bed. Wealtier in the morning! :tongue3:

lol

Curtis · Mar 29, 2015

There will always be the adventuresome souls that are willing to look for something historically lost and at the same time feather their next so to speak. Look at all of those guys who bought or made plastic pipe banks they put in the ground! The are leaving stuff for future t-hunters to find! The numbers of t-hunters are surely dwindling as the kids get less and less enthusiastic about history and working to find something-maybe-lost.

Crow · Mar 30, 2015

Rezonate said:
Thank you for the great reply. Maybe that was my point, not so much to have something for myself to look for, but think ahead to the future of treasure hunting. The money is all going away in favor of an abstraction of money. What does "wealth" look like? A hundred acres and the firearms to defend it? A consolidated investment ledger? It's kinda cool to think about today's stashes being the subject of tomorrow's hunts.

Indeed you car correct . Even as I Type somewhere some place some one is hiding money jewelery and valuables.

From the wealthy attempting to avoid tax liabilities, proceesds of crime. The principle drivers of such events are fear that could be from law enforcement, Taxation obligations , civil economic unrest or war. Some where some place at any one time there is conflict. Ya can bet your bottom dollar some one is hiding some thing.

Crow

Hitndahed · Apr 3, 2015

Without even reading past the title I will answer your question with a resounding NO !!!

People LOVE physical/tangible things. To look at,,to hold and admire.

Sure, Bitcoin IS valuable but you cannot hold it, at least not physically.
BUT
Coins made of precious metals or jewelry, with or without stones you have the best of both worlds. VALUE AND BEAUTY

Just my thoughts

Hit