Monday, December 1, 2008

A Low-Cost Social/Financial Barometer

Go find yourself a silver dollar or a silver eagle. Right now you can purchase one at on-line stores in the $15-$20 range.

Carry it with you. Use it occasionally to try and buy something that you fancy.

Now, here is how you read the meter on this simple little measuring tool.
  1. If people don't want to take it or look at you funny: Times are good. Party on.
  2. If people look at if for a bit and try to give you less value than the current value of the silver: Start paying closer attention, things are still OK, but outlook is looking negative.
  3. People are willing to give you what you feel is fair, no questions asked: Severe slide pending.
  4. People are willing give you more than the value of the coin and ask if you need anything else: Button up the barn Bertha, the party's getting started.
Now, like all equipment used to analyze the weather, this one needs to be calibrated (you gotta check the spot price of silver now and again)

2 comments:

Mayberry said...

A good barometer indeed! Especially when tested at "Mom n Pop" type places....

tootrack said...

American Silver Eagles are marked as $1, for use as legal tender. I'd guess most clerks wouldn't except then at more than that now. Savvier ones might accept them now at a small discount to spot, I know I would if you were haggling with me.

When trying to get that gas station, grocery store, or pharmacist to part with their goods during/after a problem, silver will probably get you to the front of the line. To get past a road block, have the authorities look the other way, obtain some coveted gov't paperwork, or get that last seat on transportation out of dodge - you might want to have some gold. :) Just my .02, take care.