Precious Metals

Help us decentralize money!

Many of you may know that the central banks’ ability to print unbacked paper money out of thin air results in an economic system where it is easy for corrupt governments to steal money from the population’s savings via inflation.

At Fruit Haven, many of us are interested in actively exploring other means of transacting. This includes barter, but also includes “sound” currencies such as gold and silver, which hold their value due to scarcity, and due to having other properties that make them ideal for a medium of exchange: Color, non-oxidizing/non-rusting, and easy proofing.

At the time of writing, the price of a gram of gold is around $45 ($1313 for a troy ounce) and a troy ounce of silver is around $16. These can easily be used for inter-personal transactions, and at Fruit Haven we are trying to get standard mint coins into circulation to encourage the community to use them instead of worthless paper money. Some day we may have a community precious metals store, so that we can accept precious metals for payments of the monthly internet bill (1/3 ozt of silver), the security deposit (2 grams of gold), etc.

But the main obstacle to this right now is not having enough physical precious metal coins at the community in order to facilitate this. If you’d like to bring some to use for transactions, you can be confident that there will be others here who will accept them, and who will also be able to engage in transactions using PMs.

There are many reputable precious metals dealers online. If you are in the US, you can check out the selections of silver ounce coins at APMEX and Provident Metals. Also, you can check out the selections of gold gram coins/bars (APMEX and Provident) using those links.

If you are in Europe you can check out the selections at: https://www.coininvest.com/en/

For silver, it is recommended to bring coins/bars of the following weights: 1 gram, 2 gram, 5 grams, anything up to 1 ozt, also 1 ozt and 2 ozt. Primarily 1 ozt is most convenient for transactions due to its value being in the range of $15-$30.

For gold, it is recommended to bring coins/bars of the following weights: 1/2 gram, 1 gram, 2 or 2.5 gram, 5 gram, 1/10 ozt. 1 ozt coins are mainly good for storing value since their worth is so high. 1/2 and 1 gram bars in their assay sleeve/card are best for regular transactions due to their value being around $25-$50.

If you have any questions about our efforts to move away from fiat currencies, feel free to contact us!