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csmith71

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How to accept silver for payment of services?
« on: August 09, 2012, 10:40:49 PM »

I have a pet sitting/dog walking business. I'd like to start accepting silver as payment for services. Although I doubt any of my clients will pay that way, I'd still like to offer it as an option.

Anyone have insight or links to information on how to invoice and accept silver? I have no idea where to start.

Thanks,
Chris
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Diogenes The Cynic

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Re: How to accept silver for payment of services?
« Reply #1 on: August 10, 2012, 03:34:54 AM »

How much silver is worth an hour of your services?

Don't tie it to currency, because then you're essentially being paid in dollars.
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talkativeshut

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Re: How to accept silver for payment of services?
« Reply #2 on: September 08, 2012, 04:11:21 AM »

This seems like a great idea to get myself some silver as well. Thanks for sharing this, I would surely be looking forward to the proceeds of this thread.It seems like with the right answers I would be granted my own silver trading business as well!
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Turd Ferguson

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Re: How to accept silver for payment of services?
« Reply #3 on: September 24, 2012, 12:28:15 AM »

How much silver is worth an hour of your services?

Don't tie it to currency, because then you're essentially being paid in dollars.

You'd be nuts not to tie it to the currency at this point.

Say for instance, he charges 34 bucks in us dollars, about the price of an oz of silver,  to walk the dog. Lets then say the price of silver goes up to 45 dollars the next day. Ok, what is he supposed to do now, charge the guy with the dog the same oz of silver to walk the dog? The customer will probably go with someone else that still charges 34 bucks, unless of course, he changes the amount of silver he takes for his service. So unless he wants to lose customers, he would be nuts not to tie the amount of silver he charges to the US dollar.


How much to walk my dog?

"One ounce of silver"

WTF?? An oz of silver costs 90 bucks!!

"I know, but i've always charged an oz of silver to walk your dog"

Yeah, but that was when it was worth 34 bucks!!

"Yeah yeah, I know, but i'm not tying my silver price to the dollar"

GTFOuttaheah!!
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Diogenes The Cynic

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Re: How to accept silver for payment of services?
« Reply #4 on: September 24, 2012, 12:58:55 AM »

But then its not its own currency, which defeats the point.
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Turd Ferguson

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Re: How to accept silver for payment of services?
« Reply #5 on: September 24, 2012, 01:41:20 AM »

But then its not its own currency, which defeats the point.


For most people, its just a hedge against inflation. Maybe at some point in the future, it might become its own currency, but silver trade doesn't work in a closed loop at this point in the game.
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dalebert

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Re: How to accept silver for payment of services?
« Reply #6 on: September 24, 2012, 10:10:16 AM »

But then its not its own currency, which defeats the point.


For most people, its just a hedge against inflation. Maybe at some point in the future, it might become its own currency, but silver trade doesn't work in a closed loop at this point in the game.

Agreed. That's why it's not great for use as a currency right now. Too many people are speculating on it because it's value is being affected by a lot of other things besides inflation. I imagine its value would stabilize somewhat if a LOT of people were using it as a currency. As it is, people want to sell it (spend it) when it's value peaks and horde it (accept it as currency) when it's value valleys. I've watched this in action in NH amongst liberty activists.

Turd Ferguson

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Re: How to accept silver for payment of services?
« Reply #7 on: September 24, 2012, 12:04:58 PM »

But then its not its own currency, which defeats the point.


For most people, its just a hedge against inflation. Maybe at some point in the future, it might become its own currency, but silver trade doesn't work in a closed loop at this point in the game.

Agreed. That's why it's not great for use as a currency right now. Too many people are speculating on it because it's value is being affected by a lot of other things besides inflation. I imagine its value would stabilize somewhat if a LOT of people were using it as a currency. As it is, people want to sell it (spend it) when it's value peaks and horde it (accept it as currency) when it's value valleys. I've watched this in action in NH amongst liberty activists.

Exactly. I don't even blame them for doing it. Its just human nature to want to try and get the most out of your labor. If someone offers you a chunk of shiny metal worth $400 US dollars to walk their dog for an hour, you'd be insane not to trade it in for cash and buy $400 worth of groceries with it. Whatcha gonna do, take the "high road" and be a purist and take that $400 dollar silver chunk and trade it even-up to someone to wash your windows for ya? I wouldn't. At least not right now. Not until a value has been established that works out for everyone involved in trading it.
« Last Edit: September 24, 2012, 12:07:49 PM by Turd Ferguson »
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Murkan Mike

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Re: How to accept silver for payment of services?
« Reply #8 on: February 18, 2013, 05:38:40 PM »

I sometimes sell guns priced in ounces of silver.  In almost every instance, the people have paid me in dollars (most people don't know how to buy silver) and I have added 5% for the conversion to silver, and I use an exchange rate to my favor.  I still like to do it, even though it may have cost me a few sales over the years, but I like to still price the items in silver, as it makes a few people think about it, and I have opened a few eyes over the years. I usually price the gun in full ounces, and post the US Dollar and the Euro exchange rates (not the converted price, but the rate of exchange) and make the people try and do the math in their own heads.  I sold a rifle recently for 10 ounces of silver, and posted the euro exchange rate at 32.50 / oz.    Can you believe the average Joe Schmoe wasn't able to determine the price of the rifle was around 325 Euros without using a calculator!!!!!  Most people had to get out their I-Phone, and download an app, and even then they didn't know how to add SILVER to the currencies.  They said "I don't know how to figure this out, silver isn't really a world currency, and it isn't in the list".

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