Why Silver as Monetary Unit
Throughout the Scriptures money is categorized primarily as silver, sometimes as gold, and then as any number of useful things that include precious metals, clothing, food, gems and more.
The United States Constitution gave the federal government the authority to coin money from only sliver and gold.
Federal Reserve Notes are therefore neither Biblical nor Constitutional money.
Any real tangible useful item could be used as valid money because they have and hold value, but some things are more convenient to handle and trade than others. Milk, for example, has a short shelf life and would require some special handling for each transaction.
But just as silver is always silver and fresh milk one day is as valuable as fresh milk another day, their values are not subject to monetary manipulations or inflation. They have real inherent value.
Therefore, pricing a course or a product in terms of silver or any other real and useful tangible item can be an effective implementation of Biblical and Constitutional economic thought.
Little by little the Biblical Concourse is transitioning toward a full implementation of Biblical economic thought which includes pricing products and services in terms of useful things and not accepting any Federal Reserve Notes.
Silver is regularly and easily purchased in (.999 pure) bullion coins and bars or (.90 pure) old silver coins and sent through insured US mail. The old silver coins are typically the cheapest form of silver. The seller of silver will first calculate the face value of the coins needed based on the weight of the coins needed to satisfy your request. The old coins (nickels, dimes, quarters, & half dollars) all contain 71 % of a troy ounce of pure refined silver.
To calculate the face value of coins needed, take the desired ounces and divide by 0.71 (e.g., 12 ounces / 0.71 = $16.90 face value of the old coins). Then multiply the selling price of silver per face value (which changes daily) by the desired face value for the price of the desires ounces of silver in dollars.
Treasure Island ( Fargo , ND , 701-282-4747) has been a reliable low cost source of silver, but check first with your local dealer. Treasure Island ships 12 ounces of silver for about $7, which is lower than the online dealers surveyed.
As Henry Ford said, “It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Biblical Concourse 2008
