A Savings Account By Any Other Name

By: Tom Chatham

A number of years ago a friend of mine who did construction work in rural southwestern Va. related a story to me which offers a good lesson in economics for today.

While digging a foundation for a garage addition to a home the men dug up a broken jar containing a small cache of silver coins. From the amount of coinage the jar must have been full. They commented on the odd nature of the find and continued digging. A short time later they uncovered another jar, this time in tact. It was also full of coins. As they began digging again more jars appeared in the dirt.

By this time the men realized what they had discovered. One of the men went to the house and told the lady who was home at the time. She came out and upon seeing the men were not joking she told them to keep digging.

Now some information on where this occurred will be insightful. The home was built near an older home that had belonged to the owners father. His father did not trust banks as many from the depression era. His father had saved his money in coinage and sealed it in mason jars and buried it in the backyard. Apparently the old man died before telling his son about the money.

With the discovery of the jars the garage project was abandoned and the woman had them dig up the whole yard. In the end many dozens of jars filled with silver coinage were uncovered. It was a very fulfilling day for the home owners to say the least.

This story presents many lessons to be learned.

– silver coinage is a good way to save for the future
– keeping physical possession of the money is best
– you can store this type of money almost anywhere
– silver coinage is a good way to pass wealth to heirs
– leave information so if you die your family can find it
– bankers and politicians cannot steal what they cannot find
– real money is eternal

With the breakdown of our currency system coming in the near future, some type of savings program is important if you hope to come through it with your assets in tact. After a currency reset or complete breakdown, having even a small amount of real money to get you back on your feet financially will mean a great deal to you and your family. Getting real money to save is only half of the battle. The other part is being able to keep it safe until you need it.

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Posted on April 29, 2014, in Economics and tagged , , . Bookmark the permalink. 1 Comment.

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