On Burying Treasure

FatherAbraham

Alice_Holt wrote: »

Perhaps your Bank via an ATM?

Do you remember what happened to the ATMs in Cyprus in 2013, or to the ATMs in Greece in 2014?

Warmest regards,
FA

Apodemus

FatherAbraham wrote: »

Do you remember what happened to the ATMs in Cyprus in 2013, or to the ATMs in Greece in 2014?

Warmest regards,
FA

Yes, but if you had buried pound coins last year, they would be obsolete by next year and just about as easy to cash in as gold sovereigns by then. Plastic banknotes might be a bit more durable than paper, but again, you don't know how long the latest designs will be easily used.

FatherAbraham

Apodemus wrote: »

Yes, but if you had buried pound coins last year, they would be obsolete by next year and just about as easy to cash in as gold sovereigns by then. Plastic banknotes might be a bit more durable than paper, but again, you don't know how long the latest designs will be easily used.

Yes, and this was already mentioned in post #13 on this thread.

It's one of the aspects which one needs to attend to, and which makes finding a workable solution tricky.

There are no current plans to replace the £50 note.

Warmest regards,
FA

mollycat

FatherAbraham wrote: »

Thanks for a nicely technical answer, although gold sovereigns are just a needless encumbrance when one simply wants unremarkable liquidity to buy groceries, a used car, or rent a room and buy a gun, a false passport and a plane ticket to Panama.

Warmest regards,
FA

Fixed that for you

wmb194

FatherAbraham wrote: »

Do you remember what happened to the ATMs in Cyprus in 2013, or to the ATMs in Greece in 2014?
FA

But this isn't the scenario you've presented. Yours is on the lam, not the end of the world. IIRC the ATMs still worked but the amount that could be withdrawn was restricted.

Perhaps the answer is simpler than you think: you could probably hold a month's net salary in a money belt. A couple of thousand in twenties shouldn't be a problem. (Which you keep on you at all times.)

Malthusian

FatherAbraham wrote: »

There are no current plans to replace the £50 note.

And why would you when someone trying to spend a PVC pipe full of £50 notes is such a useful way of detecting fugitives. Every petrol station attendant in the world is going to ring the popo.

Here's a novel solution: if you find yourself on the lam after being accused of a crime you (presumably) didn't commit, why not just hand yourself in and clear your name in the courts? Running away and having a stash of money prepared beforehand never looks good to a jury.

shaun_from_Africa

FatherAbraham wrote: »

Thanks for a nicely technical answer, although gold sovereigns are just a needless encumbrance when one simply wants unremarkable liquidity to buy groceries, a used car, or rent a room.

One advantage with gold coins over paper money is that if your depository was not 100% watertight for the entire time it was buried, any paper money would end up as mush whereas sovereigns would only have a tiny bit of discolouration on them, something that wouldn't really affect their value.

FatherAbraham

Malthusian wrote: »

And why would you when someone trying to spend a PVC pipe full of £50 notes is such a useful way of detecting fugitives. Every petrol station attendant in the world is going to ring the popo.

On the contrary, there are plenty of fringe areas of society where goods and services trade for notes. Suggesting that one would walk in with a suspicious "PVC pipe" is just a silly straw-man argument, isn't it?

Malthusian wrote: »

Here's a novel solution: if you find yourself on the lam after being accused of a crime you (presumably) didn't commit, why not just hand yourself in and clear your name in the courts? Running away and having a stash of money prepared beforehand never looks good to a jury.

You see, that's the problem with specific scenarios, isn't it? Because if you were trying to avoid a new girlfriend's murderous ex-husband, or a lynch mob accussing you of necrophilia, then your "hand yourself over" idea looks a bit daft, doesn't it?

That's why it's far more interesting to talk about practical, technical liquidity-stashing strategies, which can mitigate a variety of unfortunate, and indeed unforeseeable circumstances.

Warmest regards,
FA

enthusiasticsaver

How about a safe in your own property.

FatherAbraham

wmb194 wrote: »

But this isn't the scenario you've presented. Yours is on the lam, not the end of the world. IIRC the ATMs still worked but the amount that could be withdrawn was restricted.

The specific scenario which leads to needing liquidity isn't the point. If you only prepare for specific scenarios, the ones you manage to imagine in advance, then you'll be vulnerable to situations which you didn't conceive of. It's no use crying "It's not fair! I never thought that X could happen!"

wmb194 wrote: »

Perhaps the answer is simpler than you think: you could probably hold a month's net salary in a money belt. A couple of thousand in twenties shouldn't be a problem. (Which you keep on you at all times.)

Well, we talked about keeping some cash on one's person earlier in the thread, but one hundred twenty-pound notes is actually quite a bulky pile, fairly uncomfortable to wear, and thus a safe, accessible, unguarded stashing place, iif available, is preferable.

Warmest regards,
FA