I recently jumped at the opportunity to sail across the Atlantic, from the Caribbean to Europe—something that had been on my bucket list since childhood. Before my departure, a friend quipped that this would finally keep me away from cashMoney in physical form such as banknotes and coins. More for the duration of the crossing. How wrong he was. Even in the middle of the ocean, cash proved indispensable. Here are five reasons why sailors need cash too.
Before leaving the Caribbean, we discussed security and reviewed the contents of the Grab Bag—also known as the Abandon Ship bag. Most sailing manuals and websites, besides the obvious safety and communications equipment, food and water recommend including ID, boat registration, and cash (sometimes credit cards too). We included cash. After all, in an emergency, you never know when you’ll need to pay for fuel, a tow, or even a ride to shore.
As we set off through the Caribbean, we passed some friendly fishermen with a boat full of lobsters. We asked if we could buy some—a last treat before our three-week crossing. We got as far as picking the lobsters and started negotiating with the fishermen. The issue wasn’t the price; it was the currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More. We had euros. They wanted dollars. No lobsters for us. The lesson? Carry cash in different currencies, depending on where you’re sailing.
Life at sea can get competitive. Whether it’s betting on the distance to the next waypoint, who can break the speed record at the helm, or who will spot land first, cash is the universal currency of friendly wagers on board. No one wants to Venmo-MPesa-Wero-Swish-Pix-Twint (pick one … or not) their shipmate for a lost bet. Cold, hard cash settles all debates.
After 21 days at sea, we landed on the island of Flores in the Azores. After mooring the boat, the crew split into two teams: the A Team headed straight for the showers, while the B Team went for the bar. There was just one catch—both the showers and the bar were cash-only. Lesson learned: Always have local currency ready for that first celebratory drink (or shower).
Some traditions never die. Ancient Greeks placed a coinA coin is a small, flat, round piece of metal alloy (or combination of metals) used primarily as legal tender. Issued by government, they are standardised in weight and composition and are produced at ‘mints’. More under the mast of their ships to pay Charon, the ferryman of the underworld, for safeSecure container for storing money and valuables, with high resistance to breaking and entering. More passage across the River Styx. Modern sailors still honour this custom. French sailor Loïc Peyron is known to have continued the tradition, but he’s not alone. British sailor Sir Robin Knox-Johnston, the first person to sail solo non-stop around the world, also placed a coin under the mast of his boat, Suhaili. Whether for superstition, respect for the sea, or simply tradition, cash—even a single coin—has a place in maritime lore.
Digital technology has fundamentally changed the way we sail. GPS and electronic navigation tools, weather prediction and analytics, satellite communications and roaming internet access have contributed to improve security and convenience and facilitate staying in touch with those at home. But when it comes to moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More, the robustness of cash is essential. From emergencies to traditions, cash remains a sailor’s most reliable companion—no signal required.