Is investing in precious metals like silver and gold a good idea for most preppers? The answer will vary depending on who you ask, some preppers strongly advise purchasing gold and silver as a means of survival in the event of a total economic collapse, while others question how practical and valuable it would truly be in a post collapse situation. This article will look at both sides and outline some of the advantages and disadvantages of investing in silver and gold as part of your prepper strategy.
Historically, gold has always been accepted as a form of currency and has held its value as it cannot be mass printed like money. However, not everyone can afford gold which is why silver is considered to be the currency of preppers, primarily junk silver. Circulated coins (primarily dimes and quarters) are considered junk silver as their value is based solely on their silver content (coins made prior to 1965 contain 90% silver) so they are valued as a hedge against inflation. A 90% junk quarter that was worth 25 cents in 1960 is actually worth 20 times that today (values are constantly changing so check financial websites for accurate and up to date information). Many preppers advise having a combination of [easyazon_link identifier=”B01A2N3538″ locale=”US” nw=”y” tag=”prdtprep02-20″ cart=”n” cloak=”y” localize=”y” popups=”n”]gold[/easyazon_link] and [easyazon_link identifier=”B00T39LAQM” locale=”US” nw=”y” tag=”prdtprep02-20″ cart=”n” cloak=”y” localize=”y” popups=”n”]silver[/easyazon_link] as a means of bartering, the smaller silver coins would be useful for obtaining smaller day to day goods and services while the gold would be saved for making larger purchases.
On the flip side, the present market value for a one ounce gold bullion is approx $1300 (the market is always fluctuating). Many people feel that there are far more crucial items to purchase and stock up on like [easyazon_link identifier=”B00HWLQ0NQ” locale=”US” nw=”y” tag=”prdtprep02-20″ cart=”n” cloak=”y” localize=”y” popups=”n”]food[/easyazon_link], ammunition, weapons, [easyazon_link identifier=”B00GV3XRDW” locale=”US” nw=”y” tag=”prdtprep02-20″ cart=”n” cloak=”y” localize=”n” popups=”n”]generator[/easyazon_link], etc. These basic necessities will be needed on a day to day basis as opposed to gold which only has the potential to be beneficial in a long term collapse. However, even then some financial advisors speculate that gold wouldn’t necessarily hold its value in an economic collapse as the value is only what people perceive it to be. In a post collapse situation people won’t necessarily be willing to accept gold/silver as payment/barter, they are more likely to barter with goods and services only, which is why investing in courses and developing skills would be more beneficial. In regard to silver, the same argument applies, many feel that the countless hours spent seeking and sorting coins to find the few that are valuable would again be much better spent on gaining new skills and acquiring knowledge on how to be self sufficient. These skills and knowledge aren’t tangible so they can never be taken from you.
There isn’t a right or wrong answer when it comes to investing in silver and gold. Obviously, you can’t eat gold (or silver) so obtaining it should never be the first priority when prepping. But, if you are already well prepared and have stocked up on the basic essentials like food, water, etc. then acquiring precious metals may be worth considering as they could provide some extra financial security in a post collapse situation. However, investing is ultimately gambling, so it is up to the individual prepper to decide if they are willing to take that risk.