Prepping Silver/Gold

[simoncarriere]

Is anyone prepping silver or gold? We all know that paper money won't have any effect after a major collapse. So currency will be changing to silver gold and trading. Where should I buy my silver ? Should I buy in bars or coins? Some say that silver is a better currency to invest in ?

Any information would be if great help

 

[ChickenLittle]

Is anyone prepping silver or gold? We all know that paper money won't have any effect after a major collapse. So currency will be changing to silver gold and trading. Where should I buy my silver ? Should I buy in bars or coins? Some say that silver is a better currency to invest in ?

Any information would be if great help

I think it is an important consideration, but it hasn't gotten a lot of positive interest on this board. Try taking a peak at this thread I started a few weeks ago.

http://www.doomsdayprepperforums.co...silver-as-part-of-your-preps.1300/#post-14821

 

[jeremy]

Honestly for me I have been doing silver coins. Any coin before 1964 has silver in it. Silver is better in my opinion, the fact is that gold is worth more, so when paper money is gone, and you wanna trade, gold you will often give to much. Coins are also easy to split up as far as cutting. Also you can buy morgan silver dollars for cheap. Remember when you buy coins with silver your not looking for the best grade. You can buy a beat up one for 28.00, it will weigh less cause it has been handled more and dropped therefore losing some of its weight. It is the best way to get silver cheap, thats just me.

 

[Mastercajun]

Is anyone prepping silver or gold? We all know that paper money won't have any effect after a major collapse. So currency will be changing to silver gold and trading. Where should I buy my silver ? Should I buy in bars or coins? Some say that silver is a better currency to invest in ?

Any information would be if great help

Welcome simoncarriere. You can find the answer to just about any question you have on this site. Some of us are kind of nuts but we will help you all we can. As for the gold and silver, figure this out, You have a BAR of gold and are starving and dying of thirst and I have a can of soup and a gallon of fresh water, you would give me that bar of gold for my soup and water. I have invested most of my assets in food storage and a renewable water source also other things I will need to keep my family safe. I don't know what anyone else will tell you but for me, I don't think gold will be worth anymore than paper when TSHTF. MOO. I may be wrong but you can't eat or drink gold. Also weapons, gold won't defend you and your family like a 45 or 9mm or shotgun(Icould go on an on an on with firearms). MPO is that if you have a large food storage, large water supply and enough weapons and ammo to defend your family that would be worth more than any gold you could store. My advice is to get all that I mentioned and then if you have money left that you want to spend on gold or silver then by all means do it but only after you have the necessaties you and your family will need. I for one will not let my family starve or die of thirst. I love them too much for that. As for protecting them, I will fight to the death to protect them.

 

[simoncarriere]

Thank you for the great feedback,Jeremy I would be a bit worried for the weight. I believe that the currency will be by weight of silver (oz). I had been looking at buying some directly from the mint. What did you mean by Morgan silver and all cons Canada and American before 1964 have silver ? Mastercajun I believe that after things start coming down, it will take time before things go back to normal. So I find it important that you have something to trade. Most human like gold and silver so having a few bars won't hert... thought about harvesting sugar canes as another currency

 

[ChickenLittle]

try coinflation.com for a list of coins that contain silver that can still be found in circulation. Coin roll hunting can be fun it you like treasure hunts.

 

[Shenandoah]

Is anyone prepping silver or gold? We all know that paper money won't have any effect after a major collapse. So currency will be changing to silver gold and trading. Where should I buy my silver ? Should I buy in bars or coins? Some say that silver is a better currency to invest in ?

Any information would be if great help

This is a great question! And there are some super-great responses too!! True, you can't eat silver and gold...and food storage will always need to push to the top of the must-have list. However, there IS a need to prep silver/gold and its two-fold. First, if you have a savings acct, CDs, Mutual-Funds, 401K, etc. they simply are not safe. If we learned nothing else when the banks collapsed; we learned those avenues for investments can simply be gone...POOF, overnight!! So, if you have money in savings or investments, for my peace of mind, I would change that over to something tangable like gold or silver. Second, wtshtf, there will be things you don't have stored and here is where the barter system comes into play. For example: If I need 5 gallons of gas and the man with the gas happens not to need the bricks of coffee I brought to trade, I'm SOL! Whereas a few silver coins may be the ticket to complete this transaction!

That being said, we are not folks of "means" by any stretch of the imagination! So, I buy silver coins where every other redneck buys them...Ebay! Its easy, I can buy from the comfort of my chair, next to the woodstove, and if I only have the $$ to buy 2 coins this month...its ok. First, I only buy silver. So I only buy coins containing >90% silver, which means those minted before 1964. My next rule is that I will only purchase those coins which have "free shipping" and many of them do! I started out buying "Mercury dimes" they are all >90% silver content and right now go for <$3 each. (Considering the US dollar is now worth about .20 compared to previous years; I consider that a bargain!!) Silver quarters aren't a very good buy on Ebay, when I measured out the cost per silver content. So, the other silver coins I buy are silver dollars. They go from $28-36 each, depending on condition, etc. Now condition is something I do NOT care about! I am not a "coin collector." Instead, I am looking to purchase what is called "Junk Silver," meaning I'm purchasing for silver content/investment purposes only.

Hope this helps!

Blessings,
Shenandoah

 

[simoncarriere]

This was great help to me.. Exactly what I was looking for. Thank you so much for the great responses. I will slowly start prepping silver and gold but mostly silver

 

[Reader]

Would anyone. Recommend buying and melting down jewelry??

 

[ChickenLittle]

Would anyone. Recommend buying and melting down jewelry??

No.

You can buy scrap jewelry, but either keep it as is so people can see the 18k or .925 ect and know how pure it is or gather up enough to send to a refinery. Melt it yourself and you have a chunk of metal of an odd purity and no stamp

 

[WILD MAN]

I would have to agree with Mastercajun invest your money in food, drinking water, guns, ammo and a secure location for your family if civilization ever returns to normal after TSHTF then worry about gold and silver.

 

[ChickenLittle]

I would have to agree with Mastercajun invest your money in food, drinking water, guns, ammo and a secure location for your family if civilization ever returns to normal after TSHTF then worry about gold and silver.

your 100% positive we will reach scorched earth status, with people starving in the streets and shooting each other? 100%? If not maybe some diversification of investments is not a bad thing, after you have your basic food and security set up.

 

[simoncarriere]

Having a vault of silver and gold isn't nesssery but having some silver coins is not a bad idea. We can all agree its a better investment then buying stocks

 

[WILD MAN]

your 100% positive we will reach scorched earth status, with people starving in the streets and shooting each other? 100%? If not maybe some diversification of investments is not a bad thing, after you have your basic food and security set up.

Civilization has always come back after TSHTF in the past and it probably will again but with limited finances I'm trying to make sure my family is secure and fed, who knows how long hard times will last and I'd hate to run out of food, water and ammo and have to eat silver for a year

 

[jimLE]

it might prove to be a good idea to include gold n silver with your prepping..but i beleave it's a better idea to stock on extra items that you do and dont need.that way you have items in which you can use to barter and trade.like tobacco and winter clothes,camping gear and such on acount folks will need that.as for getting silver coins.you might try going into diffrent banks pawn shops and coin shops to see if they have coins that date from 1964 on back,on acount thier the coins thats mostly silver.if you have gold jewelry gold teeth or any thing else made of,and dont have to much value to you when it comes to that.then melt it down for the gold.and if you can.come up with a coin mold of some kind if can legally.then press the gold you have into coins..and of course.like others have said.load up on food water guns anf ammo for your self and family.that way you and yur family will have a way to defend your selfs.while yall have food and water all the while..

 

[HarrySachs]

I think only you can answer this question, based on what you think may or
may not happen. Its hard to tell exactly what to prep for, which is why we
do. Having gold and silver is certainly not a bad thing.

 

[Kenny Lee]

Having a vault of silver and gold isn't nesssery but having some silver coins is not a bad idea. We can all agree its a better investment then buying stocks

I disagree with this since I have ETFs that have made me some good money so far. Before the SHTF and money is still relevant, getting a good return on your investment is key to getting all the things that will be worth money post collapse. Ammo, silver, equipment isn't free.

Logged onto Drudge today and I saw a massive collapse of gold, people fleeing to money? They apparently think that without inflation money is a better value, strange people.

 

[GatherYeAcorns]

Honestly for me I have been doing silver coins. Any coin before 1964 has silver in it. Silver is better in my opinion, the fact is that gold is worth more, so when paper money is gone, and you wanna trade, gold you will often give to much. Coins are also easy to split up as far as cutting. Also you can buy morgan silver dollars for cheap. Remember when you buy coins with silver your not looking for the best grade. You can buy a beat up one for 28.00, it will weigh less cause it has been handled more and dropped therefore losing some of its weight. It is the best way to get silver cheap, thats just me.

Yeah, I agree. I have a few junk silver coins to barter with in my BOB.

 

[Gazrok]

When people are starving, they aren't going to care about shiny metal.
Also, you will NEVER get the same purchasing power in a SHTF scenario, as what you paid for it now, if you even find anyone willing to trade.
If you are buying precious metals to make profit while the world is still turning normally, then I can see it. Otherwise, you're putting a lot of money into something that will be worthless come SHTF...or at least worth less than you paid for it.

Yeah, I agree. I have a few junk silver coins to barter with in my BOB.

That kind of idea is cool, or even paper money, in a BOB, because it likely won't have set in yet that it's all going to be worthless soon. This will be right at the moment everything is going to crap.

 

[HarrySachs]

As of now, post shtf, id say PM's are probably worthless. Not completely tho. If you came up to me and
tried to buy food I prepped with a silver or gold bar, id rather keep the food. HOWEVER, after the fact
and I had a supply of food, like a farm or something, sure gold and silver would be a good start for a form
of fiat.
With that said. If you were starving and approached me, and weren't a pirate, id just give you the food, in
exchange for services to start a community with me.
I guess what I am saying, if you are on a budget and have to choose between buying a bar of silver or food,
pick food