Adding Gold and Silver to Preps?Posted on: October 8, 2012
For the last several years, there has been a big push among some preppers and survivalists to add precious metals to their preps. The idea being these can then be used as currency if/when the dollar collapses. Some folks are setting aside junk silver, primarily U.S. coins minted before 1965, to use later. Others invest in krugerrands and other gold coins.
Here’s my take on that. First, your primary focus should be on acquiring food and supplies in such quantities that you won’t need to rely on buying or bartering for additional things down the road. If you are able to keep your family fed through the crisis and into the recovery phase, then that negates the need to purchase more, right?
Second, let’s say we’re three months into a post-collapse world. Stores essentially don’t exist and folks generally rely on barter to get what they need. You discover you desperately need a widget. Through making connections with other folks in the area, you find out Joe a few streets over might have said widget. Joe does indeed have one and he’s willing to part with it…for the right price. See, Joe’s family has been on limited rations for weeks, just barely getting by. Do you think Joe is really going to be interested in $0.85 in junk silver or is he going to be looking for a few cans of hash?
Think about it like this. Which has more inherent value in a survival situation, something you can eat or something you might be able to trade for something to eat?
I’m not saying to totally discount the idea of acquiring precious metals. Once the recovery phase happens, which it does after EVERY disaster, those with tangible wealth like gold and silver will indeed likely be wealthy.
But, you have to live long enough to see that happen.
If you’ve amassed enough food and other necessities to provide for you and your family though the risks for which you’re prepping, then by all means get yourself some precious metals. I’d even suggest going through your spare change at the end of each day and setting aside any pre-1965 coins. Takes a matter of seconds to do so. But, don’t go whole hog into buying quantities of gold and silver until and unless you can feed you and yours.