Why Should I Buy Silver?
Silver is a great way to hedge off inflation and even relaxing to collect. It is one of the “fun” things to prep and they are pretty too. I am partial to American Silver Eagles but other forms of silver will do. Our thought process behind the ASE is the fact that it is well recognized in our area of operation. But fair warning, it’s just another thing that can become addicting like knives, flashlights and other gadgets.
Will Silver Be Worth Anything After the SHTF?
It’s been talked about a million times across the web but is silver really something worth caching for an SHTF situation? If you’ve been a prepper for a while, you have heard it said that a can of soup will be worth its weight in gold when the “s” hits the fan. Well, that may be true so let’s discuss a few things regarding precious metals after the SHTF.
There have been conflicting views on this subject. The fact is, silver has been used as a means of payment for centuries. I don’t think that will go away in a modern-day SHTF. On the other hand, many out there not of the coin/prepper mind, may not even know what your coins are worth or even what they are. This especially comes into play if you decide to stack junk silver. To most, a 1964 dime is just a dime.
This is one of the reasons I chose American Silver Eagles. It is in the hopes that if the day comes, I need them to barter in an SHTF situation, they will be more recognized than say a silver bar or foreign coin.
When and How Much Silver?
The time to start stacking silver for an SHTF situation is when and only when your main preps have been completed.
I suggest you have your food and water needs nailed down. That means that you have reached your goal on food/water for members of your family for the duration of the disaster you are comfortable with. If you don’t have your food/waters stuffs in order and plan on bartering for food, then a can of soup will be worth its weight in gold.
I also recommend you have your security concerns fulfilled before stacking silver. Whether you think it will be worthless or not after the SHTF, it will be worth something to someone.
The amount of silver you decide to stack is a personal thing. It completely depends on storage space and how much you are willing to invest. Silver can become heavy and bulky in large quantities so keep that in mind if it starts pilling up.
Where Can I Buy Silver?
You can find silver coins at just about any local coin shop. There you will have a couple of choices, minted coins, and junk silver. Minted coins have a higher premium than generic or junk silver but also have a slightly higher return. Junk silver is US coins that were made before 1965. These coins, mainly dollars, half dollars, quarters, and dimes, contain 90% silver and are worth more than their face value.
Be sure to check around for the best prices. Silver prices differ greatly from dealer to dealer and that includes online providers such as JM Bullion and APMEX.
Silver is a fun way to back up your preps and it holds its value fairly well. But unfortunately, it is not really an investment because it flat lines. If you have space and funds, stack it high!