Even before the National Geographic show “Doomsday Preppers” became a hit, an increasing number of people in this country have been worried about a coming economic collapse. The term “hyperinflation” is now in the mainstream and people have seen the price of gold and silver increase significantly.
Let’s take a look at how precious metals can be an important part of an economic collapse survival plan, even for people who don’t have tens of thousands dollars to invest.
Lessons from other countries that have experienced economic collapse teach us that as the currency dies slowly, or quickly, from hyperinflation, one of the best forms of money is gold and silver. We have many more Precious Metals Investing Articles Now Available.
Of course, barter items like alcohol and cigarettes and small luxury items have always proven to be very valuable forms of “currency” in an economic collapse. However, gold and silver are much more portable and universally accepted.
During World War II, agents who operated behind enemy lines were often given gold chains so that they could remove a link or two or three in order to make a “purchase” when they needed supplies, as everyone would accept gold. Trying to “make change” for a one ounce gold coin, when gold is valued at over $1600 per ounce, is not too convenient.
Silver is even better for this reason, as an ounce of silver worth $35 or so is more likely to be in the range of a typical transaction. Another popular form of silver is the pre-1965 US coins that used to be made out of silver. With silver at $35 per ounce, a US quarter from 1964 and earlier has a value of nearly $6, since it is 90% silver.
These 1964 and previous US coins are referred to as “junk silver” and are a great way of having small denominations of negotiable currency that is universally recognized in an economic collapse.
If you want to be prepared for an economic collapse, investing in a pocketful of “junk silver” and keeping it in your car trunk along with an emergency preparedness kit is a very inexpensive way to be prepared for a disaster that strikes without warning. This way, if you are away from home, you will be able to have peace of mind that you will have the things you need, including an alternate form of money, to get home safely. We have many more Precious Metals Investing Articles Now Available.