Silver: The Poor Man’s Gold

Buying Silver For Survival

There are three main reasons why people buy silver coins or silver bullion: for investments, to use as an inflation hedge, or for mere survival purposes. It’s a popular choice among preppers because it allows you to stay afloat and still have buying power at the instance of an emergency situation.

During an emergency, you can assume that the electricity supply will be cut off. That means ATM machines can’t dispense cash and card transactions may be impossible. There are three ways to best prepare for this: keeping emergency cash on hand, stockpile precious metals, and prepare resources for bartering.

Keeping emergency funds can only work for short-term disasters. Soon, your money will run out and you’ll need another way to replenish your emergency stash. The next thing you can do is to barter. Use any spare resource you have to trade with neighbors and friends. For emergency situations that will stretch for months, silver is incredibly useful.

Why Silver?

There are many reasons why silver is the precious metal that you should stockpile to be ready for any emergencies.

High Demand

There are numerous manufacturers that led to a consistently high demand for silver. In the year 2017 alone, manufacturers all over the world used up a billion ounces of silver. Silver is also present in electrical products like electronic gadgets and wring.

The jewelry industry used 209 million ounces. That’s because silver has the highest thermal activity among precious metals. It’s extremely malleable in the presence of het. Silver is also good at conducting electricity, hence its involvement in the world of electronics.

Easily Sold

Silver is easy to sell because of the high demand for it. Everyone’s willing to buy silver because of its abundance and relatively lower price point. When compared to gold and platinum, silver is definitely cheaper and more attainable as a luxurious item.

As such, a lot of people are willing to buy them. Even manufacturers, especially jewelers, constantly search for them. The malleability and tarnish-resistance makes it a great material for crafting jewelry pieces. There are also silver collectors who are always on the lookout for silver coins that they can use.

Can Withstand Inflation

Prolonged emergency situations will undoubtedly trigger an economic crash. Businesses will close as people lose their buying power. Fiat currency, which relies on the government for its value, will lessen and crash. Even the values of gold and titanium are erratic in the past few years. The only precious metal that has been consistent in terms of its value throughout the past century is silver.

Can Be Used For Bartering

Prolonged disasters will shut down the manufacture of certain goods. It’ll also limit the amount of things you can buy. Your cash might run out or the store may run dry. That’s where bartering will come in. you can go to neighbors or friends with supplies that you need and then trade those supplies for silver.

Silver allows you to gain access to survival items like food, potable water, and even services. It allows you to survive. It also allows you to maintain your standard of living. You’ll definitely find a buyer because silver is relatively affordable compared to other precious metals.

It Will Rise In Value

Historically speaking, precious metals have a trend of increasing in value over. They become even more valuable during crisis situations. For example, during the housing bubble and credit crisis from 2007 to 2008, stock prices crashed to the ground. Conversely, precious metals increased in value and worth. That’s because of the psychological concept that implies that precious metals are the safer investments that you should go for.

Silver Can Be Used For Stockpile Optimization

When buying precious silver, it’s better to purchase in bullion coins, rounds, or bars. This metal is usually purchased by weight. It’s advisable to take twenty percent of your savings and then convert it to its weight silver.

You can purchase silver in varying shapes and sizes. Go for bars, rounds, or coins, depending on what you need. Bars are heavier to lug around but have more purchasing power. It’s advisable to invest in bullions or coins. Make sure to keep the silver physically with you. Get a safe or other secure storage place for your valuables.

Best Silver Coins For Survival

There are different types of silver available on the market. It’s recommended to go for the pre-1965 silver coins. These are government-issued coinage. Its authenticity and reliability is already established which is why it’s a recommended currency. This type of silver is also small, lightweight, and compact. It’s easy to pack with you wherever you go.

American Silver Eagle is another recommended type of silver to invest in. It’s a reliable type because of its 99.99 percent purity. This is also the official silver bullion coin of the United States. You can also invest in Canadian Silver Maple Leaf. This is another legal tender with a purity of 99.99 percent.

Avoid “junk silver” coins because they’re deemed as less of a bargain. Its value went down along with the crash in silver prices in 2011. Majority of the available market inventory came from investors who sold stocks. As such, the coins are no longer in mint condition and not as tradable.

Where Should You Get Your Silver?

It’s very important to purchase your silver from reputable sources. There are fake, counterfeit, or impure silver that’s marketed as pure. If you’re not an expert at spotting real silver from fake or impure ones, then it’s best to purchase your silver from reliable sites like pawn shops, banks, and certified silver dealers.

How To Identify Silver’s Value

During an emergency crisis, you won’t get the luxury to consult a jeweler to verify the silver that’s being offered to you for bartering. Here’s how you can identify and value silver. First, prepare inspection equipment like a pocket scale, jeweler’s loop, and magnifying glass. Simply measure the weight of the silver and then multiply by its worth. The value of silver constantly changes so be sure to update yourself on its current values.

Live Silver Price

Chris Green

Chris has always had an adventurous soul, and his love for the outdoors eventually led him to become a professional life skills advisor. He explains a multitude of different topics ranging from disaster preparedness and wilderness survival to self-sufficiency.

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