Preppers and Precious Metals
As preppers we need to be prepared for all the types of problems and disasters we may face. One of the problems we may face is a massive decrease in the value of the US dollar. At the moment with the government printing the amount of money that they do we are already experiencing a drop in the value of the dollar. This can essentially be considered a loophole tax. What I mean by this is that though we may not be paying an actual tax we are seeing less value of each dollar in our pockets.
Since 1985 the US dollar has lost 50% of its value against other currencies and 33% in the last 11 years alone. Although gold and silver have taken a small hit over the last month or so, they have gained value and a lot of value. Since 1995 Gold has gained about 350% and silver is up almost 500%. There are also some other precious metals that have gained as well, but gold and silver are the main ones that are easier to find and buy. The thing to remember when investing in precious metals is that it is not a get rich quick scheme. Precious metals are a long term investment and a hedge against the falling value of currency. They also could be used as currency to trade in a TEOTWAWKI scenario.
As a prepper you may think may think my food and supplies are much more valuable than gold when a SHTF time comes. This is definitely going to be true in the beginning of a full on societal meltdown. So I am not saying don’t be stocked with food and other supplies. What I am stressing is that if there is just a depression or if we are coming back out of SHTF and coming back to a more normal life, precious metals will be very important. Precious metals really have stood the test of time and will most likely continue to be used forever. They should also be just another part of your prepping totally separate from your other preps.
When things do start to settle down after a big disruption in society people will want to try to get back to normal. There is most likely not going to be a stable government, this means that there will probably not be a currency in beginning stages of rebuilding. This is the time when a store of precious metals is really going to help. In this time the barter system will evolve to use some type of currency and history has shown time and time again that precious metals can be used as currency. The US dollar was actually fully backed by gold until the 1930s and I personally wish it still was.
One of the tips I would have when buying precious metals is to buy them in small increments. If you have enough money for 1 oz of gold you may buy 10 1/10oz pieces or you might decide to buy pieces of silver as they are cheaper. I am not saying to buy less but rather smaller pieces that come up to the same amount. The reason for this is it will be a lot easier to use precious metals as a currency if you are able to trade with smaller pieces. An example to understand this is you have $100 and the person doesn’t have change. It would actually be better to have 100 $1 bills. After or during TEOTWAWKI most people won’t be able to give change. So you either have to buy more from the person, buy the stuff and get no change or walk away from the deal. So as you can see having smaller increments will be much easier than one huge bar of gold (even though it would be neat to have a bar of gold).
Beat The End has a new sponsor, JMBullion. JMBullion is a one of the leading sellers of gold and silver. They have many different sizes of gold and silver bars which make it easy to buy small to large bars as well as coins. JM Bullion has some of the best prices on the market and a price just slightly above spot price. One of the best features of JM Bullion is that they have an automatic investment program. This allows you to buy gold and silver on a schedule that makes for very consistent dollar cost averaging.
About Josh Collier
I am Josh the owner of Beat The End. I am a prepper and trying to be more self sufficient. The most likely thing I am preparing for is an economic meltdown/civil unrest. I am a hunter, fisherman and outdoors man. I have also made a part of the website to explain and inform to my readers the importance of liberty and freedom and libertarianism. If you would like to see the political part of the site please go to beattheend.com/politics.