6 Reasons for Preppers to Stock Precious Metals
By Justin Fraughton
With the current state of the world—the fear of a near return of Cold War politics, concerns over the actions of extremist zealots and worries over increasing natural disasters—many people are beginning to worry for the future of both our country and the world, and they’re starting to prepare themselves for the very worst.
If you relate with the stories of fellow preppers and their wants to secure protection for the future, you should begin considering certain types of investments. In particular, one of the most useful investments you can store alongside your preps is precious metals such as coins, jewelry, and silver made of both gold and silver. Not sure how or why these precious metals can benefit you in the event of global or regional catastrophe? Here are five key reasons to consider:
- Money Makes Civilization Go ’Round
First and foremost, you should be certain to stockpile some spare money along with all of your partitioned goods—i.e., to be unbanked. The provided benefit to being prepared in this way is that you will have money on hand without having to worry about whether your bank—or any digital transaction system—has survived whatever doomsday has hit your corner of planet Earth. Furthermore, it’s in your best interest to have money nearby in case it is unsafe for you to leave your home for some time. The best options available for you is to stock up on a variety of cash and precious metal items—precious, and even rugged, coins, bullion bars, and gold jewelry.
You might think that cash is the better option here, as you can store large wads of bills with ease, but that cash might not fair well in the long run—as considered in points (2) and (3).
- Cash Won’t Be Around Forever
Precious metals are at a greater benefit to cash for the wear and tear they are able to withstand over time. Dependent upon the conditions of the doomsday world, the cloth of your cash might not stand up to whatever debris and natural wear it comes into contact with. Even if your gold and silver get a little beaten up, it will still harness its innate value, being useful no matter the conditions.
Cash—as a marketable currency—might not withstand an apocalyptic event either. Similar to the market depressions that hit countries like the United States and Germany in the first half of the 20th century, the value of the dollar might plummet to extreme levels, becoming more or less useless. The likelihood of this happening with either gold or silver is quite low, though, as the intrinsic value of these precious metals is far above that of paper currency.
Even if you’re not convinced and you don’t think precious metals are the primary investment for you, it is still in your best interests to have some as backup.
- Gold and Silver Go a Long Way
Even today, the spot value of both gold and silver is quite substantial. The benefit of having some gold and silver items on hand cannot be overstated. While the value per ounce of these items is noteworthy, there is something to be said about the allure that these items offer. Whether used as a cash transaction or as a form of bartering (4), precious metals in the forms of rings, necklaces, collectors coins, and bracelets can be helpful if you need the aid or goods that someone else has available to offer.
- How to Barter and Influence Others
As stated before, you can’t underestimate the value that gold and silver can provide when attempting to influence the actions and emotions of other people. If you were to find yourself in a bind following the apocalypse, a beautiful, shiny golden ring or an impeccable American Silver Eagle coin can capture the attention of whoever it is you’re trying to convince/influence.
With such precious metal goods in your inventory, you’ll be able to trade with others even if the normal systems of payment and trading happen to be wiped out. In need of someone’s services, such as woodworking or welding? Offer them some gold and silver coins, or a gold pocket watch! Need protection from a group of people who have taken power in your region? Provide them with a gift made from precious metals and increase the likelihood for them to respect both you and your family!
- To Fight Inflation
As stated earlier, the likelihood of the USD being hit by an aggressive amount of inflation is quite high. The last thing you want to do is stockpile a large amount of cash to only have it become nearly useless.
In such an event, gold and silver are one of the best bangs for your buck. Per expectations, it might even be expected that the spot price of precious metals might increase whenever the USD is hit by inflation. While paper currency has become the standard within the past century, the historical value of both silver and gold has stayed true. For such reasons, it is best that you think ahead and make sound investments when prepping.
When prepping for doomsday, you want to make whatever moves you can to protect yourself, whatever the conditions might be—natural or manmade. Your best option is to guarantee that you have a large list of items on demand there for you in the event of the worst. Be sure to take the time and stockpile the basics needed for survival—clothes, shelter, food, and water—while also securing precious metals to keep your finances safe and sound.
About the Author
Justin Fraughton is the Head of Marketing and Content at Provident Metals, a recognized and trustworthy supplier of gold, silver, platinum, palladium and copper bullion coins and bars. Justin is an avid prepper and working on building up his own homestead and enjoys blogging about his experiences.