A Prepper Question on Gold and Silver

This is a question posted by prepper paladin and I think one good reply on American Preppers Network .

For those of you who bought gold bullion or coins and/or silver coins, etc. – what are you going to do with the coins when the SHTF?- The silver, I can see, I purchased some when Crusis was espousing about it last year,,, but gold coins? The banks wont be able to give you any change, nor will china-mart or the grocery stores… so what good is it?

Reply,posted by Crusis:

Another thing to consider is what you’re prepping for. If it’s an end of the world scenario where 99% of everyone is dead, then you’re right, there will be no need for gold or silver. You’ll probably be able to find all the food and ammo you need, however, because those who had it are dead and you can simply get what you want until nature reclaims it all and you have to return to hunter/gathering lifestyle just to live.

If it’s not like that, however, no society has ever existed that didn’t have a medium of fair exchange. Coins have been around forever, and mostly have been made from Gold and Silver. In the Wiemar Republic, just before Nazism took over Germany, paper cash was worthless. People used gold and silver as a medium of trade. A single ounce of gold would buy a you a city block of real estate in Berlin. When Argentina collapsed a decade ago, the people who were able to feed their kids and buy goods when the banks closed were those who had gold and silver. Read Ferfal’s blog.

I have both gold and silver, a bunch of it is now snugged away nicely in a hole in the ground because I no longer trust the banks to be open should the Greece issue come to default. So I put it somewhere that I can get to it no matter what happens to the financial system. The rest is still in a safety deposit box.

I believe that as long as society exists that we’ll be able to use gold and silver as real currency. I believe that if things are so bad we can’t, their will be plenty of people who no longer need their possessions because they’ll be dead and we’ll just set up what we need provided my family survives. Planning for a partial collapse seems the way to go to me. The likelihood that you will be one of the few to survive a total population collapse is pretty small, after all.

BTW, the concept of ‘change from a dollar’ works for gold too. An ounce of gold is basically 40 1oz silver coins right now. If you go to the local market and you have an ounce of gold, someone should be able to break it into 40oz of silver for you, even if there is a small fee involved for that service.

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