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Gold and silver?

When the SHTF what can you do to protect your finances and assets now and then? Share your advice and tactics here.
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Benchwarmer
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Gold and silver?

Post by Benchwarmer » Wed Jan 10, 2018 1:29 pm

I am curios it find other people's opinion on collecting cast and minted gold and or silver?

Personally collecting minted silver ounce coins I think is a good trading size coin for a economic collapse, war or prolonged mass power outage ( for what ever reason) only issue I have is if a time comes when I need to trade back to AUD for what ever reason ( job loss, severe injury) it will lose 20% on the ounce

Where as a much more expensive metal I.e gold will lose around 6,7% per ounce. But trading small items with gold just won't work ?



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MasterChief
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Re: Gold and silver?

Post by MasterChief » Wed Jan 10, 2018 6:52 pm

Hey benchwarmer, I'm not convinced that gold and silver are the way to go.

Agree that it makes sense as that's what we used to do before the current financial/monetary system was setup, but not sure if that'll be what we return to or if its worthing prepping with those metals.

I think skills will be needed, and they'll be in sorter and shorter supply as we have less and less people in apprenticeships each year.

I think being able to trade / barter specialised skills for food and shelter is certainly 1 avenue, but who ever is left will they be left because the prepared so the skills wont be worth as much?! :o

This crystal ball gazing doesnt help and you have to make some decision i know. :roll:


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Scott
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Re: Gold and silver?

Post by Scott » Sun Jan 21, 2018 7:41 am

I agree, Gold and silver tokens won't get you far. Food and water will be the highest form of currency in the first few weeks after a major catastrophe...



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griff
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Re: Gold and silver?

Post by griff » Mon Jan 29, 2018 10:05 am

Basic currency like gold and silver they recon....Like you say,that and food items...I guess the batter system would soon be the way to go.



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StephanH
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Re: Gold and silver?

Post by StephanH » Mon Jan 29, 2018 10:19 am

You can't eat Gold or Silver and it's heavy

Fair enough, if you have the appropriate skills and ability, having cash/trade-able valuables and using other people's ingenuity has always been the way to go. But if in any of the given scenarios you don't have access to a large group of people or can not for security reasons access them then your Gold and Silver are a dead weight that stops you from carrying other "stuff" that'll help you survive. Letting others know you have stuff to steal is a risk you need to consider.

My 2 cents

Cheers
Stephan



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MasterChief
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Re: Gold and silver?

Post by MasterChief » Mon Jan 29, 2018 10:26 am

Hi StephanH and welcome to the forum...

Carry weight is so often overlooked. Thanks for highlighting it the community.

Also being able to dump and run - that is being ready to leave [the gold and silver] behind might be difficult for some people.

Store caches in different areas might be a solution but you gotta help no-one else finds it with a metal detector 'accidentally' before SHTF...

It all depends how bad it gets and what happens in the aftermath..that, none of us know.


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GirlFriday
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Re: Gold and silver?

Post by GirlFriday » Tue Jun 05, 2018 8:32 pm

I dont think precious metals would be worthwhile adding to my stores. Food and water (as someone else said) would be more valued. I have stores of honey and beeswax which IMO is more important. I guess it depends on whether you think things will return to 'normal' after a SHTF situation, a 'normal' where precious metals would have some monetary value.



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