Sunday, August 11, 2013

3 Reasons You Shouldn't Save Gold and Silver

Many people decide to become a prepper because they have a doubt about the future of our current economy. Gold and silver is seen as a hedge and protection against a failing dollar, but also as a necessity in the survivalist world according to famous preppers. I don't agree with them and here are my 3 reasons gold and silver does not belong in your prepping plans.

1. Cost is too high

As of this writing, gold is selling for over $1300/ounce. $1300 can buy a whole years supply of food for one adult, a tactical rifle, 1000s of rounds of ammo, or even a down payment on retreat land. The list goes on and on. What is an ounce of gold really going to do for your family?

2. Precious metals will not be used for currency

Despite everything you have read, precious metals will not be used for currency exchange if the economy collapses. Survivors will turn to bartering goods and services and will have little interest in gold or silver. Why will they turn to bartering? Because a very small percentage will be prepared and the others will be scrambling for supplies. It will take months or even years before metals have their place in a bartering system, because people will be too concerned with the essentials.That brings into the final point.

3.  Limited identification methods

How many people do you know who can properly identify a coin which is 90% silver? How many people can identify real gold versus fake gold? The fact that I can still find circulated silver coins is a bad sign, folks. Most of the general public has no idea there is value and they don't really care. Do you think that mindset will change when their cold and hungry?

If you already have a small stack of gold and silver sitting in a lockbox, I highly recommend you sell it and use that profit for prepping supplies. Supplies will do more to guarantee your survival than a few silver coins and gold jewelry.

Keep on prepping!

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