Silver is an ideal commodity for every prepper, generally speaking, the price of silver is going up every year. This means that if you buy some silver as a backup plan then the value of your silver will go up every year. The longer you can keep the silver the more valuable it will be, and as silver is a commodity its value will not fluctuate as much as with a currency, although the quality of the silver is extremely important.
Ideally, every prepper should have 6 months of rent in silver, which is around 222 OZ of silver. The price of silver is constantly getting more expensive, but you can simply calculate how much silver you exactly need by calculating how much 6 months of rent costs you, and then check the current price of silver. The good news is that once you buy the silver its value will go up slowly every year, so only sell it if you need some emergency money.
You can get silver in various forms like coins, bars, and bullion. My recommendation is to start with silver coins Click here to check it out on Amazon.com
If you look around in our modern history to what happened in Greece, Argentina, and Venezuela that really got hit hard by a local economic collapse where people still managed somehow to survive where the value of the currency was almost zero. Silver gives you the ability to pick up supplies and things that you don’t have or you can’t get, and in some cases, it can temporarily replace FIAT currency.
Stockpile on food and other supplies which you may be needing in an SHTF scenario but also keep in mind that if the SHTF crisis takes a long time to pass or settle you will be needing some type of item which holds its value even if the local currency is worthless. Have a plan to put some silver aside, if you are not able to do this maybe look at other types of items that you can use as bartering like food, ammo, and so on.
Having some silver will give you a lot of options because nobody knows what could happen in the future. A lot of preppers have mixed ideas on stockpiling silver for SHTF and a lot of preppers will say that you can not eat silver, which is true but you can’t eat money either, the point of having silver is to have some sort of ability to barter for other items which you may need. Silver has been the currency for mankind for a very long time and it will be used as a currency for a long time even after the current FIAT currency is long gone.
It is vital that you invest some money in silver as part of your SHTF plan, it is all about being prepared for the future. I am not an economist or a silver expert, I am a simple prepper but what I like about silver that it is a hard asset, it is a currency and it has a known value. Silver has a number of different pros and cons over gold as there is less silver in circulation in the world than gold. One of the great thing about silver is that is being used in different kind of industries mostly because it is a superconductor of electricity. If you want to know why a lot of preppers should invest in silver then check out my recent article Why preppers invest in silver? ( Top 7 Reasons ).
Preppers will use silver to barter for items during an SHTF
One of the things that happened in Argentina back in the early 2000s is that their economy almoust collapsed entirely. Due to hyperinflation, the local currency was so worthless that the local population started using silver instead of currency. People would go to grocery stores and use it as an alternative currency instead of the local currency as the value of the silver was more stable than the local currency.
Silver allowed people in Argentina to use silver as an asset to protect their wealth and to have something with which they were able to buy everyday necessities. There are a lot of silver exchange shops in the US also which have opened up recently and even some local businesses that accept silver or gold as currency like pawn shops.
In the case of an economic collapse the local currency will be worthless as the governments in times of crisis tend to print money thus diluting its value and in the long run, this will have a snowball effect of inflation making the currency worthless. If you don’t think that your local currency one day cannot be worthless in an economic situation upheaval you just have to look at our recent history. If you want to know which kind of silver is good for prepping then check out my recent article Best silver for Preppers ( Top 5 ).
Preppers invest in silver because it is a tangible asset
There have been several economic collapses throughout our history like the one which happened in 1929 the only difference from an economic standpoint between now and then is that back then the money had a tangible value due to its gold standard. This means the value of the US dollar was directly linked to the value of the gold this made the dollar or any other currency that used the gold standard have an inherent tangible value.
In 1971 president Nixon abandoned the gold standard and in the following years, most countries also abandoned their gold standards. This means that the inherent value of the current US dollar comes from how much money is in circulation and how much debt it is producing. I don’t know about you but I would feel a lot safer in a world where money has the gold standard instead of the current situation. If you want to know how to store your silver safely then check out my recent article How to store silver safely ( In 10 Steps ).
Silver keeps its value even in an SHTF situation
There is an old saying, money talks and bull crap walks, the current currency is like an IOU note or a promise with 0 actual value other than our own perception of its value, for some people $100 is nothing while for others it could mean food for a month. Having some cash in an SHTF event is also a good idea but if the economy collapses you will have some fancy toilet paper at best.
One of my favorite methods of investing in silver as a prepper is to buy junk silver which means that I buy coins that have a high amount of silver in them. A lot of people will buy collectible coins, these are graded and have a certain value due to their rarity but my recommendation is to stay away from these. The big problem with the collectible silver coins is that they are only valuable due to their rarity, in a turbulent economic situation where people will use silver commercially they are going to look at the value of the actual silver and nobody is going to care how valuable the coin is due to its rarity. Silver is also an extremely good gift for preppers, for more information check out my recent article Gifts for preppers ( Top 26 Best Gifts ).
For example, the Walking Liberty coins are minted in the US and they are 100% silver whereas your standard coins are only 90% silver and 10% copper. Usually, coins made before 1964 are 100% silver all others produced after 1964 are diluted with other metals making them less valuable. The amount of silver these coins contain has been lowered, a lot of coins produced in 1966 are around 40-50% silver and coins, and today they have so little silver in them that they are considered junk.
As a prepper, you should always have a plan B, if you hoard up a lot of silver but for some reason, you can not rely on it in an SHTF situation you should also think of owning different types of items that you can trade such as ammo and food. Having a good amount of silver stockpiled is very important for any prepper and if we are lucky and there will be no major SHTF situation you can always sell your silver with a good profit as its value keeps going up over the years. Some SHTF situations can have massive consequences for humanity, like a pole shift, for more information check out my recent article Pole shift effects on humans ( Top 16 Effects ).
You should have enough silver stored away in the event of a major disaster that you can use as a bartering item. Who knows how long will the SHTF scenario lasts and if you don’t have silver or any other precious metals you might be forced by circumstances to trade other essential items like ammunition or even food. In addition to having silver keep in mind to have them in a smaller form like coins which you can quickly trade, if you have a 100 oz silver bar it will be extremely difficult to barter with especially if there is no rule of law.