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Buying silver

Discussion in 'General Discussion' started by sludgefactory, Sep 3, 2012.

  1. sludgefactory

    sludgefactory On Hiatus Banned

    So I've seen an article on here about buying silver. My question is, is there a reason from a prepping standpoint to buying silver? It seems that silver wouldn't do much for you when that money could be spent on food or other supplies.


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  2. BTPost

    BTPost Old Fart Snow Monkey Moderator

    The thing about PMs, in a Prep'er Household is, You don't invest in them, until you have all your other bases covered. Food, Shelter, BOL, Security, Comms, come first. Then you put some into PMs, as a hedge against Inflation and other financial interests.
    oldawg likes this.
  3. sludgefactory

    sludgefactory On Hiatus Banned

    What does PM mean?

    I guess maybe I'm thinking to far into this? I'm kind of new to this though so i don't really know what a realistic scenario would be to prep for.

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  4. Smitty

    Smitty Monkey+

    Precious metals.

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  5. BTPost

    BTPost Old Fart Snow Monkey Moderator

    I would Prep for three senerios, when starting out...

    1. Build Preps for 72 Hours... Short term, natural disasters.... Then work on extending that to......
    2. Extend Preps. for 7 days.... for Longer term disasters.... Then....
    3. Extend Preps to one Month.... for personal disasters of that length.... then push your preps out to what you think, you can safely store....

    This will prepare you for the basics.... and you can then add, or extend as you learn the ins and outs of The Prep'en Lifestyle.
    72 Hours is very doable, as a start, with minimal expense to the family budget.....
  6. cdnboy66

    cdnboy66 Monkey++

    I just buy sentimental coins for my Grandkids ( should I ever have any)
    coins come in all sorts of interesting collections, silver being the easiest to afford
    there are plain silver coins, numismatic valued coins, collectable coins...etc etc etc

    I keep them in the boat....;)
    VisuTrac likes this.
  7. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++


    When i owned silver (recently had to use a bunch of it for an emergency) I went strictly with Canadian Maple Leafs, American Silver Eagles, Austrian Philharmonics, generic rounds and 90% us silver coinage.

    No collectibles, no numismatics. I figure if it comes down to SHTF, no one is really going to care if there are only 10 of a certain coin in existence it's going to be amount of silver contained in the coin.

    collectibles and numismatics are in my opinion speculation in the long term. May be good if you buy low and flip for a profit, but other than that they are a gamble (again IMHO)
  8. cdnboy66

    cdnboy66 Monkey++

    yeah, I agree....but I really do buy them for the kids ;)
    I have bought silver Maple Leafs for Kids that I know for the year of their birth etc....most new parents get a big kick out of it

    I bought some Olympic collector coins when they were held in Vancouver, because I still have the ones my Auntie bought me in 1976 from the Montreal Olympics and they are worth more than the $15 she paid for them.

    The Canadian Mint has New Baby coins, Wedding coins etc www.mint.ca

    It's actually a great site...but they confound me because you can not buy Maple Leafs on the site
    you can sign up for their coins online to auto ship the $20 coins for $20 ( 3 per household)
    yeah, in a real SHTF situ...it's going to be worth less than $20, but long long long term, they may have some collector value for the grandkids

    or they may be as worthless as currency....time will tell, but you are right, it is a bit of a gamble so I carefully hedge my bets!!
  9. sludgefactory

    sludgefactory On Hiatus Banned

    I may have to put a few together but obviously from what every one is saying silver is like one of the least necessary things to stock pile. I guess if the werewolves start taking over you might need it though. Lol. Seriously though thanks for all the input. I'll be putting up some new threads soon because there are some other basics that i just don't really understand yet.

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