Silver is used in industry, in jewelry, and as a method of wealth preservation. You might also say that it is a form of currency for collapse. Economic / Financial collapse.
Silver has been used as a medium of exchange dating back to the earliest of records. It has always been considered to be a form of money.
Even up until the late 19th century, most nations money were on a silver standard. Silver coins making up the main circulating currency.
Silver coins are no longer used as national currency. It has all been replaced by Fiat ‘paper’. However silver is still collected, stacked, and invested by many people. Why? One reason is a hedge against inflation and today’s rickety financial systems.
People who know the history of currencies know that EVERY ‘paper’ currency ever created has ALWAYS collapsed. Ours will eventually be no different.
And most critical-thinking people today know that our current system and foundation is no longer on solid ground…
I find this to be interesting… That is, after you have purchased some of your own physical silver… hold a silver ounce in one hand (such as a US Mint 1-ounce Silver Eagle), and hold a 20 dollar bill in the other. While at todays silver price, the spot price is about $22 (though more with dealer premiums), that paper twenty-dollar-bill doesn’t feel as good as that silver ounce in your hand…
It makes sense to keep some physical silver in your possession
For the preparedness minded, it makes logical sense to keep some physical silver in one’s possession. It is one form of money that has been accepted for thousands of years. And it will continue in this way – even long after the complete collapse of todays existing Fiat paper currency.
While a reflexive ‘knee-jerk’ reaction from some people might be to say something like “You can’t eat silver, so what good is it during a time of socioeconomic collapse?”
The fact is, there are innumerable hypothetical collapse scenarios. Silver is simply one way to preserve one’s wealth, and to have an emergency means of barter and exchange for ‘just in case’.
Silver hedge against inflation or collapse
Lets say that the dollar is being inflated away (it is as we speak). As inflation eats into the purchasing power of todays Fiat money (e.g. the dollar), it costs more and more to buy goods and services. There are plenty of examples throughout history when a nations currency entered a period of hyperinflation (which the dollar may do one day too). When that happens it’s purchasing power will diminish greatly, and quickly. During times of inflation (and hyperinflation) precious metals such as silver will become higher and higher priced within the inflated currency – thus holding it’s value as it were.
Lets say that today’s current paper currency has one day become essentially worthless (post-collapse), and regional bartering has become the new normal during ‘the collapse’ period. While goods and services are a means of exchange, there’s little doubt that silver too will be a medium of exchange for payment and trade. It may even become an underground currency during a time when national and/or global digital currency is mandated (which is apparently coming).
During such a time, even a 1-ounce silver coin may become a very high value – requiring the use of smaller denominations of silver for commerce & trade. This will likely include the use of pre-1965 coins (e.g. quarter, dimes) that are 90% silver. Most coins minted in the United States before 1965 were 90% silver and 10% copper.
Want to know how much is a silver quarter worth? You can calculate the value of any silver quarter by multiplying the silver content with the current market silver price. Each 90% silver quarter contains 0.18084 troy oz of fine silver. One ounce of silver is equal to 5.5 Silver quarters.
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You might consider to acquire some amount of physical silver – not only for financial insurance but for diversification and peace-of-mind. You might consider to diversify and convert some of your fiat paper currency into physical silver as insurance against the current collapsing financial system.
Note: One’s own preparedness need to be in reasonable order first!