SILVER – Currency For Collapse


At the highest level, silver is used in industry, in jewelry, and as an investment (and/or wealth preservation). Together, these three categories represent more than 95 % of annual silver demand.

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 were on a silver standard as to their ‘money’, with silver coins making up the main circulating currency.

Even though today’s silver coins are not used as national currency and have been replaced by non silver coins and Fiat ‘paper’, silver is still collected, stacked, and invested by many people. Why? As a hedge against today’s rickety financial systems, modern currency and devaluation thereof.

People who know the history of currencies know that EVERY ‘paper’ currency ever created has ALWAYS collapsed.

And most critical-thinking people today know that our current system and foundation is no longer on solid ground…

Here’s a challenge:
After you have purchased your first 1-ounce silver coin such as the Royal Canadian Mint ‘Silver Maple Leaf’, hold that coin in one hand and a $20 bill in the other… While they both are of a similar worth based on today’s approximate silver price (almost $17 at this moment in time), which one feels more like ‘real money’ to you? It’s an interesting thing. The silver coin sure feels more like real money to me…

For the financially preparedness minded, it makes logical sense to preserve some of one’s wealth in a form that has been accepted for thousands of years – silver.

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 that there are innumerable hypothetical collapse scenarios – many or most of which are not all-out Armageddon. Silver is simply one way to preserve one’s wealth, regardless of how much or how little…

Post Collapse.
Lets say that the dollar is being inflated away (it actually is as we speak), and enters a period of hyperinflation (which it likely will one day). When that happens it’s purchasing power will diminish greatly. While ‘the system’ holds together during pre-collapse, precious metals such as silver will become highly priced within the inflated currency – thus holding it’s value and very likely increasing its investment value as others pour into the commodity to save their own wealth. In this scenario, silver will have been an extraordinary investment.

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’. While goods and services are a means of exchange, there’s little doubt that silver too will be a medium of exchange as payment and trade.

Pre-1965 Coins.

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.

Tip: These coins contain 0.7234 ounces of silver per dollar face value.

Example: 90% Silver Roosevelt Dimes

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 system.

Note: One’s own preparedness need to be in reasonable order first!

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  1. The local coin shop buys and sells “junk” coins. These are pre-1965. Junk means they have no value as a collectable due to their condition but do have value as silver. Knowing the value of a silver dollar dollar makes it easy to calculate the worth of the other denominations as a half dollar is simply half of what a silver dollar is worth. a dime a 1/10 and of course a quarter is a 1/4 of the ounce.

    The shop buys below value and sells above, typically 10 to 15%. A good customer might actually get it at its worth as the shop will still be making a bit of a profit as they bought below value. A couple of coins a week are affordable for most if there is a decent shop nearby. Over a years time they add up.

    Silver Eagles are 1 troy ounce which is kind of confusing as it is larger than a regular ounce. A troy ounce weighs about 31.1 grams and a regular ounce close to 28.3 grams. A junk silver dollar weighs in at around 27 grams. Always a good idea to carry a magnet as some counterfeits are out there and may have a steel core. Other counterfeits are harder to detect as they may have a non magnetic core but the weight will typically be off.

    I frequently follow coinflation for daily value of PMs. My last small purchase of gold was through Ken’s advertiser, Golden Eagle and they also carry silver. I was very pleased with the purchase.

    Sadly my local shop will be closing it’s doors as the owner died and his wife has been told that the landlords son wants the space to open up a liquor store.

    1. me;
      Your local Coin Shop is all so typical of what’s going on now days it’s frightening.
      The owner of the building has a tenant that probably have paid for years and years for the “Space”, literally buying the building for the Landlord.
      Now the landlords Son wants to open a Liquor Store.
      Wonder who long that will last when the Landlord literally kicks out a paying Business to give it to their son for a store.
      One ask how does that relate to this Article?
      When/If TSHTF, what will be more valuable? Silver or Liquor?
      PS, yes I totally agree, get some PM’s If/When you have “your ducks in a row” with other preps first. YA cant eat Silver (but you can Barter for it).

      1. Store the booze, a stiff drink is better, every time. Booze has a lot of use, other than consumption.
        Silver, well, in my world, has very little value. Skills.! This is where the real value exists.! Can’t fill an empty belly with silver, when no one wants it.
        Do I have silver? yes. Have gold too, been panning my own for over 40yrs. never sold a bit of it. Kids think it’s way cool to see real gold.

    2. Not valid… one silver dollar contains .7735 oz silver
      four quarters contain .7234 oz
      difference is .0501 oz

  2. When you have everything else in your prepping supplies than a little P.M. is great. I personally like junk silver and the ever popular lead,copper and brass. Gold is the metal of kings, silver is the metal of the people. As I only know one King and His streets are paved with gold, I my not need much gold here.

    1. Gold is the currency of kings, Silver the money of business and Debt is the bank’s slavery of the people.

    2. “Gold is for the Mistress, Silver for the maid,
      Copper for the craftsman cunning in his trade.
      “Good” said the Baron sitting in his Hall,
      “But iron- cold iron- is the ruler of them all.”
      -Rudyard Kipling

  3. Depending on what exactly the SHTF situation is silver is a useful item. EPM grid down .999 silver plus 27 or so volts DC plus distilled water = colloidal silver solution useful for many ailments. DO NOT USE COIN SILVER, copper in solution is Not Good for you.

    Otherwise how much silver will you give me for that hen or that basket of apples?

    In an economic collapse Silver and Gold can help you keep some of your wealth in an asset that cannot be printed away. The old saying about a Depression is the winners lose the least of their wealth. However many risks of theft by decree or thuggery (any real difference eh?) In Bosnia only those who had the ability to get outside the war zone could make absurd profits trading goods for Silver and Gold. Inside that zone your trading real wealth at a major loss for food and such.

    As Ken said Food and basics FIRST. Then productive assets like Apple Trees, fish ponds and such. Then more portable wealth esp. if you need to flee the country, just have a plan or two for the boarder thugs.

    1. Michael,

      It sounds like you have some experience making colloidal silver. I tried it once, maybe you’ll know what I did wrong.

      I bought .9999 pure silver wire, punched two holes in the top of a mason jar lid, inserted two rubber grommets as insulators then pushed the anode/cathode silver wires into the jar filled with distilled h2o. I used 3, 9 volt batteries clipped together in series as the power source. 24 hours later I had a gray, hazy, crusty, foul-smelling product. It was nothing at all like store- bought. Any ideas how I may have screwed that up?

      1. My first thought is that you were sold .9999 silver COATED wire and the copper or other base metal was eroding into your solution. 2nd thought your distilled water was contaminated.

        I have little faith in buying silver wire. I use a .999 silver eagle for each anode. They last almost forever with little change aside from some discoloration (easily cleaned off). Works well for me.

  4. One thing to consider is the mindset of the people using the coins. While they might realize intellectually that paper money is worthless, most people will likely still retain a belief that their coins are worth something. If the majority of people believe it has value, it’s money.

    At least in the short term, coins other than silver might have real value.

    1. Accurate point Lauren! The value of ANYTHING is based on what someone else will give for it.

      An hour of unskilled labor, a visit to get a bad tooth pulled, a laying hen all have various values today. An troy ounce of silver has the value someone will give for it. However when SHTF remember that having too much value in your hand may get you killed.

      1. Coins currently have the bullion value of nickel and copper or cupronickel, Kyle Bass made a famous investment where he purchased 10 million dollars in nickels and then put them in a warehouse. You see right now a nickel coin costs exactly a nickel to manufacture, and in ten years time it might cost a dollar to manufacture out of raw goods, in which case his investment is sound.

        I expect coins to still function as they still have tangible value, I expect notes to be worthless. Imagine instead of cutting a silver coin in half you just use coins.

  5. Precious metals…..value now…. value in future…..value when normal commerce grinds to a halt. If anyone truly knows, without any doubt, please share that knowledge.
    If I’ve got an extra case of canned food and no one within a two day walk does, and your family hasn’t eaten in a week, how much of your silver/gold would you barter for it? Current market value? Whose market based on what currency? If I accept your precious metal in trade, who will accept it from me to replace my new deficit of a case of canned food?
    Please don’t tell me “well, I’ll just kill you and take it!”. Those type transactions can be two way streets. Maybe the fact I’ve got extra food indicates my foresight might mean I’m better prepared for violence also.
    I have some silver and gold put back. Not for teotwawki, but for normal devaluation of the dollar. A hedge against normal ebb and flow of economies. Funny thing is, the land I currently live on was bought for $500 an acre 12 yrs ago. Currently, surrounding property of similar size, is bringing $2ooo-$3000 an acre. I guess I did good investing in precious dirt.😊

    1. Dennis;

      Interesting point you bring up on “Dirt” as one that has never ‘lost’ $$$ on Dirt, I will say that I have also not lost $$$ on PM’s. but if based on the same $$$$ the Dirt has gained me more worthless $$$$ than ever selling of the PM’s.

      Food on the other hand has done two things for me,
      1. Given me more mental security knowing there is a meal tomorrow If/When. Not saying that I could not lose a LOT of food just because ‘something happened’ but it’s comforting to know it’s there
      2. Made me fat.

      I will also say that having a little PM’s is just as comforting, knowing if/when the economy totally crashes OR inflation hits the double digit AGAIN there is something in the wallet if needed.

      Whats interesting that the $500 dirt you bought that is now $2-3K, I wonder how much of that $$$$ has already been chewed up with the “No Inflation” we are seeing now?

      1. I love that “no inflation”
        Sorta like how my tractor i paid 26k for is now selling for 45k+ or my arc welder that cost 3800 now sells for close to 5k in 2 years

          1. NRP
            Yup, 8.75 for a box of cereal, 7.55 for a loaf of bread, 6$ for a half gallon of milk,,,
            And thats at the chain market, go to Whole foods and you better have a high limit on your cc

          2. Nailbanger – 7.55 for a loaf of bread?!? That’s the prices now?!? My wife just bought a loaf of Rainbow thin sandwich white bread for $2.19, and a half gallon of milk for $2.15 a few minutes ago out here in rural Oklahoma where the prices are high! Wow!

            It reminds me of 1984 when I sent out a bunch of letters to Chambers of Commerce around the country to see what the chances of employment as a Journeyman Electrical Lineman might be in their area. Hawaii sent back a letter inviting me out to consider employment with them, but in capital letters at the bottom it said to make sure that I BROUGHT ENOUGH MONEY TO LIVE FOR 3 MONTHS, PLUS PASSAGE BACK. I got a kick out of that, and knew exactly where they were coming from. Hehehe

            CD in Oklahoma

      2. Given the right conditions, a man will kill for a potato. Silver is not for these conditions, but lead and brass are.

    2. When things get dicey i would rather have the bag of rice and a bunch of cans of spam and my chickens scratching around than a shiny trinket,,,,
      I know people with silver, they can trade me for vegetables or bread after things stabilize,
      Like you said, that use of violence thing goes both ways, some monsters are best not bothered

    3. I tend to evaluate SHTF transactions a little like Col Coopers color code. These came about from my observations in Bosnia and the danger zone of Baltimore MD.

      You have stressed but reasonable folks responding well to work for assistance offers.

      You have Gimme Dats and other liberal “You MUST Share” who may or may not use violence depending if they can get away with it. Liberals will be quick to turn you in to the Police for a Good Citizen Award (and some of the loot).

      You have crazy people, full on druggies and MOBS of Gimmie Dats or Social Justice Warriors (what an OXYMORON). Very Dangerous not fearful of the firepower you have.

      Know WHO and WHAT you are trading with. Treat the stressed with caution and respect and you will be successful.

      The rest I suggest you show nothing that will tempt them. Even that pretty nice AR is tempting to someone close enough to make a try for it. A sock with a rock is EFFECTIVE as is a knife.

    4. Here is a problem as I see it with your theory and understand I am not trying to start an argument just giving my opinion. While the dirt you bought has tripled in value you say, if you sold it you would have to buy back other dirt that had tripled in value also so if you sold 10 acres you bought for 500 for 5000 you would have 50,000 but then if you wanted to but 10 more acres it would then cost you 50,000 or a wash. I plan on living in the home I have now until I die so weather it goes up or down in value doesn’t mean anything. Just a thought.

      1. poorman, actually my point was that, like anything of intrinsic value such as land (dirt) and precious metals, it tends to follow inflation over the years. I’ve got some personal history with this area I bought my land to retire on. My Dad bought 320 acres here in 1970 for $10,000 ($33 an acre). The natives laughed at him as they had purchased their land thirty-fifty years prior for 50 cents an acre. My brother bought my Dad out ten years after he purchased it, for $100 an acre. Twenty five years later, I bought my 45 acres adjoining the land Dad originally purchased, for $500 an acre. Twelve years later, a forty acre plot adjoining mine sold for $3000 an acre.
        Now, in this instance, Fifty cents increased to $3000, a 6000 fold increase from the 1920’s. Gold in the same time period increased from $35 per ounce to the current spot price of $1,324, a 38 fold increase.
        This land I’m talking about is little changed during this time period, still remote, rugged, and only marginally more accessible than it was when first homesteaded.
        Granted this is one geographical example based on a approximately 100 year time period. But if gold is the inflationary hedge of choice, land far outperformed it, in this example at least.

        1. What about land taxes Friend? A lot of folks are voting with their feet in Indiana because the Liberal Taxaholics are milking the land cows too hard to fund their “social programs”.

          Even here in NH I pay 300.00 a month in Tax Rent for my little place. I wonder if they will get to accepting Silver for my taxes.

  6. Whether one believes in collecting the old coins or silver, better to have some in reserve, just in case. I am not stating one has to go out an purchase coins now, but to save for the time they can afford a coin now and possible later.

    If not a coin at least a silver slug as we refer to them. They are pure silver but come with different marking from the mints which issue them. Usually less expensive than silver pre 1965 coins depending on the place which one purchases the silver.

  7. If one does not have a silver maple leaf in their possession, or seen one in a seller display case. Those coins are a work of art, very beautiful, so is the maple leaf gold coin.

    1. AntiqueCollector,
      Numismatics is a hobby of mine. Yes, the Maple Leafs are nice, and sold closer to Spot Price, but personally I love the American Eagle Silver Dollar. It’s based on a design from our old USA Walking Liberty 50 cent piece. Additionally if I buy from one of the online dealers, I’m not buying at “Bid” price which is usually close to spot, but “Ask’” price. “Ask”” price is what they sell the coin for usually preferred customers or to you as a consumer plus a premium.
      “Bid” price is usually what they will buy the coin back from you or sell the coin to another dealer for. These prices are usually set by a Numismatic Coin Paper called the “Green Sheet, “ published Weekly. Again it could be less than the Bid Price based on the dealers inventory.
      With both the ML’s and SAE coins there is an additional premium above spot silver price you will pay. Unless silver really takes off, you will lose money at today’s rate. For bartering purposes it takes $1.10 US Pre 1965 Silver coins, 50 cents, 25 cents, and dimes, to make one Troy ounce silver by weight.
      Also hardly ever mentioned is half dollars from 1965, 66:, 67, 68, and 69 have 40% Silver content in them. Additionally, some Eisenhower dollars which were sold by the US Mint have 40% Silver content.

  8. I’ve been pocketing “junk silver” for years! When I was much younger, I worked in a convenience store in the foothills of CA. You wouldn’t believe how many kids came in with coins from their daddy’s collections to buy candy! All I had to do was hear the metallic clink of silver in my hand to know! I would put the coins off to the side and at the end of my shift I cashed out… I paid the drawer for the coins I had gathered. Now, I have a decent collection by weight of those coins and I’m very glad I gathered what I did while I could. Those coins aren’t as prevalent as they once were!

    My wife and I started squirreling away cash into a credit union last year and we deiced to take 10% out and buy silver when the balance hit a certain level. Using that system, we acquired a decent amount of pure silver coins and bars for SHTF. That system was working well for a few months, when I started diverting my investments into brass and lead. Being a CA resident, I thought it was prudent to shift my focus before the current laws that are now in effect limited my buying power. Now that the brass and lead investments are at the levels I’m mostly comfortable with, I’m looking at silver again. I fact, I just pulled another 10% out of the CU to buy some more. :)

    Great article Ken, thanks for putting it out there!

    1. Rob,

      Last time I , ahh, thought about buying metal… the broker told me that California law is structured so that purchases above $1,500 and below $10,000 can be done anonymously, with no tracking. I’m not sure how that came to be, but I was very pleased to learn of it.

      1. Yeah… I found a couple of great guys that sell the PM’s. Can you believe that CA charges sales tax on purchases up to $1500? Thanks Moonbeam!

        As far as brass and lead are concerned, I kept those purchases under $1k per transaction… just in case!

      2. McGyver
        The .gov does not track your purchases over $1500.00 nor do you pay sales tax in the state of Ca but the seller wants a name for THEIR records. Think of something cute like Elmer Fudd…….

        1. AC,

          Actually ‘McGyver’ worked. I got an “uh-huh”, but it was good enough for the seller. I found a really super good, family owned coin shop through the local chamber of commerce. Anyone in my area of SoCal can find them in the NE corner of 8th/Mountain in Upland. California gold and silver exchange. Super nice folks. Very respectful of privacy too.

    2. I do a lot of business at convenience stores as that is the only place to get anything to eat in many small towns anymore. I always use cash and average at least a junk silver dime and eight or ten wheat pennies every month

  9. My next investment will be booze. For barter, pain killer, sterilizer, …. but since I am not a drinker except for a little wine or cider from time to time, I do not know what would be the best type to get??? Kind of leaning towards vodka but – maybe there are some other kinds of over-proofs out there. Also, is storage conditions (particularly cold) and aging a problem with some types – various caps could make a difference?

    1. I was just thinking that in Costco the other day, walking by the Jack Daniels and thought to myself i know a few folks who would trade a cow for a bottle of that stuff if things get dicey…
      My Tobacco is in the ground, coming along, got to get my loft put in so i have a nice place to cure it, then learn to roll cigars

      1. Mr. Banger,

        I’m just sitting here passing nervous time, waiting for a video conference job interview to start. I think a shot or two might be on my schedule tonight. Anyway, we had a grocery chain go out of business here a couple of years ago. I was able to pick up some rather pricey single malt scotch, MacCallan and such, essentially for the price of rot gut. I don’t like the stuff myself, but for those that do.. it has substantial value.

        As for the rest… Grocery outlet and TJ’s frequently have decent vodka on sale for $5.99 per 750ml. There is also a middle-eastern chain store that put Bombay Sapphire on sale four time a year …. $18.99 for a 1.75 liter. THAT is almost too good to be true.

        Yes I think it’s a good idea to have such commodities as barter items. Thankfully, I’m not an alcoholic, so the stuff mostly stays in storage.

        1. Yep, ive no interest in it personally, but i know a couple guys locally who will be quite unhappy when the booze runs out and they have things such as goats, cows, one has nice hogs, others have large tracts of land, they all smoke like chimneys and drink like fish, so in theory it doesnt even have to be a all out SHTF event but anything that causes their recreational hooch to dry up, would be their new best friends… not sure thats good, but have known these guys since the foggy days over 35 years ago. So are in theory old friends i just dont spend much time around,

      2. I bought some organic tobacco seeds a year or so back. Need to get it in the ground. The farmers around here grow lots of tobacco, wrappers and smoke.

    2. Consider vodka for its dual purpose of drink and sterilizer, Clear without the additives. Bourbon or sour mash for drink because people like whiskey. Half pints, pints and glass if budget allows.

    3. I should have prefaced this post by saying I have considerable amounts of silver, mainly in silver dollars and some 1 oz bars. But I wish to diversify my trade goods options. So I went off topic into liquor. Sorry Ken.

      1. Many years ago, I collected all kinds of commemorative and seasonal greeting type silver bars. They were embossed with pictures and phrases to suit the occasion. Several suppliers also gave them out as gifts. Back then, I think the price was around $2 or less but I forget.

      2. Silver and Liquor. Silver used to buy liquor back in the day. Both barter / trade items. Close enough to topic for me ;)

    4. Hermit, when buying booze to store long term, try to get it in glass bottles. I wonder how long those plastic bottles will hold up over the years, if they will contaminate the flavor of what’s in the bottle.

        1. poorman
          NRP had some comments about alcohol stored in mason jars – the seals would deteriorate, I think was his concern.

          1. We made choke cherry wine back in the 80s that eventually ate through the metal canning lids. Had to pitch it.

            CD in Oklahoma

    5. hermit us & all
      Since we’re on the “off subject”….

      Does anyone here know why a Shot of Whisky is called a “Shot”?

      Also do NOT store ‘Booze’ in a Mason Jar for long term, the Alcohol WILL get disfavored by the Lid, guaranteed.

      Lastly, if you’re thinking on storing ‘Booze’ I would suggest one learns how to make their own, aka Beer, Wine, and such. AND if you’re adventures learn how to distill “water”. Talk about a ‘skill’ everyone will want after TSHTF.

      And it is true that a man will trade ANYTHING (including his wife at times) for a bottle of booze.

      1. On the frontier, Liquor was traded for black powder. Hence a “shot” of liquor was the amount of liquor you could get for the amount of black powder used to shoot a muzzle loader one time. or so I have been told. Similar to where the term “Buck” come from. Deer hides traded for goods on the frontier. “That keg of nails will cost you 10 bucks”

        1. Verde;
          you are 99% correct, actually a “Shot of Whisky” was traded for a single 45 Long Colt cartridge aka a Shot.
          But like the “Buck” something to know if/when the Bartering starts. Not many will have Silver, but the availability of a good Whiskey from a “Moonshiner” may well be the currency of the day.

    6. Liquor actually holds its value if it is stored properly. I found an old newspaper with adds from the grocery store. When I compared the price of a bottle of Crown royal to the price of meat, they held up over 40 years later. So many ounces of liquor was equivalent to so many ounces of rump roast both then and now.

  10. I wanted to put my two cents in about using PMs post crash for barter. The general public has little knowledge on the monetary value of PM’s.. I truely believe food, alcohol, Med supplies, ammo, cigarettes and skills to hire out will be prime barter items until stability is gained and some sort of civilian government is in place that needs to set up a currency system for commerce and stability. Like the man said, you can’t eat gold or silver if your hungry.
    If you bought silver 20 years ago and are holding on to it you’ve made a pretty good profit but you need to figure in inflation.. If you’ve bought within the past five years your losing money in most cases as the price has declined. Personally I collect coins as a hobby, not as a survival hedge. I would be very careful listening to the Gold and Silver sellers as their always stating silver will sky rocket in the coming years. Don’t bet on it. I haven’t seen high silver prices since the late seventies when the Hunt brothers tried to corner the silver market.

    1. Not to argue with you but silver was up to about 46.00 an ounce 7 years ago. I am not saying I believe it will go back there but it was at the time.

      1. Poor man,
        You are correct, I forgot about that.people were buying it like crazy when it went above $30.00 an ounce but if you still had it today, you took quite a loss. 46-17= $29.00 loss per ounce. That’s if you could buy it at spot price which is tough unless your a dealer. Ouch!

        1. I didn’t buy any that high but i will admit I bought Junk silver at about 30 and ounce. Some was sold when prices went higher but I am sure I still took a loss on the other. To be honest I have bought silver from about 6.00 up to 30.00 over the years and still do buy some now and again so I really don’t know if I am up or down with it. I don’t really buy it to try and make a profit as I don’t sell it. It is more of a hedge against ” what if ” than anything else just like most of the other preps I buy. As with long term food while I have tried most of the different things I stock I don’t eat out of # 10 cans of veggies,fruit,meat ect. I don’t eat beans and rice every meal either ( 4-5 times a month) but I have a lot stored. I am lucky enough to be in a position that if I want to purchase another 10 ounces here and there i am financially able to do this without sacrificing something else so if things ever do go bad enough in my lifetime I have certain bases covered. If silver becomes important in a SHTF situation I have some. If not then I can melt it down to make bullets and shoot the werewolves lol

      2. Yup, they had to drop the value, couldnt have people knowing the truth of how worthless the currency was now, could we

    2. Oh Broadwing (and everyone)… go look up the youtube video of Mark Dice approaching people in the street and offering them a 100 ounce bar of silver for $25. Most people sneered at him and walked away. Others treated him like a weirdo or con-man. As I recall it took him the better part of a day to find a guy that agreed to the deal. Yes, ignorance and stupidity is a problem. Luckily, those types aren’t knowledgeable about much at all. I believe they will be the first ones to curl up in a fetal position and expire when things go bad.

      1. Those types will not make it. I have no concerns about their lack of knowledge in a post-collapse era. Because they won’t be around long enough to have to deal with it.

        But it is sad though. To watch the ignorance. Yet another reason why it’s crumbling to pieces…

    3. I would disagree. I coin roll hunt for silver and while most people I meet including bank tellers, don’t know the exact value of a silver quarter, they do know it is worth more than a regular quarter. Most of the small business owners I deal with know what it is worth and under the right circumstances would accept it in trade.

  11. I agree that silver is much more dependable than fiat money, however when the crash comes and the banks can’t be trusted and coin shops close and our neighbors are sketchy then what?
    Of course no one knows how things will pan out. My own theory (and maybe its wishing) is that things will go down hill quickly but haphazardly and opportunities may still present themselves.
    Until that happens I would enjoy articles about where and how one would benefit from their stash of silver. Thank you.

  12. I’ve heard again and again to get comfortable with the amount of all of your other preps before starting to buy PM’s. So I am curious at what point that occurred for those you have PM’s. Was it after you had a one year supply of food? Completely or mostly out of debt? 10,000 rounds of ammo for each firearm, enough first aid supplies to care for all of the wounded, radios and other gear safely stowed in faraday cages, and all of the other “toys”? I think it would be really interesting to hear about when people started to add PM’s to their preps, and weather of not it was a good decision at the time. Collection of PM’s seems quite low on my list of priorities right now, but I could see it happening once I am debt free.

    I am also wondering if anyone has considered buying Sterling at estate sales – silverware, candlesticks, various trinkets, etc. – to melt down into coins…

    1. At the present time with the currency/coinage laws on the books it is illegal for joe citizen to mint circulating coinage for use. A gentleman tried that a few years ago and was charged by the Treasury Department.
      Correction on one comment I made. It’s the Grey Sheet coin dealers go by for selling and buying coins, the Green sheet is for currency.

    2. MICO
      This a question that should be answered in the Saturday posting, so I will post under that forum. Ken gets enough grief from our buddy NRP……..who calls him old man…lol

      1. Antique Collector;
        Please remember that ‘Old’ has nothing to do with Age, more to do with knowledge.

    3. @ Mico, We started with junk silver, just collecting it as we came across it. I worked with cash and the public so it was easy for me to pick up the occasional silver dime/quarter. We have a sizable stash of junk silver now. Then several years ago, I bought a few Canadian Maple Leafs. It was only 5 coins as I wanted to give them to the grandchildren as they got older to show them real money. Anyway, I started watching the spot price, at that time it was around $28 an ounce. When it bottomed out around $15-$16 an ounce, I purchased a larger amount.
      During that time between orders of coins, we would continue with our other prepper purchases. We just keep adding layers to our supplies. This month maybe food, next month might be medical supplies. If the price on silver drops to my satisfaction then we buy more.

    4. I started buying PM’s when I started buying all my other preps. A few ounces here and there along with a few bags of rice,beans ammo ect. I have never focused on just one part of building my storage. I never understood the folks that said get everything else in line first. I wouldn’t not buy food because I wanted to buy ammo,I would not buy ammo cause I wanted to store water. I also would not buy a lot of PM’s at one time either but each time silver dips to 15-16 dollars I pick up a few more ounces just as each time # 10 cans of things I want go on sale I buy some of them or grab another bag of rice when I am at Costco. Hope that helped with your question MICO

    5. Actually I always considered PMs a prep, so I was buying Gold, Silver and Copper as I prepped.
      But I’m still not comfortable with the amount of these preps I have. I want more!

    6. Sterling Silver is .925 from what I am told by my coin guy. The hard part is some “Sterling” is faked or plated over base metals and such. He is VERY careful with Sterling at his shop.

      So melting it down for coinage with warning about fumes and heavy metal poisoning would to be honest need to be 33.6 grams marked as Sterling AND 1 Oz troy silver. After all a Kuggerand is 1 troy Oz of .999 gold BUT weighs in heavier with hardening metals added for wear.

    7. I did my prepping backwards. I started with PM and moved on to other preps. I was finding silver coins in my change so I started coin roll hunting and built up a small horde that way. When I moved to a less productive coin roll hunting area, I started buying a little bit at a time. 90% coin, bullion ingots and rounds. What ever is a good deal. I also keep an eye out at thrift stores for Sterling jewelry that is discounted. As for my other preps, I have the basics for natural disaster. Anything other that a natural disaster in my area, my employer is going to call me into work and provide for my needs.

  13. I read the headline and thought it kind of funny, just yesterday my MIL gave us several pre 65 coins. some were even late 1800’s. A nice addition to the ones I already have.

  14. One thing I haven’t seen mentioned here is the definition of PMs, they’re commodities just like wheat, corn, or meat. Commodities change in value, sometimes drastically in relation to fiat money, but not greatly in relation to each other with the exception of temporary scarcity.

    If 2000 years ago a person could trade an ounce of silver for four chickens, you can go to the store today with it’s equivalent value of $17 and do the same.

    Due to their scarcity it was long ago societally agreed PMs had value, part of the reason for that agreement was their portability versus other trade goods. If you need cooking oil, but have an over abundance of chickens, you can haul your chickens around until you find someone who both has cooking oil AND needs chickens, or you can carry silver coins to the oil seller, who may need wheat, and trade your silver coins for oil. He in turn goes to a wheat seller, and pays in your silver coins. The wheat seller can then afford your chickens. Obviously all hypothetical, but those are the basics of commerce.

    As an aside, I had a conversation with a neighbor not long ago about PMs. He stated the standard argument “You can’t eat them.” The talk later turned to water in bad times. Knowing I have a Simple Pump on my well in addition to the submersible, he said “I can come here for water if I need to, can’t I?” To which I said “Sure, got any gold?”

    1. Ozarks Tom, thanks for the tutorial on how trade works. I was working on a similar comment. Physical precious metals, at the least, retain their value versa vi other goods. Here in the USA we have the advantage of the dollar being the benchmark currency. At one time there was a physical, government minted/printed, promise to pay accounting for every dollar in circulation. That’s no longer true. The majority of those promises to pay or no more than digital encryption on a silicon chip, with a digital record of who that IOU belongs to, and you ain’t in charge of protecting it. In other words, it can be stolen/erased/go ‘poof’ in an instant.
      Now most of us can’t operate outside this system due to our pensions, social security, etc is no longer available for dispersion outside this system. I keep enough in this system to pay my monthlies, my taxes, and trips to the store. I keep enough government issued IOU’s to cover three month’s worth of bills. I have some precious metals, but my wealth in a total meltdown is my ability to provide shelter, food, water, and security for my loved ones without a whole lot of outside assistance. Isn’t that the bottom line?

  15. My wealth is definitely in silver. My wife of 43 years keeps adding silver stands of hair every year, thus drastically increasing her value to me. She accepted my engagement proposal on Valentine’s Day 1975. What a blessing. Happy Valentine’s Day everyone!

    CD in Oklahoma

    1. CD That is soooo sweet! My DH wanted me to stop and let him get a V day card for me today and I told him, in our house every day is VDay!

  16. Here’s another way to look at the buying of Maple LeFs orcSilver Eagles. Both these coins are Government issued and montage is controlled. Both coins have a Government monetary value stamped on them. For the ML, it’s five Canadian dollars, for the ASE, it’s one US Dollar. Imagine if our governments decided to go back to a PM backed standard, they already have a baseline set on how much your gold or silver is worth! $5 & 1., for silver, Government issued Gold coins are denominated also. I think it’s $50.00 for the Gold 1 Ounce coin. Food for thought.

  17. Good discussion topic and lots of good thoughts being shared. We have a few gold coins as a hedge against the U S dollar and some silver rounds as well. We also have “junk silver coins to perhaps be used for trade or barter . We save junk silver because most people will soon figure out a value for a dime, quarter or 1/2 dollar in a SHTF scenario.
    We have many “extras” set aside for trade purposes . Things such as cookware, hand tools, nails, blankets, matches and more truly useful items. We would use lead as a barter item only for folks we knew and trusted. Bartering could be a very dicey situation, do it very carefully. You don’t want the person to return in the middle of the night for all the rest of what they think you have .

  18. Silver always has, and always will have value.
    In whatever SHTF event happens, and you do not have enough food, water, ammo, medicine– whatever– someone who does, will gladly take you pieces of silver in trade.
    Beware tho– they may want more pieces than you want to give!
    Plan accordingly.

  19. Yep, im sure they are, my concern is what happens when the feds decide to go all Ruby Ridge on them, sure, strength in numbers, but theres also danger in a crowd, especially a crowd that doesn’t go along with the federales, one broke ass homesteader like me doesnt draw much attention, but you can bet a couple dozen folks living off the grid and not needing the government for anything draws some satellite closeups and snooping, not pickin on ya bud, just sayin, have my concerns about too many like minded folks, just look how the folks in Waco and Ruby ridge and the Freemen were made out to be total outlaws,

  20. Please notice on the pic of the Canadian Maple Leaf above, it says “9999”.
    America alloys its silver to make it harder, making it less pure. There might not be much of a difference between “999” and “9999” but if I’m spending money for silver, I want as much of it as my money will buy.

    1. Mr. Grey,
      You are correct however if you bought what’s called a monster box of Maple Leaf coins (500) you would get only an extra 1/3rd ounce of silver for your trouble giving you an extra $5-6 bucks based on spot. Otherwise their both considered I ounce pure silver for commerce.

  21. I have purchased a some ASE’s, a roll of dimes and am currently working on a roll of half dollars. I take the recycle my wife throws in the city recycle and pull out the plastic bottles and the cans. I pay for my silver with the CRV money. Its slow going but doesn’t hurt the pocket book in these tight times.

  22. Does anyone know how precious metals are being used in Venezuela’s economy? That would provide some answers for when the currency collapses but the rule of law is still enforced. (IE You can’t just shoot someone to get what you want)

    1. Perhaps ask through Daisy over at organic prepper, she has been running pieces by someone who lives there,
      My guess is they are pretty much not being used, doesnt sound like it anyway

      1. Actually from my reading from various sources PM’s are indeed being used in Venezuela. Silver, wedding rings, necklaces because across the boarder they have real value. Same story was found in Argentina, Bosnia and Weimer Germany between WW1 and WW2.

        Point is as long as there is a somewhat “Normal” world OUTSIDE your Personal SHTF situation someone will figure out a way to get rich bringing in goods to trade for your PM’s.

        1. Well yea, but theres a difference between pawning your stuff because your broke and utilizing silver rounds for currency,,,,
          I assumed, perhaps wrongly that the question was about the use of silver or gold as currency. Trinkets i suppose could be considered currency but coinage is generally the accepted threshold

          1. Value is value. If someone can weigh your 14 carat necklace and give you some food in exchange its currency exchange. Goodness a persons hour of labor is an exchange FOR currency to spend somewhere isn’t it?

            So is it immoral to give a little food for a ring that in “Normal times” is worth say 100.00? What is the true value?

          2. Nailbanger & NH Michael
            I believe many have already said it, the Value of G&S (or anything else) is only what someone else will give you for your trinket.

  23. Newbie question. If I spent thousands in silver and then decide I want to cash it out. Where do I go to do that?

      1. Hi, I was referring to now. Wife was hesitant in case of some unknown problem and us needing to convert back to cash.

        1. My personal take on cash flow is keep 30 to 90 days Awe *hit cash on hand. Some at home rest in bank your choice of ratio. PM’s allow you in MOST cases to HOLD your Excess Wealth value in the face of inflation over a period of Years. Daily flux of prices is just normal AND paying a Premium to Buy TO pay a Premium to Sell for cash seems a bad idea.

          Do not buy PM’s before you have Awe *hit cash on hand as that personal SHTF situation is having to sell assets (Like Silver, Prepping Supplies etc.) to cover a such emergency like a blown transmission or job loss.

          BTW my wife has much the same thoughts as yours I suspect :-)

  24. Putting this here re: junk silver: I found a number of pieces of flatware that looked like silver to me. All of them turned out to be silver plate, but it was instructional and I figured someone might appreciate the information.

    1) If it has initials “IS,” “AA” or “A1” on the back it’s plate
    2) If it says “plate” on the back, it’s naturally plate
    3) If the pattern was made in the US after 1846 and doesn’t have STER or a number like 925 somewhere on it, it’s likely plate. The process for silver-plating was invented in 1846

    Can the silver be reclaimed, or should I just return them to the thrift store?

    1. Lauren. I have heard that using silverware with silver on it has health benefits. You may want to hold on to some of it to use. Prayers to you for the job you have, deciding what to keep.

  25. Lauren, Friend of mine was into identifying flatware (plate and sterling both) some years back. There’s a fairly robust market for replacements for missing pieces. Depending on what you have it might be worth cruising the web to find a bulk or individual buyer.

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