While having an emergency
fund is essential, it’s even better if you can create a diversified one that
will also provide a hedge against inflation. While the purchase of gold coins
or bullion is probably beyond the reach of the average prepper, silver coins
offer a unique and affordable alternative to add to your emergency fund.
Silver coins can sometimes
be found in everyday change or rolls of coins obtained from a bank. All it takes is a watchful eye to spot coins
with a high silver content. Silver coins also make an affordable and excellent
investment to guard against inflation and can be purchased in amounts that are
affordable without destroying the family budget. Silver coins offer a very
reasonable option for increasing your emergency funds in an efficient manner.
A little research on the
internet can also let you know which silver coins can be easily found and added
to your emergency fund. You can also use a resource like JM Bullion which specializes in affordable options for
purchasing junk silver.
Got silver coins?
Staying above the water
line!
Riverwalker
Posts
3 comments:
I remember the Hunt Brothers during the 1980's cause a spike in price of silver. Something like 400% swing in price in a month as I recall. People were digging out their silver and selling it at a profit - the lucky ones did well. The buyers - not so much.
But at least it retains SOME value. Our dollar is not - it buys less and less and with the interest rates bank charge, you are losing money when inflation eats it up. Tangibles - its worth consideration.
Thank you Riverwalker.
Got silver? Possibly. It is possible that I decided last year to convert some medium term savings into silver coins.
Then again....maybe I didn't - OPSEC you know.
I think the important part of purchasing silver is to make sure it fits into the long term plan of preparedness; not a mad dash that keeps food off the table.
I have found that a local Gold Silver Exchange is another place to purchase; the trick is to make steady, recurring purchases so you become known to them. And pay in Cash :)
I generally use the junk silver route...doesn't ruin my budget but still more value than paper if things go bad.
RW
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