Silver is usually referred to as the poor man’s gold. However, it’s become something that helps produce many goods these days. In the past, it was mostly used as a form of currency.
Precious metals, like silver, are still one of the best security against the potential collapse of an economy or inflation.
With that said, as a prepper, you need to be clear on how much silver you need to have access to. There several different strategies you can use to stack silver.
Although to do so, you’ll need to figure out how you can use silver in different situations. There are different kinds of silver. Some are less liquid than others.
If you’re going to buy silver, get tangible ones that you can securely store in a safety deposit box or personal safe.
The amount of silver you need to have as a prepper largely depends on what kind of budget you have to work with.
Don’t be afraid to buy silver because some ‘expert’ told you you need a certain number of ounces to start. All you need to do is buy slowly and responsibly.
You can acquire silver without necessarily breaking the bank to know how much money you have allocated to purchasing silver, plain and simple.
Once you’ve come up with a budget, start buying small amounts, like maybe two or three ounces every month, and then start building the stockpile from there.
Consistency is the backbone of successful prepping. Purchasing around two-ounces of silver every month will give you twenty-four ounces-once the year ends.
If you continue like this the following year, you’ll have forty-eight ounces when that year ends, and so on. The average person doesn’t have the money to buy vast amounts of silver at once.
However, that’s not necessarily such a good idea unless you can get it all without question. Keep in mind, prepping is typically about being well-rounded.
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Why Invest In Silver?
Most preppers love having precious metals, and most prefer having silver rather than platinum and gold. That said, both silver and gold love bad economic times.
When times get hard, people tend to flock towards precious stones and metals. During uncertain economic times, people see these metals as safe-haven assets.
People who are prepping do it because they think times will be challenging at some point. It’s only natural that preppers see these stones as one part of their preps.
Gold and silver have intrinsic value. Yes, you can argue about their intrinsic worth; however, the main point we’re getting here is that the metal’s value is really within the precious metal itself.
For example, compare those metals with paper dollar bills. The paper has no value. It’s what the paper represents that’s valuable.
With precious metals and stones, the worth is in the metal itself. The comparison is similar with real estate and stocks.
You can also use silver to barter. In an SHTF scenario, the paper currency tends to become useless. People will eventually need something else to rely on as a value exchange, and what better than precious stones and metals.
Silver and gold have been used as currency for a very long time now.
The main reason why gold isn’t good for the barter trade is that it’s costly. It’s tough to barter a one-ounce gold coin. It’s hard to break that up. Compare that with “junk” silver, which is way better than that currency.
The Silver Preference
As much as silver is known by many to be the “poor man’s gold,” if you have a lot of it, you’re not poor, are you?
While silver and gold have a few apparent similarities, it’s held in high regard in the prepper community. There are a few reasons why.
Silver costs less
It’s both cheaper and easier to buy silver rather than gold. Why is this so? Because, for starters, it has a lower price. It means you can start stockpiling much faster, and you can increase it much easier as well over time.
Spending a bit of cash buying a couple of ounces of silver helps you get a sense of gratification faster than waiting and saving for months on end to buy just one ounce of gold.
Silver has many uses
We use silver in bearings, batteries, jewelry, and photography. Other uses include water purification, food hygiene, solar energy, and medical applications.
That is what makes silver so much more versatile than gold. It’s got more real-world applications.
Silver is easier to use
Gold is generally harder to barter with than silver; no question about that. It’s hard to divide gold as a currency. Trading with one ounce of gold can be very frustrating.
However, one ounce of gold can get you many ounces of silver.
How To Buy Silver
This part is going what kind of silver is available to you. You can buy silver from a retailer online or a local coin dealer. But, those aren’t the only avenues available to you.
Another way you can get silver is by buying up mining company stock. However, they don’t give you the silver directly.
#1 Buying Silver “Stuff”
Once you start looking for silver, you’ll begin to see it all over the place. You probably have a few silver metals in your possession already, for example, that silver chain or bracelet in your jewelry box.
Silver is also used quite a lot in high-end serving dishes, silverware, etc. These items hold the same value silver does.
They might not have collector-level value; however, it’ll always be worth its “melt-value,” that is, the silver content value once you melt the item down.
#2 Junk Silver
Most preppers believe that the best silver is junk silver. Junk silver is old silver coins manufactured using varying amounts of silver. Why they’re called junk is because most of them don’t have any collector value.
The coin’s value is in the precious metal itself. Not only do most folks know what they are worth, but they’re plentiful as well.
You can buy silver coins from online retailers or local coin dealers.
Generally speaking, if you get or have a coin manufactured before 1965, there’s a high chance it’s got silver in it. Some casinos sell silver coins as well.
#3 Silver Eagles
Most preppers know what silver eagles are. The U.S Mint manufactures them, and they’re magnificent coins. These coins have premium price-tags. Why will you pay a premium for this coin? For starters, they have astounding detail.
This incredible detail makes it more attractive and makes it a lot harder to counterfeit or fake, giving you better odds of acquiring the real deal and enhancing buyer confidence when it comes time to sell.
These items have a silver value and can be used as a 1-dollar silver coin.
#4 Silver Rounds
Silver rounds are basically like silver coins. However, the U.S Mint doesn’t forge them. They’ve got no value besides the silver that’s inside of them.
These usually come in a wide array of different variations. Silver eagles, bars, and rounds are all ideal for the prepper.
#5 Silver Bars
Just like silver rounds, silver bars are another great way of getting your hands on some silver. They come as a small, single gram that can go up to as much as 100-ounces or more.
Silver bars have the silver percentage and weight stamped on them. They typically have the same size, making them easy to handle and store.
They’re recognized and accepted worldwide, making them a great form of currency. A prevalent one comes from Canada and is called Royal Canadian Mint Bars.
An actual government mint makes them, and they have serial numbers stamped on them.
Out of all the options we’ve highlighted above, the ones that preppers should strongly consider are silver eagles and junk silver. These are by far the best for preppers. For starters, junk silver is both cheaper and easier to source.
Furthermore, it’s also perfect for bartering purposes. Silver eagles are a bit more expensive, but they’re highly sought after, which helps make them very valuable.
Wrapping Up
As a prepper, when thinking about how much silver you need to stockpile, you need to also think about how scenarios and in what ways you’ll use this silver you’re looking to acquire.
Once you’ve figured both these things out, come up with an effective silver-stacking strategy.
As you’ve seen, there some many kinds of silver available to you. You just need to know what to look for and how to get it. Hopefully, this article has given you an idea of how much silver a prepper should have.
If you’ve reached this point, and you’re a prepper, you should know what you need to do to get your stockpiling started. Now, get started and get that silver!
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