Register for Free
Post comments, receive updates via email, gain access to exclusive content, and more.
Spam Safe!
How much gold and silver do I need?
I understand the need for holding some gold and silver as a store of value in case of a currency collapse. I also understand the need to hold some gold and silver bullion coins in divisible and spendable form to purchase items during the time period from the collapse of the old currency until the establishment of a new currency. This latter need is my focus here. Examples of such coins would be junk silver and divisible ounzes of gold American eagles. I am not sure what quantity of coins one should have on hand. I suppose it depends upon one's assessment of how much delay (who knows?) there will be until the establishment of the replacement currency as well as one's own personal preference. I believe one should have at least three months of food and necessities on hand in case of economic collapse or other emergency. But how much gold & silver? Any thoughts, ideas or suggestions?
Print
Email
The thing that keeps me from buying silver is the sheer weight of it. I've looked at Tulving and like their prices, but how much does it cost to ship 60-90 pounds of silver? And storage becomes another issue entirely as well. Gold, though it may be overvalued relative to silver, is much easier/cheaper to ship and store. These concerns have paralyzed me for several months now, as I consider another PM purchase....
The notion I operate with is that bags of 90% silver coins (pre '65) will probably be the most useful after tshtf. They are recognizable by everyone, small denominations and I suspect values will be attached to them rather quickly after a fiat collapse. Maybe a quarter for a 6 pack. 
Also, some 1oz coins, silver and gold, as Johnny suggested. As far as how much, any amount would be speculative. We have no idea how much pm's will be worth in that environment. Whatever you feel comfortable having within easy reach.
Doug
Thanks for all your comments. I am inclined to secure more junk silver, some silver rounds and some fractional gold American eagles.
This is my opinion. You ONLY want physical gold and silver, no paper promises.
Try to buy it in 1 troy ounce denomonations with a .999 purity.
IMO silver will yield a higher return because the gold/silver ratio traditionally has been 1:15 so with gold around $1100 an ounce now silver should be $73 an ounce but right now it is about $17.30. Also 1 oz. of silver will be easier to trade in day to day trading and buying then trying to get change for 1 oz. of gold.
Stocking up for a few months of emergency is fine but just remember if you have a 3 months supply what do you do on the 4th month?
Once this fiat currency collapses it will take at the very least a generation before people will trust any new fiat again. I would count on using gold and silver over any fiat for a very long time to come.
How much? As much as you can and in my opinion buy it at any price and keep buying it. Its a finite resource and once its been bought up the price will go to the stratosphere.
"Even if we are occupied with important things and even if we attain honor or fall into misfortune, still let us remember how good it once was here, when we were all together, united by a good and kind feeling which made us perhaps better than we are." - Fyodor Dostovevsky