Alternative modes of currency have been a topic among preppers for a long time.
This can come in the form of having extra cash on hand or even through bartering items and services.
But another way of hedging your financial bets is through owning precious metals, such as silver.
Precious metals have always been sought after and will most likely always be. For them not to be, the world would have to be in a pretty bad place.
The following are my thoughts on how much silver a prepper should own. I should start by saying that I am no means a financial advisor and I simply tell it as I see it.
Prepping with Silver
To start I do not believe in owning silver in the form of stocks or certificates because it completely defeats the purpose.
Owning silver is a means of protecting your money against, well, a lot of things. The whole point of owning precious metals isto have something valuable and tangible. A piece of paper saying you own so many ounces will not do much good when the SHTF.
If you are going to own silver it should be tangible silver that you have securely stowed away in a personal safe or a safety deposit box.
This way when the SHTF you can use it for buying goods, trading, or simply keeping as an investment.
Before Buying Silver
First things first. Do you have everything else taken care of in terms of water, food, shelter, medical supplies, tools, etc.?
If you do not, then you do not need to think about buying silver.
There is a saying, “you can’t eat gold,” or in this instance, “you can’t eat silver.”
Basic needs, supplies, and debt should be taken care of first before worrying about how much silver you should own.
How Much Silver Should a Prepper Have?
Once everything else is taken care of to some extent then you can start thinking about purchasing silver.
The amount you should have is dependent on you and your budget.
Do not fall into the fear of buying silver because you heard someone say you need “X” number of ounces. Purchase responsibility and slowly.
Here is a way of getting into silver without it breaking the bank.
Start by figuring how much of your budget you can allocate to buying silver once a month or whatever your timeframe is.
Then start buying small amounts, say one or two ounces a month, and build your stockpile form there.
Consistency is the hallmark of successful prepping.
Buying two ounces a month will give you 24 ounces of silver at the end of a year. By the second year, you will have 48 ounces. And so on and so on.
In my opinion, this is the best way to buy silver. The average person cannot drop thousands of dollars at once towards buying silver, nor is that necessarily a great idea unless you can afford it without question. Remember prepping is all about being well-rounded.
I have met individuals who own thousands upon thousands of ounces of silver, and they plan to keep buying. On the other hand, I have met others who own much smaller amounts like 20, 40, or 100 ounces and have no intention of growing that supply.
Wrapping It Up
For me to sit here and tell you that you must own 100 or 1,000 ounces of silver would be inappropriate in my eyes.
You should own as little or as much silver that works for you and your plan but I think a few hundred dollars invested in silver would be a good goal to shoot for.
By setting up a budget and a timeframe you will be surprised at how much silver you can put away in a rather short period.
Thanks for reading and stay prepared!