I got an email from a reader asking about the best way to use Silver in the case of an economic collapse. That reader also asked about alternative ways of making economic transactions in that situation.
The reality is that nobody really knows what will happen if the economy collapses. Plenty of folks have speculated. Quite a few have made assertions and assumptions.
But nobody knows for sure.
The best thing we can do is look at historical collapses and go from there.
History tells us that gold and silver are good barter items in general. Hundreds and thousands of years of history show that.
Yet what form? Junk silver? Bars? Rounds? Jewelry? Chains?
Nobody knows for sure. Someone you’re trading with may not know what junk silver is. In that case, bars might come in handy. On the flip side, we have first hand reports out of Argentina that folks would often simply cut links off of gold chains for barter.
Aside from metals though, having food is important, but more importantly having some of those ‘sin goods’ such as tobacco, alcohol, and the like.
Bottom line, don’t put your confidence in one thing. Have a variety of metals, in a variety of forms. Have other barter items on hand. Plan for extras! Have food, maybe some seed packets.
At the end of the day, having variety will provide you with options if that day comes.