Sunday, October 4, 2009

Our pending finaicial collapse's Silver lining...

I decided it was time to post something positive for a change. It seems to me that I have become the harbinger of doom on this blog. Well, that's all good and well, since America needs a LOUD wake up call, and although I am not saying my humble blog will serve that purpose, I do feel that instead of just complaining, I should give a little back. So, America, here it is...

If America does indeed face a financial meltdown, what will be the currency of the aftermath? Well, since the beginning of recorded history, precious metals have been the currency of choice. It seems to follow that if our printed money becomes worthless, a person with an amount of precious metals might be able to better barter for what they need in life.

Where can one get precious metals? Well, Apmex makes it easy. Here are a few investments you might consider and the pros and cons for each:

Gold- Gold is currently running around $1000 an ounce, and even though Apmex offers 1/2, 1/4 and 1/10th ounce rounds, gold might be a little too much to use for regular barter. If you can afford it, keep some on hand to make capital purchases such as farm equipment, vehicles, land and firearms, but it is probably a little too much for your everyday prepper.

Silver- Available in pure silver and junk silver, this may be your best bet for investment. 1 oz. Silver American Eagle coins can be had for less than $20 each typically. Silver is around $16 an ounce on the open market, and is sure to climb in value after a crash. Silver rounds would be excellent currency in this case.

Junk silver refers to coinage that is less than 100% pure silver, such as US dollar coins, half dollars, quarters, dimes and nickles made prior to 1935. For instance, Morgan dollars produced between 1878 and 1904 are 90% silver. To use them for currency, agree on a price per ounce for silver, weigh your coins and take 90% of that amount to get a correct price. Morgans can be had for around $15 each currently. Barber and Mercury dimes are also popular and are available in rolls of 50 for less than $100.

The Apmex site is an excellent reference and learning tool and offers both US and foreign silver, gold, platinum and palladium coins, ingots and collectors items.

Get it now, don't wait. Gold and silver may become our only source of portable wealth if we face a financial collapse in the coming years.

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