2016 was a nightmare. So, let’s talk doomsday prepping. To many, those who purchase physical gold and silver are tinfoil hat wearing crazies. Personally, this is a little offensive to me because I would never waste perfectly good tinfoil for an unfortunate fashion statement.
Obviously, I understand the implication of paranoia, but I happen to believe it’s unwarranted. I think it’s crazy to have lived on this earth for as long as many of us have and not have noticed the need for prepping- whether it be bullion or bulk soup.
This brings me to what I want to discuss this week. For those of you who would consider yourself a “prepper,” (for an economic collapse or apocalyptic type event), how do you prep? Do you stack silver coins for future trade? Do you have a log cabin in the middle of the woods filled with MREs?
I’m curious because I hear the argument, “gold and silver won’t feed your family if disaster happens.” I don’t like the logic there; no prepper intends to feed their family with bullion- that would be crazy. I do think, however, if you look at history, bullion has always been valuable to civilizations- even in times of economic hardship. To think gold and silver will suddenly lose value is, to me, the crazier of the two thoughts. Assuming the only valuable commodities for trade are food, water, or ammo would contradict what we’ve seen throughout history.
What is your response to those who think your stacking is a sign of mental instability? Have you confronted this issue before? Perhaps you can pacify their concerns by adding a few cans of beans and packs of water to your stash so they know you have your bases covered.
Since so many insist ammo is king over bullion when it comes to prepping, I suggest you pick up a few 10 oz Silver Bullets to combat the werewolves, zombies, or intruders looking to steal your stash. (note: I wouldn’t recommend actually attempting to use these beauties as bullets).
I hope everyone has a safe and enjoyable New Year! And, don’t forget; you still have a few more days to enter to win some silver!
Happy stacking!
-J
J.H. says
Prepping should not be viewed as “Doomsday” as the focal point, but as a normal practice in one’s adult life. It seems to me we are starting for forget that the global monetary system and with it the global economy where swirling down the toilet bowl in 2008-2009. Yet we absolutely MUST continue to remember that the governments and the central bankers of the world shut off the water and closed the drain valves to prevent a systemic failure of all we know. It was not an honest crash because we don’t have an honest system. The good, bad and ugly of that is perhaps a discussion for another day. The point is that we don’t know for certain what the next large correction, event or “crash” will look like, and we don’t know if Uncle Government and Auntie Central Bank will save us – or if they can save us. In other words, in my view, there is likely no cavalry coming next time. You are the cavalry. So prepare accordingly. Many believe that there won’t be a “crash” of the system. That they will always have gasoline, food, Wal Mart, water, electricity etc. Is it possible we won’t for a time if an event takes place? I say yes, it is possible. So don’t be caught holding the short straw. PMs are insurance. Silver is CHEAP insurance.
ProvidentMetals.com says
I agree. I use the term “doomsday prepping” as tongue in cheek because I also believe investing and preparing for the future isn’t crazy- it’s the only sane thing to do.
-J
Eric says
When I went to read this on Friday at happy hour and saw that you hadn’t posted anything I thought, okay she’s on holiday, good for her. Yesterday I saw this post and thought it’s a good thing I didn’t see this at happy hour because it sounds like there’s a bee in your bonnet! I thought the rest of the day on if and how I should respond and today I decided to, so here goes.
I’ve never thought of myself as a prepper, doomsdayer, or naysayer. The only thing I’ve ever thought of myself is I’m an investor, saver, and a realist. But you got me thinking and I came to the conclusion that I’m in fact prepping… for the future. To provide a future for my children, so they don’t have to live the life that I did. I’m in fact a doomsdayer… I’m preparing for the ultimate doomsday scenario… my own demise (hopefully, a long time in the future). I have no intention of being a burden on my family when that time comes therefore, I invest and save because the realist in me knows that the future is coming, whether you’re prepared for it or not.
The biggest single investment I have is my home, like most people who have one. My investments in the stock market exceed the value of my home, but that was done over decades of discipline and investing. I view my investments in precious metals as nothing more than putting together a balanced and diversified portfolio to be best prepared for whatever the future holds for all us financially. You said it yourself, that most financial experts agree that a balanced portfolio should contain 5-15% precious metals. That has been reiterated by the talking heads on CNBC and FOX all year long and none of them were wearing tin foil lamp shades on their heads. I’ve always invested in precious metals. From the time of my first paper route in the 70’s when my dad told me you should save any silver coin you get that’s dated 1964 or before… they’re real silver. When I first told my wife that I wanted to invest in bullion she raised her eyebrows and said really. I said you don’t have a single piece of jewelry that I don’t view as an investment and it’s basically the pure metal without the jewels… sold. I hope that at some point in my life I’ll have the means to invest in investment grade art, whisky, and cigars.
I don’t believe in an apocalypse, a total collapse of our financial system, or the end of our way of life as we know it. I only believe in the future… and it’s coming, whether you’re prepared for it or not.
I hope that no one reading this is buying precious metals before making their house payment, paying the health care costs for their family, maxing out their 401k or IRA, and saving enough cash to cover those costs in case any unforeseen emergency may happen. But, if you’re doing all that I don’t consider you a loon by investing in precious metals. I’ll think you’re a little off if you build or lease a huge oil tank or grain silo because you think those commodities have more wealth preservation or upside profit potential than precious metals!
I’m sorry to hear that 2016 was a nightmare for you. It was one of the best for me and 2017 looks even better. I truly wish the best in 2017 for you and yours, as well as for everyone who reads this. I do hope that your 2017 posts can be more upbeat and humorous, and not so thought provoking as this one.
Back to doomsday prepping… my son will become an Eagle Scout this year, I prefer to go by the motto of the Boy Scouts of America… “Be Prepared.”
Best,
Eric
ProvidentMetals.com says
Thank you for your thoughtful response, Eric! I apologize it seems my tone didn’t communicate the message I intended; I whole heartedly agree with you. I do not at all consider buying bullion the act of a “loon.” I believe it is wise. I have encountered many people who attach the moniker, “doomsday prepper,” or suggest you’re wearing a tinfoil hat because you are preparing for the future with bullion. This blog was meant to be a response to that line of logic to say, “it’s not paranoia that leads me to invest; it’s prudence.”
Diversification is key, and I think precious metals are a great way to diversify!
I hope your New Year was wonderful!
-J
Kurtsbestfriend says
Dear Eric,
Please talk to my husband about jewelry, i.e. …a viable investment.
Thank you 😉
Eric says
Jewelry is an investment, but you definitely need to educate yourself. If you don’t you’ll get taken every time. Not only do you need to know the precious metal, but the stone as well.
Good luck!
Eric
Steve says
I think Provident metals should come out with a new design with there 5 to 10 ounce bars The slogan goes .. We know the True Meaning of Wealth..999 Silver!!! We are The 1 percent..
ProvidentMetals.com says
I love it!
-J
Steve says
How can silver mining remain in business with the current prices?? for those who know silver should be well over $1000 an ounce gold nine 9000 10,000 easy .. The current silver manipulation is this a way to force the mining companies out of business what I understand should cost about $21 to 22 to pull Silver out of the ground ..
MintErrors.org says
I personally don’t understand the current ration of gold to silver. The ratio always seems close to 70:1. If something should occur to cause precious metals to skyrocket, I don’t see how this fixed ratio will maintain.
In my opinion, I think silver shouldn’t be thwarted by the price of gold. Gold is costly and to me, offers a higher risk of loss. pick a month and watch the roller coaster of Gold pricing. Currently silver is more balanced and less of a risk due to the lower pricing. To me that offers better stability. So, silver copy-catting the ups and downs of gold make no logical sense. Its an independent precious metal and should be treated as such. I am not saying that silver should be x2, x3 or x4 of current prices, But the market should be less reluctant to stay within the 70:1 boundaries that gold and silver seem to share.
ProvidentMetals.com says
I completely agree. The ratio baffles me. Silver is much more industrial than gold, yet we value gold to an outrageous extent. I’d love silver to make a price jump. Prices being based on perceived value should elevate the price of silver, but I guess people don’t understand how much utility it holds.
-J