The gold and silver debate!

     There is a lot of debate about investing in gold and silver for preppers to stockpile for any SHTF event or economic collapse, I can’t tell you how many times I hear “you can’t eat gold.” While this might be true in the literal sense, you can turn gold and silver into food and other supplies. Some people say you should and others say you shouldn't. I have found that either way there are so importing things you should know.    

      There are numerous ways to “invest” in gold and silver without actually ever seeing or holding the physical product. For example, some companies allow you to buy gold and silver that they then hold for you in their own vaults. Others allow you to trade Gold Exchange Traded Funds or ETFs, which is similar to investing in gold and silver as if they were stocks. This is called owning “paper gold” – you essentially hold a receipt, the idea being that a company or bank has gold in their vaults that corresponds with the receipts they’ve issued.

        These are broth very risky. The problem with this is you have little way of knowing if the other party actually has the gold they claim to have. They could also be shut down or put out of business, in which case you may have no way of getting the gold your receipt represented. In a SHTF situation, unscrupulous executives could even run off with their client’s gold, leaving them with nothing but worthless paper and broken promises. Basically, if you don’t buy and have the real thing in your physical possession, there is no way of knowing if it truly exists. Cautious preppers will warn that you should assume it doesn’t.

The best way to buy and physically hold your gold and silver in locations you control. Any other arrangement simply makes it too easy to be defrauded, or for unforeseen circumstances to wipe out your precious metals before you ever see them. Whether you hold them in vaults in multiple countries, in your pocket, or buried in a shoebox in the woods, the adage is, you don’t have it unless you can hold it.

        Pawn shops: Sometimes pawnshops get a bad rap, and sometimes it’s for good reason, if you find a reputable pawn shop you could take advantage of others misfortunes. Make sure you know their return policy and take your purchase and have it checked by a local jeweler, Junk gold and silver in jewelry can look real but is just gold plated. Local jewelers might also be able to point you in the right direction when purchasing gold and silver as well, just make sure and do your research before making any large purchases.

       With all the scam’s and unscrupulous brokers out there these days it can be pretty intimidating trying to figure out where to get precious metals. Find someone  that will help you make smart purchases and not throw away your hard earned money. Do you homework!!!

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