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Old 06-22-2010, 11:42 AM
caseman caseman is offline
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Default How much should one have on hand?



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I am just getting my feet wet with the survivalist mentality. I am thinking I would like to buy some junk silver coins and or gold coins to protect myself in case our currency takes a dump. I assume the silver coins would be of value for bartering/purchasing items.

The question I am grappling with is how much junk silver should one buy? What is a reasonalbe amount of silver coins one should posess? I have funds to make a resonably large purchase, but because this is so new to me, it seems odd to have hundreds or thousands of dollars of silver and or gold coins sitting around in a box just waiting for an impending doom.

Any advice or input is appreciated.
Old 06-22-2010, 11:51 AM
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well i dont know how much $$$$ your talking about but i would get 1-5 years worth of food 1st you can always use food (dont buy MRE's buy /store what you eat now) food is like money in the bank. then get 2-6 weapons and 1000-5000 rounds for each weapon. then i would get 1 years worth of bill money in gold/silver.(mainly silver its eaiser to spend)

of corse this is if i had plenty of money to spend
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Old 06-22-2010, 12:04 PM
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Crypt is right. It kinda depends on what you think will happen. For major problems I would stick with what he said. But I feel that things might just go SHTF so I prepared for that years and years ago and keep rotating. But what if things dont go totally crazy. Well then Pms could come out to help pay for things in a hyper inflation situation. Like taxes on your property. Or for getting things when normal cash (fiat) is worth nothing. You have to figure out what you need. For everyone things will be differnt except for food,water heat and protection.
Old 06-23-2010, 05:55 AM
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Like they said, food,defense,water storage,etc first, then silver. having 100k in silver wont do you much good with one can of beans to eat for a year.
Old 06-23-2010, 05:56 AM
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And please be quick friend.
Old 06-23-2010, 06:13 AM
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thats good stuff
that is what i have done.





Quote:
Originally Posted by Cryptkeeper View Post
well i dont know how much $$$$ your talking about but i would get 1-5 years worth of food 1st you can always use food (dont buy MRE's buy /store what you eat now) food is like money in the bank. then get 2-6 weapons and 1000-5000 rounds for each weapon. then i would get 1 years worth of bill money in gold/silver.(mainly silver its eaiser to spend)

of corse this is if i had plenty of money to spend
Old 06-23-2010, 06:24 AM
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So, assuming one is all set with extra food, water, etc, etc., how much silver do you guys keep on hand? How much currency will we need to get by in some sort of tough times? Does one only need $200 of junk silver? $1000 of bullion? $1000 of silver, gold and cash? more?

I'm just trying to get my hands around a reasonable number. I don't want to save $500 worth of silver to only find out that most preppers have $5,000 in currency.
Old 06-23-2010, 06:49 AM
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I don't think there is any amount that "most" preppers have. I'd be willing to bet that most preppers have little or no precious metals and little or no cash on hand. In addition, having a year's worth of gold or silver might not be very much if a person is living on welfare, but could be quite a lot if the person had a big corporate job or owned a business. A year's worth could be a few thousand for a poor person or millions for a rich person. In either case, I wouldn't keep a lot of cash or PM's in your house where it is subject to theft.
Old 06-23-2010, 06:55 AM
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Quote:
Originally Posted by caseman View Post
So, assuming one is all set with extra food, water, etc, etc., how much silver do you guys keep on hand? How much currency will we need to get by in some sort of tough times? Does one only need $200 of junk silver? $1000 of bullion? $1000 of silver, gold and cash? more?

I'm just trying to get my hands around a reasonable number. I don't want to save $500 worth of silver to only find out that most preppers have $5,000 in currency.
we store it for wealth protection(so how much do you have to protect?)

the idea for me at least is to not need money ever again, so i keep very few pm's and invest in solar power,fixing up the house,etc.
Old 06-23-2010, 09:42 AM
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IMO, you should focus your preps in following order:
1. Food/water
2. Shelter
3. Protection/security
4. Medicine and other supplies
5. Cash on hand
6. PMs

Notice, in my list cash comes before PMs. That's because it is more likely to be accepted in most SHTF scenarios than PMs or coins. Most people can't tell the value of gold/silver coins but they can always tell the value of cash, and there will always be someone willing to take it.
Old 06-23-2010, 10:10 AM
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There is a bubble in the PM's, just like the housing bubble we had a couple of years ago. If you don't mind seeing the value of your silver going down for some extended period of time then go for it. Otherwise, I would pass.

I just want everyone to understand that there is no sure way to preserve wealth anymore in todays world. Not yet. However, things like toilet paper, work boots and soap will always be in demand no matter what the law says you can or can't have or sell/buy.
Old 06-23-2010, 01:16 PM
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Quote:
Originally Posted by caseman View Post
So, assuming one is all set with extra food, water, etc, etc., how much silver do you guys keep on hand? How much currency will we need to get by in some sort of tough times? Does one only need $200 of junk silver? $1000 of bullion? $1000 of silver, gold and cash? more?

I'm just trying to get my hands around a reasonable number. I don't want to save $500 worth of silver to only find out that most preppers have $5,000 in currency.


can you pay all your bills with $500 worth of silver? its all pending on what kind of bills you got. if money is no object then you should not have any bill accept for things like taxes, water and electric bill. if that is the case then $1000 in gold and $5000 in silver would probably do you nicely

BUT if you got bills to pay and cant pay them off anytime soon then i would try and get 1-2 years worth of payments on the main bills you need (like your house, car,water,electric and taxes ) so if your main bills add up to $1000 per month then you need $12000 in silver
Old 06-23-2010, 01:59 PM
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I keep $500 face value of junk silver plus some silver bullion if that helps
Old 06-23-2010, 02:05 PM
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I appreciate all the replies....it helps a rookie like me think things through with a new perspective. If anyone else has something to add, I appreciate the repsonses....thanks.
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