is silver for preserving wealth?

im still a newbie and am getting conflicting opinions, some say that silver is an investment/ bartering tool and that gold is a wealth preserver but some say yes it can preserve wealth. being a newbie and only holding silver but looking to preserve what ive worked hard to obtain im now confused.

 

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well if they had bought in at 4-8 then their wealth is being preserved just fine, im into it at current market values. ive said it before, im not in it for an "investment" if it goes up then i just consider it gravey. my main concern is to preserve what i have and to remain retired. i have a substantial balance in the bank that im considering getting into something because of all the chatter going around about bank failures/economic collaps/dollar collaps.

 

Like any other investment, it's a risk. It is possible that it could preserve your wealth, and it could also drain it.

 

ive got guns covered, my screen name is a typo, it was supposed to be 97guns

 

I guess that means that you are 88 guns short. :goofer:

 

there or abouts, i think ive exceeded the century mark.

but to get back on topic, i guess there is no right or wrong answer nor right or wrong advice - only time will tell if the answer/advice given was correct or not. im just curious as to why some guys would advise against silver as a preserver, i like to disect things like that.

 

I guess it just depends on why you are buying silver. For people are are prepping for SHTF, silver might be seen more as a bartering tool than as a tool for preserving wealth. For people are just buying it a an inflation hedge, then they might just see it as another way to preserve wealth. Then you have people (such as myself) that are collectors that just like to collect certain types of silver and are not looking at it as a way to preserve wealth or as a bartering tool. There could be multiple answers. Some people might just only think about gold when you say inflation hedge or preserving wealth.

 

Apparently, there are people who think that silver might be used as a bartering tool in a SHTF scenario because they still buy silver as part of their SHTF prepping. If SHTF preppers did not think that silver would not be useful as a bartering tool, then they would not be buying silver (or gold). No one really knows what SHTF will be if SHTF happens.

I agree with you in the sense that food, water, shelter, clothes etc will be important but I think that true SHTF preppers already took care of those necessities well before they started buying gold and silver. I think that people who are prepping for SHTF think that silver (and gold) will become money once the dollar collapses and they are buying gold and silver to have for the "aftermath" of a SHTF situation.

Keep in mind that I am just guessing here because I am not a SHTF prepper.

 

Silver can preserve wealth. Silver can also increase in value because of its industrial applications. That is its advantage over gold. As stated above, all investments carry risk. Diversify to protect yourself. That's all you can do.

 

Preserve wealth under what conditions? And with what reliability?

You can lose money in silver if industrial demand drops. Holding silver through the 80s was a miserable experience.

Silver should do better than, say, bonds during an inflationary period.

Over one or more generations silver will probably preserve wealth better than cash under the mattress.

If you're looking to preserve wealth in the face of the most likely threats to it, buy long term care insurance.

 

I have a 1 oz silver bar that i bought because it was a art bar, like 5 dollars over spot because the design is cool. I also have some silver morgans and peaces worth melt, i dont think of it as an investment, i just think that its good incase something should happen with the market, or to me, i always have them to back on. Also, i dont cry if it drops because i have like only 8 oz's

 

In the event the U.S. dollar collapses your Silver and Gold will most certainly preserve your wealth.Also keep in mind Gold is real money.A Federal Reserve Note in your wallet is only a piece of paper that cost less than $.05 to produce.Gold and silver are rare metals unlike paper and is recognized around the world.I see no problem with exchanging some of your paper notes for some real money.


Hope this helps.

 

Have you ever or do you now currently own PM's GDJMSP? Just wondering what the point of hating on PM's on a PM forum?

 

The precious metals have fundamentals. Supply/demand and the cost of production are probably the most important.

That said, silver will preserve wealth if we have hyperinflation, which is a low probabality event in my opinion. Other than that, I consider it a speculation, and a pretty good one below $20. There aren't many things you can still buy at the same price as 30 years ago. I consider it only a matter of time before the speculators take it up close to the old high.

Also, I disagree with your other statement that silver and gold have no use. Gold's primary uses are jewelry and as central bank reserves. Silver has many industrial uses because of its special properties and has no good substitute for some applications. Of course, if you are a survivalist, nothing you can't eat or shoot will have value.

 

Lest we forget about silver bullets... :eating: (JK, I'm just being facetious.)