If you are considering acquiring gold to guard against a worst-case survival scenario, you are not alone.
Many investors use gold as a way to hedge against the problem of bank collapse after a catastrophic event. Throughout human history, the value of silver and gold has transcended the ever-changing tides of civilizations, governments and financial systems.
Even if you think the probability of society-shaking events is low, the extra peace of mind that precious metals offer is quite valuable.
Here are a few tips:
GOLD IS A RECOGNIZED CURRENCY
When buying gold for survival purposes, gold coinage has proved to be the most convenient method. Not only are you buying gold for its weighted value but coins are recognizable and redeemable for goods and services. Popular coins include small fractional gold coins or bars, or the American Eagle coin.
CHOOSE A SMALLER SIZE FOR CONVENIENCE
Smaller sizes allow you to be the banker. Remember the banker is the person making change, while the bankee is the person looking for change. And as history has showed us: the banker always wins.
PRESERVE YOUR PURCHASING POWER, EVEN IF THE DOLLAR FAILS
Over the years, gold has always helped investors maintain their assets even as paper assets diminish or collapse completely. Think of people carrying wheelbarrows of money to buy bread during times of financial catastrophe. Gold can protect your family when you need it most.