Silver is the poor man’s gold. This notion goes back to the “Cross of Gold” speech of Presidential candidate William Jennings Bryan in 1896. If an individual believes that a 1923 German type of inflation is in the cards, then he or she will purchase silver. Silver is more affordable at around $18 per troy ounce as opposed to gold being over $1100 per troy ounce.
Silver can be used in a time of economic collapse to buy groceries or fill up a car with gasoline. This is the case because it is of lesser value and an old Roosevelt dime might purchase food or fill the car. On the other hand, gold is too valuable and the only solution would be to break off links of gold from a necklace for the same purchases.
Invest in Bulk Silver
Bulk silver is a generic term that refers to many silver items. Bulk silver can come in the form of old silver coins known as “junk silver.” These are pre-1965 American coins that still have silver content. The coins will have either 90% or less silver content depending upon the year. One type of coin is the “Walking Liberty” quarter. These can be purchased in bags of coins of various sizes, depending upon what the buyer can afford. Many people have silver dollars in their possession. If this is the case, this is a good way to start the process of investing in silver.
Silver bars are also available. They even come in convenient sizes of less than an ounce. Any person who collected coins when they were young should check the home for this silver. The silver is never 100% pure. Pure silver would be too soft to be used as coins and other products.
Investing in Silver as an Inflation Hedge
People often invest in silver as a hedge against inflation. Silver will not go down as much as a fiat currency can. Their value is in the fact that silver will always be worth something. If times get better and the silver does not go up in price to a great extent, the silver can then be sold.