Guest Post: Surviving the Future with Gold – Is it Possible?

 by

Jeremiah Reda

 

Politics, wars and long-term joblessness can contribute to a society’s sense of unwell being and financial instability. But if you’re at this site, you already have an idea of that.

One way to survive the future, some media outlets suggest, is by using gold as a protection. If you’re worried about our short-term future, have cash on hand and the ability to protect it, then buying gold might be a good move for you.

Technically, physical gold is a liquid asset, which means you can get immediate return from stored gold if you decide to liquidate. However, you may face obstacles in this. A dealer may require you have bars refined to verify the purity. Or the gold might not sell as quickly as you think.  If you are shopping for gold to liquidate in an emergency, shop smart. Look primarily at coins guaranteed by the government such as what you find at the US Money Reserve. Other types do not sell quite as easily.

Physical gold in the form of bars or coins offers security that you can’t get elsewhere. The one downside to owning physical gold is storage. If the gold disappears, there is no recovery. So to ensure your survival against financial disarray, here are some tips to wisely store gold.

In the House

Many homeowners store valuables in safes. That goes for gold too. If you want to store gold (and jewelry or cash) inside your house, install a floor safe. Floor safes are usually mounted to the floor, and are virtually impossible to move. This prevents a thief from lifting the safe to a new location for lock picking. You can also get creative with a floor safe’s location, mounting it in a basement, or underneath a sink.

In the Bank

Some gold owners prefer to keep their gold in a bank safe-deposit box. As with the home safe, you can store other valuables in it with the gold. But the downside to using a safe-deposit box is getting fast access to your assets. You are restricted to banking hours to retrieve the gold. Some extremists feel lack of access defeats the entire purpose of storing gold for survival. In acts of war or financial chaos, how can you be sure you’ll even get access to your gold?

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In the Ground

Burying gold in the ground may sound far-fetched, but many people choose to do it to be near their asset. However, most experts suggest against it, citing dangers of losing the gold somehow in the process of burying it in and around your home. They recommend only three places to store gold – at home, in a bank’s safe deposit box or with a third-party storage firm.

In a Storage Facility

Storing gold with a third-party storage facility is becoming more of the norm rather than the exception. Some states require clients take delivery of their precious metals, while other states allow for another holder of the asset. Check with your gold dealer to learn more.

In Your Mind

Only you know you have gold.  It’s best to keep it that way. Don’t go spreading the word that you bought gold. That will only increase the risk of a robbery. If you must, tell only one other trusted person. This person is usually the one you choose to handle your assets if you die. Share details of location and value. Make sure the designated person can access the gold with safe-deposit key and code privileges.

It’s possible to survive a modern catastrophe if you have gold to keep you going with other post-event chaos. Physical gold from the US Money Reserve offers advantages when you are saving for the future. Storage takes some thought, but once it is safe, the security is worth the effort. Save smart and invest wisely by buying physical gold.


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9 Comments

  1. Depending on the condition of the future economy, precious metals, gems and jewelry, and minted or printed certificates of value (stocks, bonds, coins, reserve notes, and/or deeds) will probably continue to have sufficient intrinsic and identifiable worth as a medium of exchange. However, in a true SHTF melt down economy the only items with any recognizable value will be things you can eat, wear, or shoot. Medicines (including generic first aid supplies such as bandages and sutures) and building materials will remain valuable commodities, but only when the purchaser has sufficient material possessions to ensure he/she is fed, warm, and reasonably safe.

    Personally, I have a small stock of precious metals – mostly stuff I have taken in trade at gun shows for various items I picked up someplace and subsequently found a buyer with more “money” than sense. My favorite has to be pre-1960’s silver dimes. At least with dimes I know I can reload my 12 gauge shells with some really good anti personnel components – try a dozen dimes in a 2-3/4″ shell on a watermelon sometime, it’s impressive.

    If you really and truly have everything squared away – shelter, food, water, food production and storage, gear, clothing, tools, fuel, batteries, solar or wind power generation, ammo, guns, more ammo, first aid, barter (cheap vodka and cigarettes will probably be prime candidates), more ammo, cleaning supplies, paper goods, entertainment (poker anyone?), and a bunch of other really useful stuff you won’t realize you’ll need until the store shelves are empty – by all means put some cash in precious metals. If our future is as messed up as many preppers believe and you stop by my place for 10 or 15 pounds of recently butchered beef you will need something a lot more useful than a handful of gold coins.

  2. I would not rule out gold, or other precious metals, especially as inflation-hedges or short-term investments, if all your other preps are already in place.

    In a post-SHTF-situation, I have one scenario to think about (suggested to me by a coin-dealer friend who got out of Eastern Europe one step ahead of the Nazi occupation, when I asked about buying gold coins as preps.) :

    Your neighbor has a tire that will fit your truck, or a sack of ‘taters, or a loaf of bread that you would like to trade for. Imagine his response when you ask “Hey, Bob, do you have change for this Krugerrand?”

    If you have a kitchen-knife, a silver dime and a half-dozen .308 rounds with you when you trade, the item will cost some or all of those trade goods. If you have gold, it will cost you a K-Rand.

    Just food for thought. I am no expert.

  3. Wyzyrd,
    Well said. I suppose you could use the kitchen knife to shave off some of the gold – messy and difficult to ensure an equitable exchange rate.

  4. I heartily agree with Harry – a large part of the world DID get that-badly-messed-up in 1939 – not that long ago, and much of the world remains that messed-up today. It could happen here.

    If I manage to sell the company I mostly-run for a $billion to some rich guy, yeah, maybe, I’ll store some gold, but metals/coins (well, I might get a bunch of plain ol’ sheet-steel first, and maybe some silver dimes) are pretty low on the priority list, well below the proverbial beans, bullets and bandaids (and the booze and butts I don’t use, but happy to trade).

    If I am wrong, please feel free to laugh at me, if I starve to death first.

  5. I agree it is much lower in priority then getting your preps squared away after all you can’t eat the gold. If you get right down to it gold is nothing more than a shiny metal no more useful then lead. In a shortage people are not going to want to trade away supplies for something they cannot use.

  6. I would have to agree that if the SHTF and there was a banking system crashes then the thing that backs this worthless dollar would be not much more than a door stop. I am in agreement with most on here that realize that useful tools food and “necessities” would be worth more. I am new to prepping and try and do as much as I can with a VERY small budget and a creative mind. I do want to say I value the information greatly I read on this site to assist with those efforts. Keep up the discussions and tips for those of us who were not SpecOps people. Thanks for explaining it for the people like me to understand and protect my family.

  7. What’s that line about people who don’t remember history? FDR outlawed the private ownership of gold and that ban stayed in effect for 40 years. It was done to expand the money supply by buying up the confiscated gold at $20 per ounce and then valuing it at $35 per ounce.
    Without getting into all of the ramifications, private ownership of gold could be outlawed tomorrow and unless you are holding jewelry or hiding it in your house it would be gone. If you buy gold to hide, be sure there is no record of the transaction or it may still be gone. In a Mad Max scenario, precious metals may have some utility, but it would seem to me that silver would be much more useful, how do you get change for an ounce of gold in a barter society?

  8. DaWalrus,
    What, you mean Rourke lets folks on this site who haven’t humped a ruck through some some garden spot of the world and fragged a foreign national dirtbag for Mom and Apple Pie? For shame! OK, just kidding, call off the lawyers and politically correct stewards of decency.

    Everybody has a budget (well, maybe not Bill Gates) and everybody has a list of stuff they really believe they still need to acquire to get through whatever is over the horizon. The main thing is to prioritize. I use an ABC list. A is for the basic items required to sustain life – food, water, and shelter. B is for the items which I believe will be necessary to maintain more than a short term subsistence living – primarily, medical and self protection. C is for everthing else – if you can’t eat it, drink it, sleep in it, bandage with it, or shoot (stab, whatever) with it this is the category it belongs in. Once you are comfortable that you have addressed the A and B list to the best of your abilities, then take a look at what is on the C list.

    Now, I have to go convince the red headed spousal unit that I really do need to move the acquisition of a Dillon Aero M134 onto my B list (it can be an early birthday present).

  9. Gotta agree with Harry again, except I’d add “stuff to cook in and stuff to cook with (beyond basics)” to at least the B list (You mean you don’t have 3 smokers and 4 grills, just in case?? and 2 woks, extra kitchen knives and herbs and spices in your vehicle kit??).

    I have eaten MRE’s, blue-box mac and cheese cooked in a canteen cup and C-rations , and even surplus K-rats when I was a Boy Scout, back when dinosaurs walked the Earth. My opinion, and worth exactly what you paid for it, but, the better the food, the better the morale (to misqoute Bonaparte). If you, or your group members decide that they would rather put a gun barrel in their mouth than another can of “Ham and Lima Beans” (people my age will recognize the reference), overall group-survival-probability is lowered.

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