Since this is my first “Precious Metals Prices” article on this site I thought I’d take a moment and introduce why I’m including this type of information on Suburban Prepping.
Prepping isn’t just about reducing your carbon footprint or even making a smaller impact on the world around you. One of the core pillars of Prepping is becoming less reliant on external systems (we’ll talk about “external systems” in more detail in a future article). One of the biggest systems that’s beyond the control of the average person is the Monetary System. The Federal Reserve Bank, and to a lesser extent, the U.S. Government control the value of the U.S. Dollar.
For example, back in 1964 Quarters (US$0.25 pieces) were made with 90% silver content. With that quarter you could buy a gallon of gasoline, a gallon of milk, or a loaf of bread.
Today, Quarters don’t have any silver content in them and they’re work US$0.25. However, that same 1964 Quarter is worth somewhere North of US$3.00 in silver content alone. In other words, using that same 1964 Quarter, you could buy a gallon of gasoline, a gallon of milk, or a loaf of bread. Silver has kept its value where the Dollar has lost value (or the other way around, depending on your perspective).
Now, I’m not advising that you go and cash in your 401(k) or take out a second mortgage to buy silver (or any other precious metal), I’m just giving you food for thought. Wouldn’t it have been nice to have some of those silver Quarters on-hand though the years? Check out some of the silver Money Metals Exchange (formerly Independent Living Bullion) offers.