We are supporters of a certain Preparedness Forum that someone posted a question that went something like this:
I hear a lot about having money and precious metals on hand for the uncertain future. Wouldn’t an investment not be better spent now in a different way? Canned peas that cost currently cost $.78 might be $7.80 in our economic future. I would personally rather have food, water and toilet paper than paper money, coins or even gold and silver.
The foundation for asking this question is the current economy and trends. The question is very legitimate as many of us wonder what the next year will bring to or take from our financial stability.
Something that will preserve your life is far wiser than saving up precious metals alone. Some currency , silver or gold is likely to be needed and appeal to some as (especially the tax office to pay taxes on your land) in the event of an economic collapse. However, this question warrant some pondering along with some out of the box action steps.
There are many tangible belongings and skill set abiliites that could easily prove more priceless to life should we face a major change to the status quo.
Here is a short list to get started thinking:
- Water
- Food
- Growing fruits and vegetables, Foraging
- Canning, Dehydrating, Curing, Smoking foods to preserve them.
- Plumbing, handy-man skills
- Solar power (passive and active), wind or water power
- Raising livestock
- Things the pioneers and settlers did hundreds of years ago that enabled them to live
This incomplete list of skills and tangible goods (not omitting the venture of gaining and testing trying the old skills) are more valuable and may just be even more of a realistic option for many of us than a stash of shiny metals that can neither be consumed nor bring hope with person who is in search of sustenance.
To discover what may actually be important, ask a person who has lived through the Great Depression. With no money and income, what became essential to them? I believe the answer would enlighten us.
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Popular Questions
Should you buy gold or buy food first during uncertain times?
Buy enough food first to cover immediate household needs, especially if you lack a basic emergency supply. Gold can preserve wealth over the long term, but it cannot replace calories, water, or essential medicine during a disruption. Once necessities are secured, consider gold only as part of a diversified financial plan.
Is it wiser to buy food than gold when preparing for a crisis?
Food is usually the more practical first purchase because it supports daily survival and may become harder or more expensive to obtain during shortages. Focus on shelf-stable staples such as rice, beans, canned goods, cooking oil, and safe drinking water. Gold may have value later, but it does not guarantee access to supplies when stores or payment systems are unavailable.
When does buying gold make more sense than buying extra food?
Buying gold may make sense after you have adequate food, water, medical supplies, and other emergency essentials. It can serve as a long-term store of value, but its price can fluctuate and selling it may involve premiums or fees. Keep any gold purchase within an amount you can afford to leave invested and avoid using money needed for necessities.
How should a household decide whether to buy gold or food?
Start by comparing your available cash with your essential needs, including several weeks of food, water, medications, and household supplies. If those needs are not covered, direct the money toward food and other necessities before considering precious metals. After building that reserve, weigh gold's risks, storage requirements, liquidity, and role in your overall financial plan.
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