I still don't have any clear answer why PM's are going to do me any good if it all collapses. Or what I would do with my pre 2000 coins. Or where I would turn them in for the new currency or whatever. The last I heard the County isn't taking them for taxes in CA.
Everytime this happens I see people get sucked in to buying Gold and silver and then losing a ton of money when they crash the price. Somebody on here bought silver one time near 50 bucks if I remember correctly. How did that work out for you?
Wealth never disappears....it just changes hands and we are seeing a global hand changing right now. The purpose of gold (and silver) is to retain it's value over time and after the monetary reset when almost everyone is destitute you will have something to work with. That is what most central banks and sovereigns do and that is a reason why they hold physical gold in their vaults and not pork bellies or something.
Now, in order to make it through the reset or any type of collapse you need to be well provisioned and stocked up because as others have said before if you are down to your last couple of cans of soup or pound of rice you are probably not going to sell it for gold and silver coin. Once you have stocked up in all areas as much as you think you need to at that point you then take any surplus funds and turn them into gold/silver coins or other tangibles that will hold their value.
As far as people being 'sucked' into buying gold and silver and then losing a
ton of money demonstrates that you really don't understand what gold and silver are. The pieces of paper in your purse are not money, they are currency. You don't sell gold and silver as a trade to make money as they
are money. You don't buy/sell gold and silver to become wealthy,
they are wealth.
I've often said that you don't need to be the smartest person in the room. Just find the smartest person in the room on any subject and copy what they are doing for themselves. Central banks around the world are amassing tons of gold on a feverish pace and so are governments that know what is coming (China, Russia and India for example).
As far as buying silver for close to $50 I haven't done that but I have bought at $40 and I don't regret a single coin. I value my metal in ounces and not in the dollar suppressed prices. In other currencies gold and silver are close to their all time highs.
When this system falls apart nobody can be 100% sure what will happen but world history shows that gold and silver perform their function in chaos very well and even in recent history in Venezuela I've posted the story from Bloomberg that shows that poor people there mine placer gold and pay for their food and services with flecks of gold that they have mined.
Americans have forgotten what real money is......but not all of us. It is embedded in our DNA and we are going to see a rush to metal the likes of which are going to remind you of what Bitcoin has done.
When the dust settles you need something to work with and that is what the metal will do for you.