Everyone should have a couple of grand in a safe...what happens if the power goes out for an extended period and there are no banks open and interac machines and ATMs no longer function? It can happen...I know this because it happened here during a massive ice storm; our area was basically shut right down for a full week. Some areas went nearly two weeks before power was restored. In that situation, you need cash to get food...cash to get people to clear the felled trees from your driveway...cash for gas for your generator. Anyone who didn't have some cash stashed around the house was shit outta luck.
Everyone should have a couple of grand in a safe...what happens if the power goes out for an extended period and there are no banks open and interac machines and ATMs no longer function? It can happen...I know this because it happened here during a massive ice storm; our area was basically shut right down for a full week. Some areas went nearly two weeks before power was restored. In that situation, you need cash to get food...cash to get people to clear the felled trees from your driveway...cash for gas for your generator. Anyone who didn't have some cash stashed around the house was shit outta luck.
My money is Canadian dollars...and they are rock solid. If I were an American I'd definitely have a few ounces of gold in case of a currency collapse tho.
My money is Canadian dollars...and they are rock solid. If I were an American I'd definitely have a few ounces of gold in case of a currency collapse tho.
At close to $1400/ounce (current) gold just isn't viable for a situation like that. So you've got a lot of gold, how are you going to make change if you want to use it to purchase something? I think it can be a reasonable investment to hedge inflation, but for what you described silver eagles would be far better for barter/buying.
Yea i agree gold is so valuable it would be hard to trade. BUT for like a long term savings it would be OK. For short term savings, an emergency fund, silver would be the best bet. Easily tradeable