A friend called me and asked if I know anything about putting gold in their IRA. This led to a discussion about precious metals, why he wanted them, and how to best acquire them. I’m going to our discussion below as a Q&A.
First, a note: When I refer to precious metals or PMs, I mean Gold and Silver. If I mean one or the other, I will specify gold or silver. For many people, precious metals includes platinum, palladium and rhodium, but that is true for investing, not prepping.
Why? Because I find it unlikely that someone will recognize a one ounce bar of rhodium after the SHTF (sh*t hits the fan) and you want to trade it for a horse or a cow. I don’t think these other metals play a big role in prepping and survival, so this article is going to ignore them. I’m not saying don’t invest in them, I’m simply saying don’t do so thinking that they will help you prep.Continue reading “Precious Metals for Preppers”