How much silver should I have for SHTF?

[50centsaver]

Hello, I am one of the small % of people in our country who is stacking silver. So far I've only bought constitutional/junk silver plus some silver Amer Eagles. Don't have alot, but, how much is alot? How much should I have for the dollar collapse? I've listened to alot of podcasts and read much on forums but have never seen this advice re how much should we each have? Please don't say "as much as you can get". Maybe no one knows the answer to this for certain. Your thoughts? (I'm also aware of the importance of having cash before it happens, and food, water, fuel, land, etc. when it does)
Thanks ahead of time for any reponses.

[shinnosuke]

Your question is difficult to answer without knowing your personal beliefs and circumstances as well as your environment.

Just to give you a couple examples, if you believe there will be a dollar collapse, do you think there will be a period of lawlessness following that collapse? If so, your need for silver coins just increased.

If you believe it is good to hold land prior to the aforementioned dollar collapse, is the purpose of the property to provide a safe haven for extended family and friends (and perhaps their extended families)? If so, will those people come prepared with everything they need? If not, your need for silver coins just increased.

Etc., etc., etc.

[50centsaver]

"Your question is difficult to answer without knowing your personal beliefs and circumstances as well as your environment."

I understand that there's lots of variables. Maybe it was too ambiguous of a question. But- I am a typical home "owner" living on the outskirts of a city in central MN of approx 60K people. We won't have our home paid off for many years, if ever.

"...if you believe there will be a dollar collapse, do you think there will be a period of lawlessness following that collapse?"

Yes there could be, and would seem likely. How much silver then should I own? As much as I can? That's my question.

"...is the purpose of the property to provide a safe haven for extended family and friends"

Not really, the only land we hold is the 2 acres our house is on. We don't own it outright, we're paying the bank monthly- got a long way to go.

I've been saving silver for several years now, and just wonder how much should I continue to buy? I'm not rich, I realize my wife and I need cash for now. Again, just wondering if I get our silver level to a certain amount when can we breathe easier/feel like we have enough? What is that approx level? Maybe impossible to answer as is different for each situation.

[68Camaro]

All subjective as noted above and needs to be modified for individual beliefs and personal circumstances, but ...

a rule of thumb that I've posted before is an ounce of silver per person per day (or ounce of gold per month) for the period of time that you think needs to be covered during wealth transfer (a month, a year, for your retirement - 20 years, etc)

If it's you and your wife for a 20 year retirement and you have no other hard assets to through into it, that's roughly 15,000 oz. A lot? Yep. Maybe PMs will appreciate (in constant dollars), but maybe not. Gold is probably somewhere close to fair value, maybe only slightly undervalued. Silver is probably undervalued by a factor of 2x or 3x, and if that comes to be pass, maybe you'll only need half or third as much. So maybe only 5000 oz. (I hope so, cause I'm never getting to 15,000 oz.)

If you feel like you don't have enough, you probably don't.

[NHsorter]

If you feel like you don't have enough, you probably don't.

Well if that is the real test, then I am screwed for eternity.

[Day9]

I believe in a SHTF scenario it will take time for people to value Silver and even longer for an agreed upon value to emerge.

At first the most valuable things will be clean water, preservable/renewable food (canned beans, female goat), guns, medical supplies (basic stuff like band-aids and topical antiseptics), that kind of thing

Only after a new stability emerges will silver be able to be traded. Who knows how long this would take. Maybe over a year.

[wheeler_dealer]

If dollar collapses and you didn't have a good supply of food and necessities I can't imagine silver as a means of trade helping initially. After a while, months, silver may then become useful. I encourage my friends to have six months survival money. Three in cash three in equivalent amount of silver. Once at that benchmark than buy extra barter goods. Think farmers what do they use/ need? What could they trade with others for what they need.
I would have mix of small silver 90% in dimes, quarters. Half's and dollars as well. Copper cents especially.
$ 500. Face in silver
$500. to $1000. Copper cents with nickels as well.
Stay out of paper as much as possible.

[68Camaro]

Again - to restate something that has been said ad infinitum - the primary purpose of PMs is to transfer wealth to the other side of an economic crisis - NOT for use DURING the crisis.

(Not that there might not also be some utility for PMs during the crisis itself.)

[CtrlAltBernanke]

I've asked myself that question quite a few times. I try to answer it by asking myself if I'm in the top 3-5% silver stackers in my city. I don't think I'm quite there yet, but I do know I'm gaining on them every day. If I ever make it to the top 3% of silver stackers in my city, I know I will be fine. Also, I saw on the some investor being interviewed on youtube a few days back and he said after the transfer of wealth is complete, he estimates that it will only take around 500 ounces of silver to buy a decent size house. Hope that gives a better perspective.

[justoneguy]

that's about the same as asking "How much lead should I have" ?

[68Camaro]

...Also, I saw on the some investor being interviewed on youtube a few days back and he said after the transfer of wealth is complete, he estimates that it will only take around 500 ounces of silver to buy a decent size house. Hope that gives a better perspective.

I don't know "some investor"... Perhaps "some investor" is wrong? Who knows?

Historically an ounce of silver has been roughly a day's wages for a laborer of uncertain definition. (Back then a day was 12 hours long, and a week was at least 6 days., so that's 6 ounces per week for some seriously hard labor.) 6 ounces per week at today's more modest 40 hour week, at $12/hour (a nominal labor rate for semi-unskilled labor) is $480/week. At that estimation silver is undervalued and should be closer to $80/oz. That's simlar to my x2 to x3 estimate that I offer above.

500 oz at < $30/oz can't buy a house.

But 500 oz at $80/oz can buy some reasonable small houses in a lot of places, in the current market.

But $80/oz in real terms - or even $160/oz (2012 $)- isn't going to get you rich, nor 500 ounces of it buy you a mansion. Silver won't be the new gold. It'll still be silver, even if more expensive than it is today (at our current fire-sale prices).

[CtrlAltBernanke]

I don't know "some investor"... Perhaps "some investor" is wrong? Who knows?

LOL! Yeah I don't care for vagueness so when I threw that up there I was for certain that somebody would make a comment on that. I'll try to dig it up if I can find it. I hate being vague but like I've said in the past, everyday I try to soak up so a lot of information since I've only been doing this for less than six months. I'm usually up every night till 2 a.m. reading, or watching something about this. If I find it, I'll post it on here.

[Sheikh_yer_Bu'Tay]

I wonder about that myself every now and then. I ask myself if I have enough yet. I look for other investments I could trust to "transfer wealth to the other side" of a crisis. Then I always answer "Nope! Not yet!" and keep stackin'.

[SilverDragon72]

Not sure what I'll need. I'll just keep stacking as I'm able to with a variety of things....cash, copper, silver....maybe a sprinkling of gold. Scary thing is, I don't believe anyone really knows what, if anything, will happen.

Either way, be prepared...

[Copper Catcher]

Hello, I am one of the small % of people in our country who is stacking silver. So far I've only bought constitutional/junk silver plus some silver Amer Eagles. Don't have alot, but, how much is alot? How much should I have for the dollar collapse? I've listened to alot of podcasts and read much on forums but have never seen this advice re how much should we each have? Please don't say "as much as you can get". Maybe no one knows the answer to this for certain. Your thoughts? (I'm also aware of the importance of having cash before it happens, and food, water, fuel, land, etc. when it does)
Thanks ahead of time for any reponses.

Stats:
Number of people in US is roughly 300,000,000
The annual world silver production is roughly 700,000,000 ounces

If you got just two ounces you got more than most!

Get out of debt to everyone. Buy what you can afford to hold and never be forced to sell. Sit back and relax and enjoy the show.

[shinnosuke]

Water
Food
Shelter
Medical
Finely engineered mechanical devices capable of accurately projecting small objects downrange
PMs
In that order.

[OneBiteAtATime]

Survival? 1916.25 oz silver.
Comfortable? 7665 oz silver.
King? Ask Ray.

[OneBiteAtATime]

Survival? 1916.25 oz silver.
Comfortable? 7665 oz silver.
King? Ask Ray.

Wow. This went 10 minutes without any attacks!?!?!?

Here's the truth..... I have no earthly idea. I've tried outsmarting everything in my life.... and life knows better.

[Rosco]

Water
Food
Shelter
SKILLS
Medical
Finely engineered mechanical devices capable of accurately projecting small objects downrange
PMs
In that order.

Add in Skills what you can do in trade for what you need
both of you need complementary skills ability to fix or grow or make

then with some supplies from above you may be able to join a more prepared group
Make you word your bond

[fb101]

all of it.

[shinnosuke]

Water
Food
Shelter
SKILLS
Medical
Finely engineered mechanical devices capable of accurately projecting small objects downrange
PMs
In that order.

Add in Skills what you can do in trade for what you need
both of you need complementary skills ability to fix or grow or make

then with some supplies from above you may be able to join a more prepared group
Make you word your bond

I stand corrected.

My skill? Silent ninja assassin...and then I usually wake up.

[Engineer]

Step 1: Buy a chainsaw
Step 2: ????
Step 3: Profit

[Mossy]

I understand that there's lots of variables. Maybe it was too ambiguous of a question. But- I am a typical home "owner" living on the outskirts of a city in central MN of approx 60K people. We won't have our home paid off for many years, if ever.

Then you cannot rely on having a home when you need it. Plan now for what you would do if you lost your job and you and your wife got in a serious car accident. Think up the absolute worst combination that can happen. (Personal disasters are far more common than global, but personal disasters are not going to take a vacation just because a global hit first.)

How would you deal with it?

Might be you could come up with something that takes no more than 10 ounces of silver to get to refuge, could be you need 1000 oz of gold.

[50centsaver]

68camaro wrote: "If you feel like you don't have enough, you probably don't."

What will people who have NO silver do??

If/when the dollar collapses, might it be like what happened in the 30's- the last decade long depression?

[68Camaro]

We're already in a decade long depression which has been mitigated by massive borrowing to support heretofore unheard of unemployment benefits combined with food and housing subsidies that have kept the pain to a minimum (so far). I believe most of that must end within a year or three at most, and government support will be limited to emergency rations. The pain and suffering will lead to riots, then to martial law. I believe these things are inevitable at this point no matter who is elected this fall. Beyond that, it does depend on who is in power as to the course taken.