Three Forms of Alternative Currency You Should Consider

No doomsday prepping checklist would be complete without discussing alternative currency. In the event of widespread disaster, your paper money may not be worth much. There are many money alternatives of value to consider before investing in alternate forms of currency.

money alternatives
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Precious Metal Investing

The first alternative that comes to mind for many is precious metals. Gold and silver values have increased dramatically in the last 10 years. There are a number of disasters in which possession of precious metals may come in handy: economic collapse, hyperinflation, or even personal emergencies in which you need to liquidate assets quickly. There are a few things to keep in mind when investing in precious metals:

  • Precious metals may not be worth much during crisis, but may prove a great investment during the recovery period when commerce is on the rise.
  • Buy only from reputable sources such as your local coin shop, Apmex or Kitco.
  • Gold has more value. At around $1,560 per ounce, one pound of gold currently has a value of over $25,000. That is big wealth in a small package.
  • Silver may be more feasible. Considering that gold carries so much value, silver may be a better investment from the prepper standpoint. It is heavier in terms of weight, but it will allow you to trade in smaller monetary increments. It also allows you to invest in smaller amounts.
  • Look for pre-1965 US coinage. These government-minted coins are 90% silver and may be more attainable.

Commodity Investing

During a doomsday situation, the biggest forms of trade will likely be everyday commodities. Those things necessary for survival will be in demand and extremely valuable. This has been proven time and again during disaster events worldwide. You are likely stockpiling these items for your family, so this will be items above and beyond your family’s expected needs.

  • Food
  • Fuel sources such as gasoline, diesel, cooking oil, lamp oil, etc.
  • First Aid supplies, including antibiotics
  • Lighters
  • Ammunition
  • Guilty Pleasures – alcohol, cigarettes, coffee
  • Tools

 

Business Investing

I’m not referring to going out and buying a business. I am talking about investing in the necessary supplies to create a skill-based business in a post-disaster environment. Assess your skills and probable demands – carpentry, first aid, soap-making, canning, gardening, sewing and mechanics are just a few that come to mind. These are skills you can trade for those things your family needs long-term.

What items do you think will be worthy investments?

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