Gold and silver have held value for millennia, and will likely retain their worth even if the fiat money system collapses.
Silver is far more affordable than gold, so you can accumulate a nice stash of this easily tradable precious metal without breaking the bank.
Start silver stacking on a budget with these seven tips.
7 Smart Tips for Starting Your Silver Stacking Journey
Before we dive in, I’d like to stress that we don’t aim to give financial advice. Please do your research before you invest any significant amount of money in precious metals.
A word of warning: don’t overspend on silver.
Start with buying small quantities; your silver stack shouldn’t deplete your monthly budget. Also, if you have a limited “prepping fund,” stockpiling food, tools, and medical supplies should always be a priority over stashing coins.
Having said that, silver may become highly useful for bartering in a scenario of financial chaos when the dollar loses its value. The following checklist will help ensure you get the most bang for your buck when buying silver.
1. Check the Spot Price
Spot price represents the metal’s current market value. Silver’s spot price is currently just under $30 per ounce.
When you buy silver products in any shape (bars, coins, rounds, or jewelry) from a dealer, you’ll usually pay a premium over the spot price.
Bars and rounds come with relatively low premiums, while jewelry and rare coins may carry a huge markup.
Remember, you aim to get the maximum amount of pure silver for as little money as possible.
Forego the collectible coins and fancy pieces that would be less useful as a barterable commodity.
If you prefer a legal tender coin, consider the American Silver Eagle, the national official bullion coin.
2. Choose Small Units
Speaking of premiums, these will usually be lower for large (10 oz or 1 kg) silver bars. Does this mean you should go for larger bars because they’re the cheapest option per ounce? Not necessarily.
When you stack silver with emergency prep in mind, you want high liquidity rather than an investment piece to keep around forever. Small, lightweight bars, or even better, coins or rounds are much easier to trade.
You may also choose a silver CombiBar for maximum versatility. These compact bars are designed to be easily separated into small tabs you can use for everyday bartering.
3. Look Into Junk Silver
The term “junk silver” refers to previously circulated coins minted before 1965. These dimes, quarters, half-dollars, and dollars are pretty common and often come in beaten-up condition, which makes them of little worth to collectors.
Junk silver coins contain 90% or less pure silver, compared to bullion-grade products that contain 99.99% pure silver. Still, these old, underrated pieces are a fantastic option to start stacking silver.
By buying a few old coins here and there, you can eventually accumulate a nice stash.
Junk silver coins have another advantage: almost everyone recognizes old half-dollars, quarters, and dimes, so they may be easier to use as currency if fiat money loses value.
4. Check Out Local Coin Shops
Buying silver online is easy and convenient, and you can occasionally score good deals on bullion sites. Just make sure you check a dealer’s online reputation, reviews, and BBB rating.
However, you’ll often find better prices in your local coin stores, especially if you’re looking for junk silver. Sometimes a local shop will even match an online deal.
Buying local gives you a chance to examine the coins you’re purchasing. You can just pick up your silver and don’t need to pay for shipping or comply with minimum purchase requirements.
5. Consider Garage and Estate Sales
Garage and estate sales are another great source of cheap silver. You can often find not just coins, but also silver jewelry, flatware, candlesticks, and other solid silver items at rock-bottom prices.
They might be less liquid than coins, but still retain their metal value and can be traded for useful supplies.
Old silver is often quite dented and tarnished. If necessary, you can clean heavily tarnished pieces with silver polish or briefly soak them in a solution of hot water and baking soda in a tray lined with aluminum foil.
6. Make Sure You Buy Real Silver
Beware of counterfeit silver, especially if you buy from private people or little-known dealers.
Aside from intentional fraud, someone selling a large pile of items at a garage sale may not know for sure whether each piece is solid silver or only silver-plated.
Look for a “925” (92.5% silver content, i.e., sterling silver) or “900” stamp on silver pieces. You can also test silver items with a strong magnet: if the magnet sticks, it’s not real silver.
However, silver is paramagnetic, so if you place a magnet on a flat silver surface (like a silver bar) and tilt it 45 degrees down, the magnet will slide slowly.
When buying old coins, take a verified authentic coin and compare it to the pieces you’re checking out. Silver coins have a distinct feel and sound which you’ll soon learn to recognize with a little experience.
Genuine silver coins make a clear, bell-like ring when you drop it on a hard surface.
7. Store Your Silver Safely
As a prepper, you want easy access to your stash of tradable silver. This usually means storing your silver at home, where you don’t have to worry about closed banks or blocked roads.
However, home storage makes precious metals vulnerable to risks like theft and natural disasters.
All silver will tarnish with time. To slow down this process, choose a cool, dry place for your silver (no humid basements!) and store it in a tightly sealed container.
Ideally, you’ll have a heavy-duty, fireproof safe in a hidden spot inside a wall or under flooring.
If you don’t have a safe, split your silver between several discreet locations. For example, you can stash coins inside hollow doors, behind non-functional electrical outlets, or behind heavy appliances.
Placing a few inexpensive pieces in an obvious spot (like under the mattress) may discourage any burglars from looking for more.
