Wearing your precious metals. A fashionable, smart option.
One of the very first survival articles that caught my eye way back when was written by Ferfal, aka Fernando Aguirre. At the time he posted his notes about surviving the economic collapses of Argentina on a forum known as Frugal Squirrels.
I have no idea how I ended up on that forum, but it’s one of the best out there when it comes to overall preparedness chat and idea exchange.
Anyway, one item of interest was his mention of using gold jewelry as currency when the Argentine paper currency became all but worthless. He wrote about buying gold wedding rings and chains at pawn shops. These smaller amounts of gold became an effective way to purchase goods and services.
Over the years I’ve given this a lot of thought. I’ve often wondered about the practicality of owning a lot of gold coins if you’re planning on using that gold as a currency as the American dollar loses its value. Wouldn’t gold jewelry be just another way to “invest” in precious metals while giving you something pretty to wear as an added bonus?
- You probably already have some jewelry coverage on your homeowners policy. Unless you already own a lot of valuable jewelry, your 24k gold will be covered. (Be sure to take photos and document what you have.)
- Gold jewelry can easily be hidden under clothing and yet portable enough to take anywhere.
- Everyone in the family can wear a bit of gold jewelry, just don’t become a suburban Mr. T. I suppose you could even dangle a gold charm or two from the dog’s collar!
- Look for gold jewelry at estate sales but know what you’re looking for and how to make sure you’re getting the real thing.
When one of my sponsors, Owings Metals, decided to start selling 24k jewelry, I decided to make this video with a few more suggestions on the subject, including what you should watch out for.
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