As a prepper, you may just want to start. As precious metals go, this late comer is more valuable than gold and is more immediately useful in a situation when monetary alternatives push aside traditional currencies.
What Is Platinum?
Platinum is a latecomer to the family of precious metals. Gold and silver were in use as currency before people even knew how to write. The two were admired for their beauty as well as for their economic value. Their usefulness continues to this day evolving beyond traditional uses to become vital for today’s modern, electronic applications. Europeans did not discover platinum until just a few centuries ago. Ignored, initially, as just an inferior kind of silver, it was not until the 19th century when industrial interests began to see the newcomer’s unique qualities as electrical conductors and valued for their corrosion resistance. For most of the metal’s history since then, it has retained a higher value than gold. Its price was eclipsed by gold for only a few years during the surge in gold prices that ended in 2011. Platinum has since regained its strength.
What Good Is Platinum for Prepper’s?
First, platinum is more valuable per ounce than gold. As portability tends to be a major issue during any event that calls upon your survivalist skills, a smaller amount will bring more than the same amount of gold. It will give you more bang for your buck should the time come when paper currencies are laid aside. Second, consider this, approximately one-third of all this particular metal mined each year is used in automobile catalytic converters. Gold, on the other hand, is an element used widely to make critical connections in computers and mobile devices. Which is more accessible?
How to Start Buying Platinum
While the name of this metal may seem arcane, it is surprisingly easy to find and buy. Just as many nations currently produce gold and silver coins as legal tender each year, a large contingent of these same countries also mint platinum coins.
For example, the US makes Platinum Eagles in the same range of sizes as the more common Gold Eagles as does Canada and China. The type you choose should probably depend on the part of the world you will be living when unrest sets in for any reason. Buying coins, though, may not be the ideal option. Coins generally cost more than spot price. In a post-ordered society, you cannot necessarily expect a market to support the additional value assigned to these coins for their design. Instead, preppers may prefer access to raw chunks of this precious metal. A number of companies online offer help in buying bars. These are not the big, kilogram bars that first come to mind. Those are incredibly expensive and useless in any period of unrest.
Instead, consider buying the one-tenth ounce bars offered by these companies. They adhere closely to spot price and are easy to pack. As good as gold may become an outdated sentiment for preppers if things begin heading in the wrong direction. As good as platinum will become the phrase of choice, a more accurate declaration after TEOTWAWKI. Make sure your wealth is protected in this form before your preparations are finalized.