This is gonna come off as an ad, but oh well. If you aren't aware, the USD is headed for collapse. What comes next is anyone's guess. Likely the gloablists will try to introduce a new fiat currency. There's theories that Trump has been packing State treasuries with real gold and silver to create a new US currency that is backed by precious metals.
Either way, your dollars are about to be worth less than toilet paper (okay they technically already are, but still). If you haven't got any silver yet, I recommend getting some now. The more you can get the better, but $100 worth is at least better than 0. These are the guys I buy from:
Anyone you buy from will charge over spot. If you know someone or find someone better, then great. I'm sharing a link for anyone who doesn't have a vendor and would like one.
Even if by some miracle the Fed doesn't collapse, you can always trade it back on an upswing, but even if the USD recovers or we go to a new currency, keeping a small stash of precious metals is just plain smart in case of... well anything that can hinder your currency usage.
What about investing in copper? I've been thinking about that. I know it's not a jewel metal but in the long run isn't it a lot more practical than silver or gold?
Practical in what way? I’m not sure I understand your reasoning.
Silver has massive industrial demand in addition to its use as a monetary metal.
Well it's used in electricalwiring and pipes, and isn't it still used in ammo .Maybe I'm all wrong in this but I keep thinking if shtf I would rather have a metal with practical purposes, even if it's not in large quantities it would be something that I could trade. I don't see people having a lot of use in trading silver or gold for food. It's shiny and pretty but very little actual practical use.
Silver is the most conductive metal on the planet. Blows copper out of the water. It's used in all electronics, solar panels, electric vehicles and military applications. There are 800million ounces of silver mined every year, 600million ounces get used in industry and 200million ounces for investment demand. The stuff that is used in industry is basically not recoverable (500 ounces blows up in every tomahawk cruise missile) and the silver in electronics isn't feasible to recover for less than $60 silver. Peak silver mining was reached in 2016 and mine supply has been steadily decreasing since then. Mines that are upcoming are not anything major and will not be enough to meet growing demand.
Coppers were the next denomination down in value from silver historically. Don't let anyone hold you back, but untill general people see a copper coin as worth exchanging goods and services for, the average person is better of going for silver minted rounds.
Ok thank you
I think the intent is to get into something physical (like gold or silver) in case of hyperinflation or the dollar becoming worthless (the same thing). It might be useful if you had physical copper on hand to trade but that isn't very practical. If you're just talking about investing in the commodities markets, I can't offer an informed opinion. Stock markets will inflate with hyperinflation but you'd probably still lose purchasing power in the long run.
To bulky for me.
This is the biggest reason.
I'd buy a big bag of old pennies & that's about all the copper I'd store.
Copper is easier to mine, not as much upside.