By Garfield Refining, Guess Contribution
An ounce of prevention is worth a pound of cure. That said, an ounce of gold or silver can offer far more value than what it’s current monetary value may provide in the event of a survival scenario as a direct result of a world-wide crisis.
Should a financial meltdown of epic proportions ever happen, the current monetary and gold-backed currency system as we know it will be rendered null and void. Natural resources in scarce supply such as fresh drinking water, oil and gasoline, food and seeds to grow your own food supply will become a far more valuable commodity for trade than cash.
For those of you who may have invested in gold or silver, or happen to have these metals on-hand in the form of gold and silver coins, bullion, or even jewelry... Fear not! Although they will not likely carry any sort of monetary value in the event of a crisis, these precious metals still have great value in a survival situation. Here are a few ways in which your gold and silver may be useful in preparing for a disaster.
Gold for Medical and Dental Issues
Anyone who has ever had a toothache can tell you the agony a cavity or an exposed nerve can cause. In a survival scenario, it’s essential to operate at your full capacity -- and nothing can throw you off your game or impede your judgment like searing pain.
Although both silver and gold are able to resist the oxidation process, gold is slightly better at it and less corrosive. For this reason, gold would be more desirable than silver for makeshift dental purposes (such as filling cavities or creating appliances) in a survival situation.
In ancient times, gold also had medicinal uses for treating diseases such as smallpox and to extract mercury from the skin to avoid systemic poisoning. In modern alternative medicine, gold has also been used via injection to relieve the pain associated with arthritis. While gold injections are slower to provide relief than modern medicine, in a disaster scenario, gold is still a viable alternative to help ease the pain suffered by folks with this ailment in the event that they can’t get to a formulary to get prescription meds to treat it.
Electronic Device Repair
Both silver and gold are excellent conductors of electricity. Their non-corrosive nature makes it ideal for creating and repairing electronic devices such as radios, cell phones, computer circuitry and other devices that may still be able to transmit signals in the event of a disaster. Gold offers slightly better resistance to oxidation, however, silver may be able to be found in higher abundance and easier to stockpile before a crisis emerges due to it’s present lower monetary value.
A soft, noble metal, gold’s pliable composition makes it easy to be transformed into connectors and contacts on electronic gadgets that may prove useful in a survival situation. Only a small amount of gold is needed to create these components for a cell phone -- roughly 50 milligrams, according to the World Gold Council. A little goes a long way!
Elements That Protect From the Elements
If and when a large-scale disaster occurs, conserving energy will be a top priority. Since both noble metals are easy to work with, gold and silver can be hammered into thin panels that can be used to reflect the sun and keep building temperatures stable. In the past, gold has been used by NASA as a coating for space helmet visors, protecting astronauts from solar rays and offer durable protection from extreme temperatures.
Silver can also be formed into a paste to make solar panels and generate electricity by using photovoltaic cells -- a process that transforms solar radiation into electricity, creating voltage from the silver material after being exposed to the sun’s rays.
If more conventional means of generating electricity and power aren’t available, using natural resources for a sustainable energy source will be necessary. Having gold and silver at your disposal to regulate temperatures and filter out harmful rays will be a highly sought-after commodity.
This guest post was provided by Garfield Refining, a precious metal refinery offering nation-wide service to both individuals and businesses. Located in Philadelphia, PA, this 120 year old refinery buys, sells & refines various precious metals including gold, silver, platinum and palladium. For more information and daily updates on precious metal prices follow Garfield Refining on Twitter.