Gold and silver are what I call a constant of value, and they are the perfect choice for those looking to diversify their retirement savings. Metal can be melted and remelted into bars, coins, or jewelry, but the metal itself is the same material that stayed on the ground for eons before being mined and refined. Gold is the metal we'll turn to when other forms of currency don't work, which means that gold will always have value in difficult and good times. For those looking to invest in gold for beginners, there are many reputable Gold silver IRA custodians who can help you make the most of your investment. I have a mini-market and a shotgun to defend my actions from looters. If we're in some kind of post-crisis world where dinosaurs roam the earth, I doubt I want your gold.
It will be as useless (or as valuable) as paper money. Why? Because, in reality, gold is also fundamentally a fiat currency. That is, people have assigned it an arbitrary value. That value fades in a crisis, as does the value of paper money.
As the value of paper coins and other investments continues to decline, many people are looking for safer alternatives. The undeniable truth is that the value of gold will never be destroyed, central banks cannot inflate it, and governments cannot devalue it. While gold bulls are concerned that central banks will devalue currencies by printing more, miners are also continuing to extract gold. Gold can stimulate a subjective personal experience, but it can also be objectified if adopted as an exchange system.
For example, you can buy physical gold, buy gold shares in gold mines, or even buy shares in an ETF (exchange-traded fund) that tracks the price of gold. Under the gold standard, you can ask a bank to convert your paper money into gold at the legal rate (whatever).