Recently by Tess Pennington: 5 Reasons to Read TheSurvivalMomBook
With the current world economic situation, wise people understand that paper money is simply the illusion of money. It is a representation of wealth of which the value can be rapidly manipulated. The US Federal Reserve randomly prints off bills with no commodity backing them, making the only value of these bills the worth that is allowed by the banksters and the elite
So in light of this, how do we save for the rainy days to come?
Once you’ve established the basics of your survival preparedness, you can protect your personal wealth by investing in precious metals. There are many different ways to acquire gold and silver. Here are a few:
- Purchase the pieces from mints or exchanges
- Purchase old pieces of jewelry or coins from yard sales, estate sales, thrift stores and Craigslist
- From trusted sellers on EBay
Mints and exchanges offer a sure thing. These businesses are built on trust and integrity. However when you purchase from everyday people or take a gamble on buying something at the thrift store, you need to be able to identify and test the metals yourself.
1. Look for markings. Jewelry made from precious metals in the US was required to be marked for metal content in 1906. On silver pieces you are looking for the numbers “925” – this indicates that the piece is Sterling Silver or 92.5% silver. If the piece you are considering is gold, you are looking for 10K, 14K, 18K, etc. 24K is 100% gold, and is very soft, so the other numbers are indicative of the gold content that has been mixed with a harder metal to make it less pliable.
2. Inspect the piece carefully. Is it rough near the edges? Is it discoloured in places? Is the finish chipping or flaking? These are all indicators that the piece may only be plated with silver or gold. These items require further testing. (Note: Sterling Silver will “oxidize” and tarnish – don’t be put off by black discolouration. This should wipe off with a soft cloth.)
3. If the piece has been marked, then you will want to test it further. Carry with you a strong magnet. Precious metals are NOT magnetic, nor are the other metals that are used in jewelry to harden them. If the piece of jewelry or coin reacts to the magnet it is not gold or silver.
4. Test it with ceramic. You can purchase a small piece of unglazed ceramic tile at your local hardware store. If you have a piece of questionable gold, run the piece across the ceramic tile. If it leaves a blackish mark, it is not genuine gold.
Once you have performed these quick tests, you may want to go further. There are two more definitive tests – the “Archimedes Test” and the acid test.
Break out your physics hat and perform a density test to determine the content of the metal you have on hand. For this you will require a vial marked in millimetres in which you can submerge the item in question.
Do not fill the vial to the top, since you will be displacing water with the jewelry item. Note exactly the amount of water in your container.
Weigh your item on a digital jewelry scale, marking down your result in grams. This is the “mass” of your item.
Place your piece in the vial and note the new water level.
Calculate the difference between the two numbers in millimetres. This is the “volume displacement” of the item.
Tess Pennington joined the Dallas chapter of the American Red Cross in 1999 Tess worked as an Armed Forces Emergency Services Center specialist and is well versed in emergency and disaster management and response. You can follow her regular updates on Preparedness, Homesteading, and a host of other topics at ReadyNutrition.com.