Originally Posted by Ploofy
Precious Metals will be worthless when you'll want to sell them.
That's what I've always thought. By the time the situation gets desparate enough for you to try to dump off all your stocked precious metals, people will have way bigger concerns than jewelry.
On the other hand, early on, you might be able to buy a few things you need as things continue to fall flat. For example, a month after the dollar collapses, when paper money might be worthless, you might still be able to trade someone a 4-wheeler for a handful of gold coins, when otherwise cash wouldn't be acceptable.
The things that will keep you alive will be most valuable if TSHTF but some sort of social order is restored: weapons, ammo, food, water purification.
Other less important things might be toilet paper, deodorant, razors, batteries, etc.
But, I'd say keep a small amount of gold (or, I suppose in this case, silver) around, but don't put too much stock in it. I do see the logic in keeping silver, because it will indeed be difficult to "break" an ounce of gold, heh. On that same note, you probably wouldn't bust out the precious metals every time you needed a candybar, so in these cases you might very well say I'll give you five gold coins and a box of 9mm for [insert important item(s) that you really need].
And I guess to answer your question, if it is still worth a relatively large amount, then you might as well trade it out. But be ready to sell quick (if you can) because it is going to flip the other direction quickly and then nobody will want to buy it from you.