Silverbugs: A Phenomenological Study

The precious metals market often employs fear tactics to sell its assortment of shiny bars and coins. From nationally minted silver coins like the U.S. Mint’s American Eagle or privately minted rounds which feature anything from guns, breasts to Donald Trump, nothing sells metal better than the prospects of a good ole’ fashion economic collapse, war or – even better – all of the above.

On social media websites like Facebook and Reddit, silverbugs discuss “a good estimate of silver value after a complete US economic collapse.” Silver is portrayed a good “Shit Hit the Fan” investment.

Discussion of economic dire straits can be so detailed, the price of silver amid various scenarios is weighed, including ‘Great Depression’, nuclear strike, Electro Magtnetic Pulse (EMP), “domestic civil war & post-reconstruction”, zombies and/or pandemic.

Silverbugs, generally males ranging between teenaged years all the way to seniors, oft claim silver is a hedge from hyperinflation, perhaps being brought into the market by “to the moon” hype perpetuated by some of metal’s salesmen, like Max Keiser and his “$500 silver if you want it” campaign or Goldsilver.com’s Mike Maloney and his claim “gold and silver will take a moon shot in the next war.”

A silverbug might proclaim they’ll never sell their silver, citing either the “worthless” nature of modern fiat currencies or an earnest desire to pass the tradition onto the family. Silverbugs might even buy copper coins – or collect pre-1982 copper pennies –  as another hedge against perceived collapse. For some, being a silverbug means “I never have spare cash laying around.”

Conservative politics, guns, prepping and perhaps even military or civil service rolls abound among silverbugs. “Many of my brothers in blue stack silver as well,” writes one silverbug. In my discussions with Silverbugs, some missed an old member of the forums who shared silver with naked women designs.

Not all “silver stackers” buy silver to protect against macro-economic crisis. Many take a more balanced approach: “I think you’ll find that many/most of us – aside from Silver Bullet Silver Shield/Mad-Max types – don’t necessarily think the price is rising substantially anytime soon,” writes Reddit user ag00. “I initially bought into some of the ‘To the Moon’ hype, but now buy and put it in my safe with the mindset that it will go up at some point in the future”

Some stack for the of sake personal finances, not economic armageddon. “I don’t prep in the sense you are probably talking about, but I do prep for personal devastation,” writes r/Silverbug’s Energy_Turtle. “I keep solid insurance and I definitely keep cash and silver available. If I ever run into personal devastation (severe injury again, loss of job, injury of child, etc.) I want to be prepared. I think the end of my stable world is a much more real possibility than the end of the world altogether.”

Pondering, fearing and debating economic devastation isn’t the only way silverbugs bide their time. They love sharing pictures of their coins. Thousands of posts on Reddit and Facebook are simply proud silverbug showing off new coins. They’re not selling the coins, they’re just sharing the photos as others comment. Other times they give each other advice for shipping precious metals or cleaning coins. Sometimes the pictures come with other wares and goods associated with “prepper” culture.

“The ‘new’ America survival kit,” the poster captions the above photo.

Some silver coin designers take the combative approach, as well, such as Silver Bullet Silver Shield, whose website features sentences such as, “Enemy Unknown. Meet us in open combat if you dare.” Most are less intense.

Captioned: “that one piece of silver you polish daily.”

Another popular pastimes of silverbugs is the unboxing. When some silverbugs receive shipment from their preferred precious metals dealer – say APMEX – they will film their unpacking of their new silver, oftentimes reviewing the packaging job and appearance of the coins in the process.

“I like the silverbugs page because it’s not all selling,” says 30-year-old silverbug of three years Trever Piercefield. “I have learned a bunch of stuff just from reading what others have posted. I like seeing all the old stuff as well as the new pieces being created by some truly gifted people! Also like that you can buy stuff on the weekends and it seems to be priced pretty fair. Overall it has a nice vibe and good mix up of sales and education.” Silverbugs use the forums as a way to bond with likeminded folks.

“Collectors and artists of all diff. Kinds and ages with the love for shiny in common,” says 56-year-old stacker of a couple years Tim Murry, “and everyone has been friendly, respectful and helpful even when you’ve got alot to learn like me.”

At the end of the day, what brings silverbugs together might be a simple desire. “I’d like to believe we all share an appreciation for good, honest money.”

Some silver coin designers take the combative approach, as well, such as Silver Bullet Silver Shield, whose website features sentences such as, “Enemy Unknown. Meet us in open combat if you dare.” Most are less intense.

Another popular pastimes of silverbugs is the unboxing. When some silverbugs receive shipment from their preferred precious metals dealer – say APMEX – they will film their unpacking of their new silver, oftentimes reviewing the packaging job and appearance of the coins in the process.

“I like the silverbugs page because it’s not all selling,” says 30-year-old silverbug of three years Trever Piercefield. “I have learned a bunch of stuff just from reading what others have posted. I like seeing all the old stuff as well as the new pieces being created by some truly gifted people! Also like that you can buy stuff on the weekends and it seems to be priced pretty fair. Overall it has a nice vibe and good mix up of sales and education.” Silverbugs use the forums as a way to bond with likeminded folks.

“Collectors and artists of all diff. Kinds and ages with the love for shiny in common,” says 56-year-old stacker of a couple years Tim Murry, “and everyone has been friendly, respectful and helpful even when you’ve got alot to learn like me.”

At the end of the day, what brings silverbugs together might be a simple desire. “I’d like to believe we all share an appreciation for good, honest money.”