I like prec metals (gold and silver) as a hedge like stated in the OP. But I also think as preppers they act as a hedge against more than just inflation. If the SHTF I think these will be the only currency that survives imho. Maybe BTC? And of course barter items, but as a prep that guards against inflation and maintains wealth in both shtf and non-SHTF scenarios, i think it fits well into my investment strategy.
as for what to buy and how, I really like developing a relationship with a local coin shop. I routinely get better pricing than the cheapest online vendors. I rarely pay “sales tax” (tho the dealer says he builds it into my pricing)or shipping. I pay cash, so there’s no records. And the sales tax paid online is a factor. For 5-6% taken off the top, really bites into the investment.
here are some examples of my pricing. Snagged a gold AE 1oz with spot around 1800, paid $1950 for the coin. paid 1910 for a krugerrand 1oz. Silver. Prices and premiums for physical are high, but that only goes to show how in demand and manipulated the prices are. Ive paid between $3-4.50 over spot for coins. The generic rounds are lower premiums, but I’ve snagged maples and such for $4 over spot.
imho if you dont plan to own physical metals, stick to BTC.. as paper stuff is just that.