Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.

A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.

A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.

I don’t believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn’t there.