“I sold the coins for current pesos and went to the grocery store. I literally bought food for my family that day,” recalls Lobo Tiggre. In today’s summer series themed on how precious metals can change and even save lives, he shares emotional moments of how silver coins came to the rescue.

The first shock occurred in 1977:“My stack of cash is literally worth half of what it was the day before.” Decades later, in 1999, Lobo was driving to Costa Rica with his wife and three children when the job he was moving for vanished mid-journey. Stranded in Mexico with no income and mouths to feed, he turned to his old coin collection — a briefcase of silver he’d saved since childhood.

“If I had had paper pesos, they would have been basically worthless. But instead, I had those pesos that had a smidgen of silver.”

“That lesson didn’t just save my life. It later saved my family.”

When Money Dies Overnight: One Man’s Story of Survival With Silver in His Backpack

Imagine waking up and your money is worthless. Not metaphorically—literally worthless.

This isn’t a dystopian movie script. It’s the real-life story of analyst and author Lobo Tiggre, who lived through a brutal Mexican peso devaluation in the late 1970s and a complete financial collapse in 1999. In both cases, gold and silver were the only things that saved him.

With inflation roaring and global debt spiraling out of control today, this story isn’t a history lesson—it’s a warning. “Gold saved my life,” Lobo says, and after reading what happened to him, you might say the same someday.

When the Peso Collapsed: “My Cash Was Instantly Worth Half”

As a young boy living in Mexico, Lobo had no bank account—just paper pesos. Then one morning in 1977, everything changed.

“They devalued the peso 100%. My stack of cash was worth half. Prices doubled. No warning.”

This was no slow decline. It was an overnight reset—a brutal reminder that fiat currencies can vaporize without notice.

• Paper cash lost 50% of its value instantly

• Prices of goods adjusted immediately

• No recourse, no warning, no bailout

While most adults scrambled, young Lobo had one edge: he had been collecting silver coins.

The Dollar Betrayal: Inflation Hits the U.S. Too

After moving back to the U.S. in 1979, Lobo thought he was safe—until he saw the dollar itself unravel under sky-high inflation.

“The dollar was supposed to be the good guy… but it was being inflated away too.”

This wasn’t just a Mexican story. It was a global one. America, too, was inflating its way out of debt, leaving savers exposed.

So Lobo made a decision: ditch the paper, save in silver. He turned his back on fiat and began stacking Morgan dollars and silver rounds.

Feeding a Family With Old Coins: The 1999 Collapse

Fast forward to 1999. Lobo was driving to Costa Rica with his wife and three kids in a Winnebago. Suddenly, the job offer vanished. No income. No cash. In a foreign country.

“I literally fed my family by selling old silver coins.”

He took a briefcase of saved silver coins—Mexican pesos from the 1950s, old Morgan dollars—to a pawn shop. They weren’t collectibles. They were scratched-up, tarnished, and forgotten.

But they had one thing that mattered: a smidgen of real silver.

• Each old peso sold for 1 modern peso—not because of numismatic value, but because of its silver content

• That money went straight to food for his children

• Fiat would have been worthless. Silver saved lives.

Hard Lessons: The Price of Trusting Paper

Had Lobo kept Mexican pesos in the bank, they would have been obliterated by three or four government redenominations. Those paper pesos would be worth fractions of a penny.

But his silver coins retained their intrinsic value.

“If it can happen in Mexico, it can happen in the U.S. Don’t think you’ll get a warning.”

Lobo’s story parallels that of Frank Giustra, who also watched his family’s wealth vanish overnight in Argentina. And it’s a warning echoed by Ray Dalio, who now openly admits that America’s debt path is “unsustainable.”

Why Gold and Silver Still Matter—Even in the First World

Some dismiss gold and silver as outdated. Others say Bitcoin is better.

But what happens when the power goes out?

“Bitcoin still needs a plug. Gold and silver don’t.”

Whether it’s a currency devaluation, banking collapse, or blackout—physical bullion is the only asset with no counterparty risk.

Gold and silver offer:

• True wealth preservation

• Tangible assets you can hold and barter with

• No dependence on electricity or internet

• Protection against inflation and fiat collapse

Lobo puts it bluntly: “It’s financial insurance. If you never use it, great. But don’t you sleep better knowing you have it?”

Gold vs. The Dollar: Which One Has Survived 5,000 Years?

When paper fails, metal endures.

From 1970s stagflation to modern blackouts in Spain, gold and silver have proven again and again they can outlast chaos, corruption, and collapse.

In Lobo’s case, silver didn’t just hedge against inflation. It literally bought food.

Conclusion: Don’t Wait for a Warning That Will Never Come

Lobo’s story isn’t rare. It’s just rarely told.

If you’re relying on the idea that “it can’t happen here”, you’re gambling with your future. The truth? It can happen. It already has.

Physical gold and silver are your last line of defense. And like any insurance, you don’t wait to buy it after the disaster.

About ITM Trading

ITM Trading has over 28 years of experience helping clients safeguard their wealth through personalized strategies built on physical gold and silver. Our team of experts delivers research-backed guidance tailored to today’s economic threats.

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