A case of beer and a steak should still cost the same ounce of silver (or $1,000 in its hyperinflated currency denomination 
) ...unless there is a significant production disruption that makes booze and meat much harder to acquire than silver.
And if the US has a severe shortage of beer and red meat... screw return on investments it's Mad Max time 
This.
In fact, I was bored one Saturday and analyzed housing and car prices since 1973-2009 compared to PM's. The median home (adjusted for housing supply and demand and square footage) cost the same amount then as it does now, same for your basic "car". Food has gotten cheaper relative to PM's due to improved supply, but in general, most things index pretty well to PM's. HOWEVER, PM's now are -technically- overvalued on a purchasing basis because monetary velocity is partially suppressed, which means price inflation hasn't occurred yet, while -true- inflation has (money supply to GDP). Price spikes WILL occur when velocity takes off, which will happen, ironically, if things get worse, stay the same, or even get better. That being said, PM prices relatie to true money supply are still well indexed, so as a store of value, they are still good.
Remember, PM's are a bad investment onto themselves, and are only an investment relative to currency, or if used as capital to create actual value-add business (store of value then used as capital if there is a demand for capital in a recovery). So in the long run, PM is a good investment, but only if a correction results in its utility as a reliable store of capital being useful (ie post correction recovery). Otherwise, it's an inflation proof hedge.
Right now though, the demand is extremely high, and will get higher, driving the pride above what it would be merely as a value store, so the investment value is decreasing, as is the true purchasing power, but it still is a good store of value, in my opinion, especially given QE-infinity, at least until prices get 20-30% higher, at which point consumer demand into those materials will cause ultra rapid price spikes, as no one wants to sell, but everyone opwants to buy. That is when you STOP buying and selling.
My logic is, buy until the "average" person starts buying, then stop.
Then, before the logic starts shifting from protecting value to protecting life (storage food demand is now the average persons interest, or people start selling PM's), exchange a fraction of PM's for excess of those (as at that point their price in dollars will be absurd), and then hold on to both.
Right now, all of my excess dollars (beyond 10-15% in PM's, and ensuring at least 3-6mo supply of consumables) go into mainly "tools"--tangible items with intrinsic value to perform functions or create value in a non-informational economy. Basically: food>gun>wrench>gold.
