In a serious collapse, silver would be hard to barter with. Generally, silver has value due to manufacturing needs (among others), and in a bad downturn, that would obviously be lacking.
Now gold, in small allotments such as coins, not bars, would have some value in bartering. But, generally you should think of it as a hedge against the devaluing of the currency, not necessarily a SHTF type situation.
But funny you post this, as I’m currently looking into buying gold finally, along with the assorted costs (safe deposit bank rental, insurance on same) which all have a price. But, I finally pulled everything out of the stock market (except for one stock that involves the WAMU bankruptcy, remember that?). Buying of gold is just a hedge, not a alternative to a total meltdown. In that case, yeah, food, water, ammo, medical supplies, although not necessarily in the order...
If it is truly a SHTF event, Banks will be locked up tight in the first few hours making "safe" deposit boxes of little value. Insurance companies will probably be swamped with claims as well and I would have doubts as to any help from that avenue.
Invest in a good safe, bolt it to the basement floor, and keep your own council as to what you do or do not have on hand. You might consider building a false wall in front of the "stash".
Consider this, gold and silver will be of little use at the beginning and during a financial collapse. Where having precious metals will shine is when the recovery is in process. Most likely the old money system will be gone with the government that supported it. Gold and silver will still have its value and can be used to re-establish your lifestyle if you survive.
Safety deposit boxes are not a good place to have anything of great value if a collapse occurs. Do a web search for “safe deposit boxes - shtf” for other opinions on safety deposit boxes. Best to keep your valuables near and secure. An intelligent person will have little trouble creating a safe place to keep their valuables.
As others have said, your survival food should be what you normally eat and most of it will last a while just as it is packaged. Buy what you need from the lowest priced places, locally or online. Just buy the best bargains. For long term storage information do a web search for “how to store *” with your commodity replacing the star. If no SHTF event occurs you will have food to eat that will have cost you less than the coming inflation prices which are rising fast.