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Past having a couple of ounces for the heck of it, owning bulk quantities of physical gold has never made much sense to me.
First and foremost, it makes you a target. One of the posters above mentioned the funny look they get from the postman each month. While I am not paranoid to the extent to think the postman would break into my house, any number of people who work in the post office may see that package and your address, or may mention in passing to the wrong person about this guy who receives gold on a monthly basis.
Secondly, if you were the victim of a random break in, you risk having it stolen. Even if you keep it in a safe, less you have spent several thousands of dollars on that safe, most of the ones you can purchase from the box stores can be opened in just a manner of minutes from someone who wants it open.
Third, is the risk of fire. My grandmother's house burned down some years ago and her jewelry was all lost. It all melted down in the fire. My uncle talked about trying to pan for a couple of diamonds in the ashes, but even that would have been more effort that it was worth for such a small quantity.
Fourth, say the economy does crash, who are you going to sell these coins to? If you take the coins down to a resaler who provides you $10,000 per ounce, that does you no good if the dollar is worthless.
What happens when the bubble pops and suddenly gold is $400 an ounce?
First and foremost, it makes you a target. One of the posters above mentioned the funny look they get from the postman each month. While I am not paranoid to the extent to think the postman would break into my house, any number of people who work in the post office may see that package and your address, or may mention in passing to the wrong person about this guy who receives gold on a monthly basis.
Secondly, if you were the victim of a random break in, you risk having it stolen. Even if you keep it in a safe, less you have spent several thousands of dollars on that safe, most of the ones you can purchase from the box stores can be opened in just a manner of minutes from someone who wants it open.
Third, is the risk of fire. My grandmother's house burned down some years ago and her jewelry was all lost. It all melted down in the fire. My uncle talked about trying to pan for a couple of diamonds in the ashes, but even that would have been more effort that it was worth for such a small quantity.
Fourth, say the economy does crash, who are you going to sell these coins to? If you take the coins down to a resaler who provides you $10,000 per ounce, that does you no good if the dollar is worthless.
What happens when the bubble pops and suddenly gold is $400 an ounce?
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