Anyone own any gold? Bullion? Coins? I'm more interrested in bullion, but don't know how to buy it, or where I would store it if I had it. I'd like to keep it close by, maybe even bury some!

Is it true the Gov't confiscated personal gold during the Depression?

Any info or ideas?

 

This comes up during every financial panic. If things get so bad you need gold, coins or smaller bars are easier to trade. In reality, if things get that bad you would be better off with a good supply of water, food, weapons and ammunition.

As a possible inflation hedge you may do ok, but gold tends to go through boom and bust cycles, and you would be buying at the top here.
Storage and access are problems. You can't eat gold and trading it in a period of total disruption can get you shot.

In my experience, during a civil war most major currencies are accepted although prices may be grossly inflated. The currency of the host country may not be accepted.

 

Here's a link: Buy Gold: Gold Bullion Investments: Which to Buy, Gold Coins or Gold Bars?

I'd recommend renting a safe-deposit box at your bank, to keep your gold in. It's tax deductible and hopefully you'll remember where you put the stuff.

 

Just don't think you will be able to get to that box in any real emergency.


http://www.scribd.com/doc/3036556/Sp...iques-TC-3129A

 

Owning gold is part of my investment portfolio and a means of diversification, not because I am caught up in this financial disaster that's occuring as we speak (the worst of which is yet to come, in my humble opinion). I have a preference for gold coins.

My parents were teenagers during World War II. Throughout his life and right up until his death, my father kept the basement of our house well stocked with flour, oil, coffee, canned goods, candles, water, rice, dried noodles, soy sauce, matches, and even whisky and brandy. In the garage, he stored several gas cans full of gasoline. My mother, on the other hand, tended towards jewelry (diamonds, pearls and gold) and cash in small denominations. She told me a story of how grandfather handed over one ring or one gold coin in exchange for a loaf of bread. The moral of the story was to have more smaller things than one large valuable object.

 

Your parents were very wise.

 

Now is the wrong time to buy gold. When the dollar is weak (now) gold values goes up.

 

If it is any help, this is no worse than the dot-com bubble. At least the underlying assets of real estate are there. They may have dropped by 30%, but they are still tangible assets.

 

Investing is the only purchase that people want to buy high and sell low. Gold is selling at a premium now, while equities are selling at a discount. If only investing was as easy as buying when you feel good and selling when you feel bad more people could do it on there own. But, we need ppl like that. That is what makes disciplined investors money. When they are buying, it provides a market for us to sell our investments and vice versa.

 

The problem with buying gold right now is, you don't actually get the physical gold, you get a certificate of gold ownership. So you don't actually get a tangible asset.