buying physical gold/silver, page-12

johnnysilo

I would have to say a few things

1.First if you are buying any metal - check the buy back prices - unless things have changed I think pure metal is the way to go. Be very careful of coin buy back prices as some people suggest coins.
I have always dealt with the Perth mint, but not in a while.

2.Some people suggest eft's -- may I ask if the poo ever really hit the fan and you walked into a store to buy something - do you think the owner might rather trade your eft or the real metal (particularly gold - gold was one of the acceptable ways of buying things in the 1930's). I don't know about silver - but I know you could always purchase something with gold.
Also - if ever govt's decide that it is not ok for us to own gold - believe me your eft will be wiped out overnight - whereas if you have physical metal - IN YOUR POSSESSION (not the bank vault) - you will be in control of your asset.
Governments have the runs on the board for this -so don't think this is far fetched.

3. One ounce bits are not the cheapest way to go - but they are a negotiable size if you want to trade. Also 20oz gold bars fit very nicely into the skirting board on most houses, just in case you need an effective hiding place. You don't have to do a major renovation to hide or get to them and you don't have to trust the bank and you don't have a safe visible. All you have to do is keep your trap shut. Don't tell anyone except your partner - and definitely don't tell your kids.

have a good day Pinto