Don't buy any instrument that gives you an entitlement to...

Don't buy any instrument that gives you an entitlement to unallocated gold. You may end up taking on credit risk for no or little reward!

If you can't hold physical due to security or cost worries then check out GOLD ASX listed securities. You in effect own some allocated gold and can demand the trustee to produce it (albeit in the form of 12.5kg bars!). There is a BIG difference to allocated and unallocated gold.

Also, I wouldn't buy any gold whatsoever in the USA. With the trouble they are having I wouldn't be surprised to see them take back all gold from the public like they have done before.

Whatever kind of gold you buy you will pay for it... insurance & storage is the main cost. True there is zero cash cost to storing it under your bed but keep in mind that your insurance policy may not cover gold bullion and that you may be "self insuring" yourself to theft!

I stick to allocated gold in a bank vault.