Bullion - the scams in small bars are not existent from what I have read - as long as you buy from places like the mint.
Really large bars for long term holding - well I guess it depends on how pedantic you are - but it is really easy to drill a 1/8 hole for assay. That being said for a store of wealth for historically bad times - I would not and do not hold large bars ---- it might be slightly more expensive but small is the way to go. I like 20 oz bars and I like something small like half and 1 ounce (I don't have them because of nuggets) - I also like nuggets. It is my experience and also from what I have read historically that if the times are really tough, you can almost always buy things with small amounts of gold.
Security in trading is a big thing in tough times. So small is the way to go. For those of us who think this is crap - my neighbours father in the 30's lived in Collingwood - he was a gentle man who never fought with anyone. He had 3 kids and a wife and was robbed 3 times in the street for his food coupons. From then on he started carrying a piece of hose filled with gravel - he was never robbed again.
So security of portable wealth is a big deal - but common sense methods work very well.
I have a couple of issues with eft's AND also equities in a political sense. And of course govt's do extreme things in extreme times.
If governments ever decide to go backwards and ban us from owing gold -------- and before anyone jumps up and down - look at how long it is that we have been allowed to own the stuff in any amounts besides minimal jewelery -- not long at all.
Anyway - if they ever swipe the legislative pen - do you think you will be able to trade an eft???? - I don't know what they will do - nor do I know what they will do to private gold mine ownership?
Pedantic? maybe - but look back, and not too far either? Then tell me it can't happen again - even in Australia.
So for me if I were to hold a significant amount of gold in store for dark days - I would prefer physical IN MY POSSESSION.
Now at the moment I don't see any dark days, so it isn't a problem and I am happy to own mining company shares - and yes I visit them regularly and I look as close as I can. I can't do more than that. oh and btw. I visit EVERY company that I own that has a major place in my portfolio (sometimes I have a quick fly at something smaller/short term and don't research the the enth). I also have several telephone or email contacts with them if I have queries. When I visit them I have a hawk like mate with me who can spot a liar at 200m and a dill at 20km (as in all show, no go). I am pretty good at it also.
I know WA pretty intimately and have prospected there for many years and know a lot of the mine sites well. I also know quite a lot of the personalities there. Also if a rat is smelt in the west about a particular company - then I can assure you the price gets affected pretty quick and you can see it begin to move - but hopefully slow enough that you can get out - or in, whichever applies.
Are they all straight?? Who knows? I leave at the smell of a rat that I can't track down or if things look crook with the business.
As I said I know squat about eft's - but what I do know is that I don't know anything about them. I have no idea how I would check either.
I would say almost for sure that throughout the world there are good one's and bad one's - unless the nature of man has changed overnight - and I doubt that.
Pug you are dead right about it all being about trust - in everything. Judgement is a big deal. You are also right about the other variables in mining companies - that is exactly why you can make an absolute fortune in them if you get it right or get creamed if you get it wrong. Thankfully you don't have to get many right as long as you can hang in for the ride.
Anyway, one last thing - if someone came to me and wanted to do a deal - and they had 3 things they were prepared to trade and I could choose which one I liked
