If you’re buying gold, get the real thing, the stuff you can hold in your hand. From Jeff Thomas at internationalman.com:
Recently, a reader of International Man responded to an IM article regarding the danger of trusting banks (or anyone, for that matter) to hold gold in their names. He said, “How would a bank sell gold to a client and the client not take delivery? This seems strange to me.”
For those of us who have held gold for decades and have therefore had the advantage of watching the gold market develop with a seemingly endless number of permutations of ownership, the answer might seem obvious. However, his question is a reminder that there exists a great variance in the level of knowledge as to what, on the surface, seems to be a simple act – buying gold.
To those who are new to gold ownership (and I believe their numbers will soon be increasing exponentially), it would seem perfectly reasonable that gold could be purchased as simply as buying any commodity. If, for example, someone were to want to buy an apple, he would simply go to the grocery store and pay the price marked on the apple bin. If, however, he wanted quite a lot of apples, he might go to several stores and have a look at the prices marked, then choose the lowest price. Looked at from this perspective, it seems perfectly reasonable that the purchase of gold would not be significantly more complicated.
If you can’t hold it in your hand, you don’t have anything.
Pingback: Wednesday First Edition – Western Rifle Shooters Association
Pingback: Wednesday Final Edition – Western Rifle Shooters Association