best way to buy physical gold descreetly

atush

If the economic climate is that much of a disaster, his money would be better invested in canned and dried food, bottled water, and a weapon.

Would never advise more than 1-2% of assets in PMs.


I hold gold myself, sold half the last time it was around here, as that was about double for me. But I would not buy at 1400.

redbuzzard

atush wrote: »

If the economic climate is that much of a disaster, his money would be better invested in canned and dried food, bottled water, and a weapon.

Quite. Reducto ad absurdum, who's going to buy all this "safe haven" gold come the nuclear winter, or other social breakdown? And what will they pay you with?

I'm happy to have it explained to me. I obviously don't get it.

I suppose if it crashed to $300 I might buy some with a non-critical sum of money, much as I might bet on the Grand National. But as a hedge or an investment...

For the sake of argument - are there gold investors out there who bought at a low price, have done very well, and now want to hedge their gains? What are they buying? Chocolate Hob Nobs?

And if I do have it completely wrong and it is a reasonable choice to use gold as a safe haven, what is the advantage of holding bullion rather than a physical gold ETF?

atush

Well, I am one, who bought gold, sold half at a great profit and invested in equities.


But, TBF, I would invest at 700-900, perhaps. Like I did before and with a modest amt. I wouldn't wait for 300, and I also would not bet the Farm

MoneySaverLog

redbuzzard wrote: »

And if I do have it completely wrong and it is a reasonable choice to use gold as a safe haven, what is the advantage of holding bullion rather than a physical gold ETF?

Cause when crunch comes to shove, the ETF is just a paper asset. If someone is naked short selling gold which does not exist on paper, who misses out then when it goes to pot. The physical stuff in your hands is what you need to throw at people when all hell breaks lose on the streets.

redbuzzard

MoneySaverLog wrote: »

Cause when crunch comes to shove, the ETF is just a paper asset. If someone is naked short selling gold which does not exist on paper, who misses out then when it goes to pot. The physical stuff in your hands is what you need to throw at people when all hell breaks lose on the streets.

That's the point, isn't it? If gangs are running amok, you might as well have bought the corned beef directly rather than the gold that you can't eat...

Yes, I did see the

brasso

redbuzzard wrote: »

Quite. Reducto ad absurdum, who's going to buy all this "safe haven" gold come the nuclear winter, or other social breakdown? And what will they pay you with?

I'm happy to have it explained to me. I obviously don't get it.

polite cough.

There are more than two possible scenarios, for heaven's sake. It seems you think that either everything will be rosy, with a return to economic strength, or that we'll all be living in some post-nuclear Armageddon where we are reduced to murdering our neighbours to stop them stealing our last can of baked beans. If we ever get to that point, I would happily top myself.

There's a whole range of possibilities in between. There have been enough warning signals over the past 5 years. How much longer can the EU keep bailing out failing states? How certain are we that the Euro will survive? If it doesn't, there will be some very painful financial restructuring. What about a period of high inflation? It seems to be widely assumed by some of the economists and broadsheet commentators I've read in recent months that a spell of high inflation is pretty much the only thing that can deal with the national debt.

For some reason, people confuse inflation/economic rebooting with the aftermath of a catastrophic nuclear attack.

I'm not an Armageddon-drooling goldbug, but like many people a lot cleverer than me, I recognise that there are some not-unlikely scenarios ahead where having a hedge of some kind, or preferably a range of hedges, that are not totally dependent on paper money or Monopoly-style punts on this share or that fund, is a reasonable strategy. It's really not that controversial.

The caveat, as always, is not to put too many eggs in one basket. This goes for gold just as it goes for shares, property, cash, wine, art, or whatever asset classes you favour. It also goes for canned veg and bottled water. Just how long could the tinfoil-hat brigade survive on baked beans? They'd have farted themselves to death within a fortnight.

redbuzzard

brasso wrote: »

polite cough.

There are more than two possible scenarios, for heaven's sake. It seems you think that either everything will be rosy, with a return to economic strength, or that we'll all be living in some post-nuclear Armageddon where we are reduced to murdering our neighbours to stop them stealing our last can of baked beans.

He he. I did say reducto ad absurdum, so I agree with you.

I agree also with those who say that the sovereign debts are ultimately unserviceable, and will end in some variety of default - most likely repaid with or rolled over into devalued currency in the case of the UK. The eurozone will self-destruct if it doesn't become a federal state.

The obvious thing to do is to search for an inflation matching return. I think I'd put real property ahead of gold, but I take your point about eggs and baskets.

brasso

redbuzzard wrote: »

...I think I'd put real property ahead of gold, but I take your point about eggs and baskets.

Me too. If I was still in my 20s or 30s [ ], with plenty of spare cash, I also would be putting property first. At least you have something to live in while the world deteriorates. But if you're getting older and you've managed to check off most of the usual items in your plan, then having some gold becomes a different proposition. I think we all agree that putting a sizeable proportion of your wealth into gold in the hope of a short or even medium term gain is not a good idea.

merlingrey

atush wrote: »

If the economic climate is that much of a disaster, his money would be better invested in canned and dried food, bottled water, and a weapon.

Would never advise more than 1-2% of assets in PMs.


I hold gold myself, sold half the last time it was around here, as that was about double for me. But I would not buy at 1400.

Gold is a bet against THIS being able to continue:



Period.....it's not an armageddon hedge, it isn't a hyperinflation or deflation hedge, it is just a hedge on WHATEVER would result if that chart swings the other way.

JoeWi

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