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considering saving in gold bullion
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Surely the whole point of "savings" as opposed to investment" is that all the money is available when you need it. Using gold as savings does not meet that requirement since the price is volatile. When you need it as cash half its value may have gone.
You should distinguish between savings to ensure future expenditure and storing assets to handle an Armageddon scenario and allocate your wealth appropriately.1 -
p00hsticks said:Albermarle said:Malkytheheed said:You can hold gold without physically holding gold. Just buy into a gold index tracker fund,
In that sort of scenario, if you owned guns and baked beans, would you really swap thm for a chunk of pretty useless metal ?
By the way I do not have any gold at home !0 -
I love the idea of hoarding gold sovereigns, piling them up on a desk and insanely staring at them by flickering candlelight like ebeneezer scrooge. realistically the inconvenience of storing them safely, being able to sell them quickly somewhere for a good price is something needed to consider.3
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[Deleted User] said:
Got a couple of 50g gold bars, some sovereign coins and a bit of silver. They will sit there for good and won't be touched unless in emergency.
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[Deleted User] said:
I also have a safe. Some places offer the option of keeping the gold but this defeats the purpose of having it in my opinion. If you are going to be buying lots you want a decent safe as well so will need to spend on that. Can't really recommend a good safe store as it turned up scratched up a bit, which is common with safes. I also put a bit of cash in the safe etc. Might as well use it when you have itI hate buying stuff online as you can only go off of a photoSo any recomendation on a good quality safe please0 -
[Deleted User] said:Since I got the gold the value of each bar has gone down by about £100.
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RichTips said:I have several thousand pounds in sovereigns and a few hundred in silver rounds. While they've gone up in value significantly since I bought them in November of 2018, they're pretty unfulfilling as an investment as they're just inert metals sitting in storage rather than productive in any way. The spread between purchase and sale prices in general also leaves me a bit sour regarding putting money in precious metals.
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RichTips said:
If you want to designate a small portion of your net worth to holding them as a source of diversification or a speculative emergency fund I think that's fine, probably best not to fetishize them and start collecting just for the sake of it though.
No I want it as a means of savings as opposed to putting money in a bank account. Given the fact of everything going on and planned......Hyper inflation, Banks going bankrupt, Cyber attach and so on...
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RichTips said:
As for where to buy, I believe Hatton Garden Metals is reputable (though I think they're a little short of supply in some denominations currently).
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Scrudgy said:Pawnbrokers who advertised they bought gold wouldn’t touch it and said they only want old jewellery and coins.
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