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Is it wise to store your assets in gold bars?

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Postby Contrarian Expatriate » Fri Jul 29, 2011 12:41 pm

It is better to hold it in ETF's or some other gold based security. The chances of your bars being stolen are greater than not being able to liquidate your gold securities.

Plus, physical gold is not as easy to sell as the ETF.
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Postby Rock » Fri Jul 29, 2011 1:47 pm

Contrarian Expatriate wrote:It is better to hold it in ETF's or some other gold based security. The chances of your bars being stolen are greater than not being able to liquidate your gold securities.

Plus, physical gold is not as easy to sell as the ETF.


Well for Americans who fear the what the US government might do in the future, it might make sense to buy and store physical gold overseas. FDR did everything he could to force Americans to sell all their gold stocks to the US Treasury at fixed (read way below market) prices back in 1933. People who got caught with illicit gold after that faced draconian penalties and punishment, especially through to WWII. Order was finally officially repealed in 1974.

Now its easy to buy gold ETFs in an overseas brokerage account. Or you can open an overseas forex account and buy and/or sell spot gold with razor thin transaction costs. But, you (onshore or offshore US person) are required to disclose details of all foreign financial accounts you hold to US Treasury each year and trading gains or losses to the IRS. So the government can effectively monitory your gold holdings this way. However, if you buy physical gold overseas and stash it into a safety deposit box, there are absolutely no reporting requirements unless you sell it and make a profit (which would need to be reported to IRS). And even then, you could probably just call it an 'asset sale' or 'jewelry sale' on your tax forms.

Here in Taiwan, you can buy physical gold from the Bank of Taiwan and as long as you retain the receipt they give you with it, you have the right to sell it back to them at any time at international spot based market prices posted online 24/7. Buy and sell spreads for these types of special bars are under 1% so its not that expensive. Even if you lose the receipt, there are plenty of gold vendors who will buy it from you for a slightly higher markdown. And safety deposit boxes in the big banks here are quite secure but also totally private. Even the local governments do not keep records of box owners, just financial account holders.

I know a repeat of the FDR stunt sounds unlikely. But, there are signs that US government is acting irrationally again. Since 2009, US government has used an old law to nail a lot of negligent Americans overseas, sometimes with confiscatory penalties. Those who fought faced jail time and even higher fines.
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Postby Grunt » Sun Jul 31, 2011 9:31 am

Back in 2005 I picked up like 35 ounces of silver for $7 odd an ounce. I just sold those 35 ounces for over a grand a few months ago. Wife and I decided to keep the gold. Who knows where the top is on gold? I would not be surprised to see $5000 an ounce for gold in the next 10 years.
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Postby shgrunewald » Fri Sep 23, 2011 7:31 am

Gold is slowly going down the charts while silver is climbing up. That only proves that gold's resources are almost depleted.
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Postby Hook » Fri Sep 23, 2011 3:13 pm

Try goldmoney.com. You can buy gold that is physically allocated to you and is held in reserve 100%. ETF's trade paper gold, which is oversold by a 100:1 ratio. Which means that if everyone demands physical delivery, everyone that has paper gold is only going to get 1% back.

You should always have around 20% of your assets in gold and silver. But you shouldn't keep more than that percentage in any asset class.

Harry Browne recommends in 'Fail Safe Investing' to put 25% in gold, 25% in stocks, 25% in bonds, and 25% in money market. Over the last 40 years, such a portfolio has gained an average of 9% per year, and has only had a loss in 3 of those years.
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Postby leavingusa » Fri Sep 23, 2011 7:36 pm

If you did that for the last 10 years (like Ron Paul did) you beat just about EVERYBODY.

http://www.forbes.com/sites/benzingains ... -investor/

It will probably fall when the market crashes again but that's when you should be buying.

American eagle coins, not bars. Bars too hard to unload due to counterfeits. You want something people know and isn't too big. Who is going to buy or accept a 10oz bar in trade when they can't verify that it's real? It's like going to Mickey Ds with a 100 dollar bil.

Try apmex and TAKE PHYSICAL POSSESSION. When the world economy disintigrates you're going to find out all those "storage" facilities aren't holding shit and it it is it will be confiscated. Forget ETFs and all that other nonsense, you pay like 28% tax on that and you can bet there isn't any gold to back that up - that's the next ponzi.

I would not put all my assets into gold, you need plenty of cash to ride out the dips. You need silver too. Do you want to have to trade an ounce of gold for a loaf of bread? How do you get change for that Einstein? You need "small bills" too.

You don't want to put yourself into a position where you are forced to sell at a loss. Remember nothing ever goes up all the time or down all the time.

I bought silver when it was at $20 an ounce, then it fell to below $10. Then it went up to 50 and now it's down to 30. I could ride that out because I didn't need to sell to pay my rent. If you don't have that kind of money you're better off storing food.

I didn't sell at 50 because I know that isn't the top, not by a long shot.
Last edited by leavingusa on Fri Sep 23, 2011 8:03 pm, edited 6 times in total.
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Postby leavingusa » Fri Sep 23, 2011 7:42 pm

shgrunewald wrote:Gold is slowly going down the charts while silver is climbing up. That only proves that gold's resGurces are almost depleted.


That's not really an accurate statement. Gold has been breaking record after record. It may be down this week but that sounds crazy to me. Silver was at 50 this summer, now it's at 30. Hello?

Gold (and silver) generally goes down when the market goes down. Hedge funds sell gold to cover their losses and the price goes down.

I'm thinking this fall commodities will get smacked down 2007 style when the market tanks again. That will be your next buying opportunity, buy with both hands.

When the market recovers I think we'll see sky high commodity prices across the board as the dollar disintigrates.
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