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Gold Coins

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Gold bugs, questions...

I have decided to cash in my gold ETFs and go physical.

So queries I have -

1) What will home insurers typically cover interms of coins in the house?

2) At what point does int become economical to rent a deposit box off the bank and what is the typical cost?

Cheers.

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NEVER rent a safe deposit box, the state can and only 2 years ago went and opened 7000 safe deposit boxes in London.

Secondly just hide it somewhere safe, the best insurance is that nobody knows it is there.

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NEVER rent a safe deposit box, the state can and only 2 years ago went and opened 7000 safe deposit boxes in London.

Secondly just hide it somewhere safe, the best insurance is that nobody knows it is there.

+1

All safe deposit boxes in a bank will be sealed if the banks crash - a bank "holiday" will be declared. So on the very day you need it most, the gold will be impossible to get out. This assumes that you will be allowed to get it out when the banks open again. After the massive attempted confiscation of the contents of those safety-deposit boxes in London, I would never trust them again, in this country, and with our current politicized police force.

You might be ok in "Das Safe" in Vienna, or a similar place in Switzerland.

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Gold bugs, questions...

I have decided to cash in my gold ETFs and go physical.

So queries I have -

1) What will home insurers typically cover interms of coins in the house?

2) At what point does int become economical to rent a deposit box off the bank and what is the typical cost?

Cheers.

Have you an idea of how long you are going to hold physical?

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Have you an idea of how long you are going to hold physical?

Hard to say. With commodity secular bull markets lasting 20 odd years we should have another 10 years left to hold gold. Perhaps 5.

Also empirical evidence would suggest gold only crashes when interest rates turn positive. Cant see positive rates for a decade at least in the West.

Thanks for all the advice. I guess if you have a small sum it is easy to hold in 1 ounce coins.

I want to build up a decent pot in physical but put off by the thought of keeping a large amount in the house, likewise thinking about it safety deposit boxes are also a bad idea.

This is the problem with gold. Great asset, awful ways to own.

ETFs- 3rd party risk / government confiscation risk.

Coins in bank - 3rd party risk / government confiscation risk.

Bullionvault etc - 3rd party risk / government confiscation risk.

Coins in house - Theft / loss / fire risk.

Miners - Government super tax risk / poor management risk / escalating running cost risk.

Physical in your own hand has to be the best way to own together with some miners.

If/when the **** really hits the fan then I cant see any way but owning physical gold coins.

Edited by ringledman

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This is the problem with gold. Great asset, awful ways to own.

ETFs- 3rd party risk / government confiscation risk.

Coins in bank - 3rd party risk / government confiscation risk.

Bullionvault etc - 3rd party risk / government confiscation risk.

Coins in house - Theft / loss / fire risk.

Miners - Government super tax risk / poor management risk / escalating running cost risk.

Physical in your own hand has to be the best way to own together with some miners.

Interesting that the conclusion with this is always the same. Gold in the house with the risk of Billy Burglar stealing it always trumps trusting our government. Shows what a sorry state of affairs we have. The main risk with holding in the house isn't so much a common thief, it's the Police turning up with a search warrant and confiscating the lot just like they did during Operation Rize.

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Bullionvault etc - 3rd party risk / government confiscation risk.

Bullionvault do address that in their FAQ, which is why one of the options is to hold your gold in Switzerland.

DOI: I don't have an interest in Bullionvault, but I am thinking about becoming a customer of theirs.

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I certainly wouldn't keep a lot of gold around the house. Put some/most in the safe deposit box (or boxes) and keep a smaller amount hidden somewhere.

If the government really wants your gold, they'll get it no matter where it is, or they'll just outlaw selling it, or tax it, etc. If you store gold overseas, you may have two governments helping themselves to your gold someday.

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Hard to say. With commodity secular bull markets lasting 20 odd years we should have another 10 years left to hold gold. Perhaps 5.

Also empirical evidence would suggest gold only crashes when interest rates turn positive. Cant see positive rates for a decade at least in the West.

Thanks for all the advice. I guess if you have a small sum it is easy to hold in 1 ounce coins.

I want to build up a decent pot in physical but put off by the thought of keeping a large amount in the house, likewise thinking about it safety deposit boxes are also a bad idea.

This is the problem with gold. Great asset, awful ways to own.

ETFs- 3rd party risk / government confiscation risk.

Coins in bank - 3rd party risk / government confiscation risk.

Bullionvault etc - 3rd party risk / government confiscation risk.

Coins in house - Theft / loss / fire risk.

Miners - Government super tax risk / poor management risk / escalating running cost risk.

Physical in your own hand has to be the best way to own together with some miners.

If/when the **** really hits the fan then I cant see any way but owning physical gold coins.

You can stash any amount of gold in a 2 bed terrace and it never be found :ph34r:

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  • 343 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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