Quote (Calipso @ Oct 24 2021 12:25pm)

Do you trust random bank employees with your valuable personal possessions? I do not.

Quote (JessiWan @ 24 Oct 2021 12:29)

But two keys are needed to access the box. One key from the bank and the other from you. Without your key, they cannot open your box.

Quote (Calipso @ Oct 24 2021 12:32pm)

Boxes have been seized and opened without the second key.

Quote (Black XistenZ @ Oct 24 2021 08:21am)

The idea with gold is not that it helps you during an ongoing crash of the economy/society with mass starvation and all that - the idea is that it provides you with a base net worth after a hypothetical currency reform/hyperinflation.

I've got around 50k in Kruger Rand gold coins in my bank deposit for this exact scenario. I'm fortunately not in a position where I have to put all my investment into profit maximization, so I can afford to skip a little bit of dividend for the sake of hedging against these scenarios. Going by the rate the ECB is pumping out money, hyperinflation/currency reform can unforatunely not be ruled out.

After a currency reform, my gold would have a purchasing power equivalent to 500k++ in today's money.

Quote (NetflixAdaptationWidow @ 24 Oct 2021 21:51)

If your concern is hyperinflation then any commodity is appropriate to invest in. Again, gold is just a commodity.

Quote (Black XistenZ @ Oct 24 2021 01:06pm)

Sure, but gold is durable, comapact and has a high inherent value (limited supply and needed for lots of technical applications, not just bling bling).

I inherited the coins; they were initially bought by my grand uncle during the 1970s lol. I probably would not have bought them myself, just never bothered to sell them.

Quote (Black XistenZ @ Oct 24 2021 03:06pm)

Sure, but gold is durable, comapact and has a high inherent value (limited supply and needed for lots of technical applications, not just bling bling).

I inherited the coins; they were initially bought by my grand uncle during the 1970s lol. I probably would not have bought them myself, just never bothered to sell them.

Quote (NetflixAdaptationWidow @ 24 Oct 2021 22:12)

My point is just that gold is a commodity. Think of it like any other physical item investment. Investing in gold is good if any other commodity would be a good investment under similar circumstances.

Quote (JessiWan @ 24 Oct 2021 22:10)

Can I ask you how you store your gold coins?

I was thinking about storing gold in a safety deposit box with a bank but someone above was telling me it was a bad idea.

Quote (Black XistenZ @ Oct 24 2021 03:21pm)

Again: I am well aware that gold is a bad investment in the current environment, and honestly most environments. I consider my gold (which ofc doesnt represent a huge share of my net worth) an insurance, not an investment.
There are differences though. Gold, unlike commodities like oil, cobalt, grain or stuff like that, is a commodity that you can physically store in your safe.

You need insurance for your deposit box which covers fire/flood, perhaps also theft. And of course you need to trust your bank to provide you access even at the hypothetical times when shit hits the fan.