Do you actually physical own gold

i would have thought you have to have the gold as backup for the bits of paer issued.

I've got a garage full of gold.

http://www.style-your-garage.com/motive.php?item=4&type=w

There's another way to own gold !?!?!? I didn't know that.

http://www.telegraph.co.uk/finance/newsbysector/industry/mining/6546579/Barrick-shuts-hedge-book-as-world-gold-supply-runs-out.html



well boys it seems you bits of paper telling you that you own gold could actually be worthless - buy Kugerands or Canadian gold coins and keep them safe at your property, only gold that you can physically touch will be worth anything soon

crediter 07 Nov 23:34
i would have thought you have to have the gold as backup for the bits of paer issued.







NO

Where is the best place to buy physical gold and actually take delivery of it ?

We cashed in blackrock gold & general recently and trousered the profit, want to re-invest but unsure whether to go back to same fund ( if there is a fall back buying opportunity) or actually buy physical.

In spite of the nice profit, the fund didnt do as well as i hoped given the increased price of gold, i expected the mining shares to do better given they have pretty much fixed costs and the higher gold price should leverage up their profits more, but maybe they are just lagging the price rise at moment and the higher profits will push up share price.

http://www.google.co.uk/#hl=en&ei=bwn8SuTlHo_74Ab-ic3jAw&sa=X&oi=spell&resnu...

harrods sell it now (and will buy it back from you)
http://www.harrods.com/HarrodsStore/GlobalPages/ServiceDetails.aspx?Id=37ee84fb-3731-48db-8650-2e7cce700a00

i've no idea whether they are any good or not though

I think most Gold ETFs are backed up with physical gold, although I doubt if you can ever turn up with your certificate and ask for it.

cretificate.....thats paper.......lol.

yep ..krugerands...nother way toown some gold....live and learn men.

creditor - maybe you should do some research on your certificates because there are alot of smart people who dont actually want these - just gold

i suggest you have a look at whats happening with physical silver too - the problem is much worse because people actually want the material instead of abit of paper (to use in industry) - dealers simply do not have the stock

why they issuing paper tracking contracts...if they aint got it.

another ponzi scheme.

crediter 07 Nov 23:34
i would have thought you have to have the gold as backup for the bits of paer issued.

This is where the magic show starts...

Any more information on this would be appreciated, maybe a rating of the different vehicles there are to hold gold and how confident you'd be of getting your returns if everyone wanted to cash in?

Obviously physically holding the stuff would be best in this scenario, but what about ETFs and places like Bullionvault, are they all a bit smoke'n'mirrors or are some better than others?

Jabten, after reading about them in Moneyweek I signed up with Bullionvault a few months ago as I wanted to include some physical gold in my portfolio. Storage is an issue for most people with physical, so thought I would try bullionvault.
It's quick and easy to trade, although I have only bought so far. They give you a free gram worth about £25 for signing up. Ever purchase you make does exist in the form of phsical gold and when you own sufficient, you can ask to have a bar allocated to you and you can collect it if you want to. Sorry if this sounds like a sales pitch, but I promise I have no connection with them. Just passing on my limited experience.

Ever purchase you make does exist in the form of phsical gold

Out of interest, how do you know this?

Shab, fair comment. The honest answer is that I can't prove that as I have not actually set eyes upon the gold I believe that I now own. The ultimate proof I suppose will be if/when I actually buy enough to then say I want to take delivery of my own bar please. In reality that is an unlikely event though, as I and many people own fractions of unspecified gold bars. Really, I am relying on them actually operating in the manner that they state they do. They say that at all times they hold physical gold to a value of greater than the value of gold purchased by their customers. I don't feel exposed, but hopefully I am not being naive.

Snap DEJ, that's why I asked. I've got a chunk of stuff at Bullionvault and have had for a while as they sound completely kosher but given the chat above I was wondering if the pessimism was targeted at other outlets or included Bullionvault.

http://www.marketoracle.co.uk/Article14996.html


interesting article talking about some dodgy gold bars hollowed out and filled with tungsten as the companies didnt have the physical gold to delivery on their short sells

towers, yes interesting article and gave me momentary pause for thought. I hadn't considered that there might be semi- fake bars around. However, I felt the need to have some ownership of physical gold and didn't want to be bothered with the relative inflexibility of buying/storing coins and small bars. Bullionvault seemed to be the the ideal compromise. I guess you just have to have faith sometimes.
I find it is a mixed feeling owning physical gold. 50% of you wants the value to rise to the $2K/$3K level. On the other hand, if it did get so high that would probably mean everything else you own (especially cash) has gone bust. I have transferred some cash savings to gold and I see that as a hedge against the high level of inflation coming in a couple of years.

no need for research...obvious people dont buy sell gold with it in there pockets.....

crediter
you speak for yourself

i think i have a copy of it somewhere , UK #2

yeah called e.f.ts....

sorry e.t.fs.

Jabten, I was just wondering which currency/vault you choose to buy your gold. I have only bought in £/London so far. Partly because I haven't had the time to sit down and work out if US$ or Swiss may be better.

DEJ, I'm in £/Switzerland. Only because at the time I started it had the most liquidity for the £ ones.

The point for me is that paper gold is just that. No where does anyone offer you anything more than that. BV on the other hand does on paper promise an allocated piece of gold. I'm 99% sure that my gold exists and is appropriately recorded in my name. There is the possibility that the gold goes missing and then your looking at an insurance claim, which I wouldn't be confident of getting out of it completely happy. If you can find a better proposition than let me know, but in comparison to paper gold it is much safer imo.


If you think that the price will rise/fall and the world will stay roughly as it is then paper gold will be fine. If however you feel there is some merit in the concern over fiat currency and/or big economic crashes then holding physical is where you want to be.

All imho.

i knoiw gold has done brilliantly this past year, and technically looks like we could go to 1400-1500 soon. but if you re worried aboiut your physical allocation, why dont you put your saving in some company and get your share certificate? stocks have done better than metals this year ( esp in gbp terms ) as gold have rallied 20% which is almost as much as what cable rallied..