You can buy gold in most cities in the world. Probably the best format is gold coins (US eagles, Canadian maple leafs, etc.) in 1 oz denominations. You will pay a premium of about 10-15% for coins over bullion but the coins are much more easily recognized and if things get bad (and they very well might - hope not!), and therefore they will be easier to use for purchases. Right now, you would expect to pay about $2200 (USD) for a 1 oz gold coin and about $100-$150 less for a gold bar. You CAN buy 1/10 oz gold coins for about 1/10 the price (a little more of a premium) or 1 oz silver coins (e.g. Canadian maple leafs) for about $30 per coin. In terms of investment, they would historically be a poor one. IF things improve and there is no real disruption in life, the stock market might be better. HOWEVER, if things worsen (and they very well might do that), the gold investment prospects could be excellent. My silver coins rose in value by 70-80% over the last 5 years. I would expect gold to do likewise this year IF the only thing you care about is security and return on your investment. IF you are worried about holding onto something if things collapse, or just investing in something that WILL retain its value (it has for more than 2500 years!!), - then physical Gold and Silver are a good way to go. Some people think that dry and canned food would be better if things gets really bad - you can't eat gold (although you can almost always trade gold for food!!). However, I think you need BOTH. I would suspect that Gold would increase more than silver, but that is just a guess. I know that BOTH will retain their value. Consider them as an insurance policy. Please be aware that the demand is FIERCE for physical Gold and Silver!! Your local gold shop often cannot keep stock and there is always the chance of a change in the rules to prevent its purchase. It was illegal to buy gold in the USA for many years in the 20th century.
Good luck and don't give up if at first you don't succeed!
IT is unusual for Gold to be counter-fitted now, but I expect more of that in the future. One reasonable way is to purchase a portable scale and a micrometer. Measure the weight of the coin. It should be within 1% (or less) of 1.00 troy ounces (31.1 grams). Then measure its thickness and diameter. The Canadian maple leaf gold coin is 30.0 millimeters in diameter and 2.87 mm in thickness. While it is possible to dilute the gold in such a coin with lead (for example), it is challenging to make it exactly the right weight and size - not impossible.
Most reputable dealers will provide additional verification if you ask them and as I say, at the current time, it is unusual to find counterfeit coins. That may change in the future. At this point, there are no certainties in life other than death, taxes and the Love of God.
May God Bless us all and open our eyes in this terrible time,
Great advice! I have no idea how to go about buying gold (besides jewelry). Do you have suggestions?
You can buy gold in most cities in the world. Probably the best format is gold coins (US eagles, Canadian maple leafs, etc.) in 1 oz denominations. You will pay a premium of about 10-15% for coins over bullion but the coins are much more easily recognized and if things get bad (and they very well might - hope not!), and therefore they will be easier to use for purchases. Right now, you would expect to pay about $2200 (USD) for a 1 oz gold coin and about $100-$150 less for a gold bar. You CAN buy 1/10 oz gold coins for about 1/10 the price (a little more of a premium) or 1 oz silver coins (e.g. Canadian maple leafs) for about $30 per coin. In terms of investment, they would historically be a poor one. IF things improve and there is no real disruption in life, the stock market might be better. HOWEVER, if things worsen (and they very well might do that), the gold investment prospects could be excellent. My silver coins rose in value by 70-80% over the last 5 years. I would expect gold to do likewise this year IF the only thing you care about is security and return on your investment. IF you are worried about holding onto something if things collapse, or just investing in something that WILL retain its value (it has for more than 2500 years!!), - then physical Gold and Silver are a good way to go. Some people think that dry and canned food would be better if things gets really bad - you can't eat gold (although you can almost always trade gold for food!!). However, I think you need BOTH. I would suspect that Gold would increase more than silver, but that is just a guess. I know that BOTH will retain their value. Consider them as an insurance policy. Please be aware that the demand is FIERCE for physical Gold and Silver!! Your local gold shop often cannot keep stock and there is always the chance of a change in the rules to prevent its purchase. It was illegal to buy gold in the USA for many years in the 20th century.
Good luck and don't give up if at first you don't succeed!
Ian in Vanccouver
Thank you Ian. I'll look around my city and see if I can find someone. One more question if you don't mind: how do you know it's legit gold?
IT is unusual for Gold to be counter-fitted now, but I expect more of that in the future. One reasonable way is to purchase a portable scale and a micrometer. Measure the weight of the coin. It should be within 1% (or less) of 1.00 troy ounces (31.1 grams). Then measure its thickness and diameter. The Canadian maple leaf gold coin is 30.0 millimeters in diameter and 2.87 mm in thickness. While it is possible to dilute the gold in such a coin with lead (for example), it is challenging to make it exactly the right weight and size - not impossible.
Most reputable dealers will provide additional verification if you ask them and as I say, at the current time, it is unusual to find counterfeit coins. That may change in the future. At this point, there are no certainties in life other than death, taxes and the Love of God.
May God Bless us all and open our eyes in this terrible time,
Ian in Vancouver
Thank you for the advice Ian!