Would be funny if vending machines were changed to take gold coins and said ' this machine does not give change'
I agree, that Jim sinclair is good to read if you really want an 'up' view about gold. I think he is sincere and he has many years in the financial world...
It's true you can't eat gold. Even buying toilet paper is insurance against inflation...and insurance against one other thing too....
The good thing about gold coin is that it is a highly portable form of wealth (silver not so much so). One oz is currently worth about $1100. and it doesn't rot either.. so if you have a place in mind, you could even bury it somewhere... and it would still be there unchanged, a thousand years later (unless someone sees you put it in the ground !)
As insurance against banks collapsing, it's not a bad idea. George Green was saying his piece about it over a year and a half ago, it sounded like it was better to have something tangible and portable, than some numbers in a bank account.
But unfortunately, for gold to go up in value, it means that confidence in the economy must go down. So if you're 'winning' on gold... watch out for pitchforks going by your window...
I think food is a better insurance first if you're thinking along the...must get prepared... trail. If you've got some left over, then it could be fun to own the odd small coin.
Like any of this stuff, it's just worth covering the bases you can. But unlike shares, gold will never be worthless (unless you're a Mayan)
Ask any Spaniard
K
P.S. A lot of companies have sprung up in the UK lately trying to get 'junk' gold off people for cash... jewellery etc... so there must be money to be made in buying it somewhere or they would not have appeared.