Banks have essentially stepped out of the safe business (virtual storage is easier and more lucrative). Those that still offer such services keep raising the prices in an attempt to drive customers away.
My business backups were stored in such a bank safety deposit box between 2002 and 2006, at which point they stopped offering the service.
> almost everyone saves in currency/stocks etc.
"saves" is not the word I would use in this case; I'd use "attempts to store value" for currency and "gambles recklessly" for stocks.
But even if we accept "save" - the reason is, of course, the government - think about how hard it has become to keep your gold: try taking delivery of bullion, then try selling it back; you'd probably take 10-20% spread hit if you succeed at all; now try with 10 bars, and you'll likely not succeed at all.
> Why so anti gold then if you are aware of the perils of saving in currency. Silverbug? :)
Oh, you've got me completely wrong. I'm not anti gold. I'm completely anti fiat money and QE. Its just that I've spent a considerable amount of time trying to figure out how to maintain the value of any assets I have, and am unconvinced that I can use gold for that purpose; not because it's not a good store of value (it is, as are silver, and potentially even platinum and rhodium), but because the logistics are such that I'm unlikely to be able to execute it.
Sure, a few coins here and there are easy to manage. But when I sell my apartment, and want that chunk of cash to maintain its purchasing power, a few coins won't cut it.
Thanks, I was unaware.
> I mean no one I know has them now -
Banks have essentially stepped out of the safe business (virtual storage is easier and more lucrative). Those that still offer such services keep raising the prices in an attempt to drive customers away.
My business backups were stored in such a bank safety deposit box between 2002 and 2006, at which point they stopped offering the service.
> almost everyone saves in currency/stocks etc.
"saves" is not the word I would use in this case; I'd use "attempts to store value" for currency and "gambles recklessly" for stocks.
But even if we accept "save" - the reason is, of course, the government - think about how hard it has become to keep your gold: try taking delivery of bullion, then try selling it back; you'd probably take 10-20% spread hit if you succeed at all; now try with 10 bars, and you'll likely not succeed at all.
> Why so anti gold then if you are aware of the perils of saving in currency. Silverbug? :)
Oh, you've got me completely wrong. I'm not anti gold. I'm completely anti fiat money and QE. Its just that I've spent a considerable amount of time trying to figure out how to maintain the value of any assets I have, and am unconvinced that I can use gold for that purpose; not because it's not a good store of value (it is, as are silver, and potentially even platinum and rhodium), but because the logistics are such that I'm unlikely to be able to execute it.
Sure, a few coins here and there are easy to manage. But when I sell my apartment, and want that chunk of cash to maintain its purchasing power, a few coins won't cut it.