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My brother who is not a Trader wishes to ask you the following question:
I am concidering converting cash to gold coinage/bullion. My primary purpose
is to have gold ON HAND as a means of exchange, in a worst world case
senario (eg. superannuation fund insolvency or my bank closing it's door as
per in the'30's etc).
The www.perthmint.com.au offers: purchase of gold/storage/purchase of
redeemable certificates. The mint is owned by the Western Australian
government. It appears that purchase is faily stratight forward but
liquifying/redeeeming may be different. For the Mint to buy my gold back
will cost an immediate twenty to thirty percent. Obviosly this appears to be
'a negative' in holding gold?
Would anybody out there be able to advise me on pitfalls that could be
encountered in either the purchase of, or the selling of gold, either in
physical form/redeemable certificates or similar and what are the feeling's
out there in the use/holding of gold (or other precious metal's) in this
situation
Regards to all-Brian
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