Stacking Gold Coins in Safe Deposit Box
I have been asking is John Mauldin buying Gold ever since signing up for Thoughts From The FrontLine over 20 years ago when it began.
And while I don’t want to be quoted on this I can say my memory is still pretty good.
Many times over the years, though less recently, he has written about this topic.
What I recall is John saying that every month he would buy a few Gold coins and stick them in the ol’ safe deposit box at the bank.
We don’t recommend Safe Deposit Boxes for Gold Storage
To be clear, we do NOT recommend storing Gold in a US Bank safe deposit box for a variety of reasons. We give you the reasons for that in this 2013 article (nothing has changed for the better since!)
In all fairness, we don’t know if John really did store his Gold at the bank or if he just didn’t want a bad apple or two of his 1.5 million subscribers wondering if his home was a great target for theft!
Either way, it was stated in the most recent missive he writes weekly (linked above) that this was most prominently done in the early years of this century. Around 2002 – 3 we also bought Gold in various forms.
(Side note: I highly recommend you subscribe on Mauldin’s site)
It was stupid cheap at the time (under $300 for a 1 ounce coin!)
Think about it. Last year premiums for Gold Buffalos (my favorite) and Eagles was $200 – $250 OVER SPOT. Back then, we bought the entire coin for under $300 – $400.
John Mauldin Buying Gold Now?
While he has not often given anything resembling investment advice (on purpose, I’m sure)…
These past 2 weeks he has given insight to his personal portfolio.
This is what he said about Gold:
I am not a gold bug, but I bought a significant (for me at the time) amount in the early 2000s at a generational low. The price is obviously up and is still a significant personal position. I don’t really look at gold as an investment but more as central bank insurance. If I ever sell my gold, it will be because things have gone to hell in a handbasket for either me personally or the world in general. I sometimes quip that I hope my gold goes to zero because that means the world has done very well. I’m afraid that will not be the case. I should add more. (emphasis ours)
Of course this doesn’t mean he will; yet we agree, he should.
Go back and re-read that quote.
Now let me ask you: do you feel things are looking like they might go to hell in a handbasket?
These images out of Philadelphia (this time) are becoming quite frequent. Always Democrat run cities, always with non-prosecution policies and defunded police departments
We don’t give investment advice, yet we suggest you ponder these ‘times’ we are in and reference John’s quote.
Where To Buy & Store Gold?
When buying Gold, timing is not the only factor. No, we are not at a generational low as John speaks of…
Yet, we are at a time that Central Banks are, do I dare use the word ‘hoarding’ Gold?
What do they know?
Next, you need to buy at a good price with minimum premium over spot.
We like The Hard Assets Alliance for many reasons and here are just four:
- You the consumer get the advantage of their large buying power to get great prices
- You have the option of the most popular forms of Gold: bars and sovereign coins
- You can have them store your Gold in a global vault of your choosing at very reasonable rates
- You can direct them to send you your Gold anytime; immediately or at some point in the future
This was supposed to be a ‘brief’ article so I’ll stop here with the suggestion that you CLICK THIS LINK to learn more about The Hard Assets Alliance.