Australian Bullion Company: Gold, was it a good time to buy?

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The thing I like best about the Australian Bullion Company is right next door to it's HQ is the vault which is accessible just about anytime you want access to your precious metals. It is a bit pricey but I am not keen on keeping metals at home, not so much for fear of being robbed but more so for fear of Little Miss getting a hold of it and taking it to school to show her friends.

We have already caught here with her silver coins in her bag as they rattled once I picked up her school bag in the morning. I almost didn't notice them except for the unique sounds that silver coins make. It is less of a Tin sound and more of a Thud kind of noise. Hard to explain.

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Anyway, I went and made an impulsive buy and more so because I wanted to own some gold (I don't actually own any gold not even jewelry) I know right! mainly because I can't wear it as I have a nickel allergy and if you want to test the purity of your jewelry hand it to me. The more cut it is the bigger my reaction.

So I've grabbed my first ounce of gold came in just under $AUD2600 which I am starting to think is a bad time to buy currently as Gold often is where people go to secure their wealth. Given the down trend of the global economic market I am thinking it was a bad purchase as Gold might be inflated and I wanted to know fellow stackers opinions.

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I have also kept to peoples advice and just gone for Bullion as there are a lot more benefits especially when it comes to the need to sell it. I can just go to my vault remove what I want and walk a few meters and hand it over to the cashier for some fiat.

This process also removes FUD, I did however, notice that you can purchase "pooled" gold on Australian Bullion Company website which is just like buying Crypto. They hold your wallet and all!

What are peoples thoughts on purchasing gold in that format? you can than switch it to physical gold for a fee once you build up a decent amount which may help people start their journey in precious metals.

So what do you think?

This whole process reminds me of being a kid receiving little baggies with goodies in them

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14 comments
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Buying stuffs like good 8s a good 8nvestment that could never deprecate

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Woot, woot!
A gold bar!
AWESOME, @melbourneswest !
Stack on!!!

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I heard Platinum should be the focus as it is used to make Hydrogen and governments will be moving to Hydeogen fuel cells. I'm looking into it now.

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I prefer to buy it directly on the stock market if I need to expose to this asset. More convenient and easy to sell when you need it.

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If you don't hold it you may not own it when or if SHTF, as far as your timing goes it's better to cost average and I feel the downside risk from here is very minimal.

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That's a beautiful piece it got me excited for the gold I'm going to be getting tomorrow

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Having a custodial party to vault your holdings rather than keeping it at home are okay for those worried of a potential home burglary or robbery. Or dividing your holdings can be a valid strategy of not having all the eggs in one place. The trade off is counter-party risk like; the company could go out of business, breached but a team of top safe crackers, or targeted by govt confiscation.

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I have heard about governments being able to confiscate gold in times of recession and other circumstances

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