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Patrick Heller: 'Paper' gold can be risky business
By Patrick Heller
Numismatic News, Iola, Wisconsin
Thursday, November 21, 2019
Owning "paper" gold is not the same as possessing physical gold. Even though prices of both forms of gold ownership are currently the same, they will not necessarily be equal down the road.
By "paper" gold I include all forms that are not having direct custody in your hands or stored in a vault under your own name.
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There are several kinds of paper gold, including:
-- Commodity futures contracts.
-- Options contracts.
-- Certificates of deposit of gold stored in the vaults of mints such as Australia's Perth Mint, the British Royal Mint, and the Royal Canadian Mint.
-- Shares of gold mining companies.
-- Gold exchange-traded funds.
-- "Bank accounts" denominated in gold.
There are multiple risks that ownership of any of these forms may not provide actual physical gold should the owner desire to take possession. ...
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