No Stupid Questions

Some (many? most? IDK) gold sellers are scammers. They will sell you overvalued stuff and insist it's extra-valuable because of some feature they made up. They are the ones being loud on the web and making you hear about it all the time. So, if you hear an ad, and buy gold, you've probably fallen for a scam.

But investing in gold by itself is just like any other commodity. And just to say, the rule on that last phrase is valid for almost everything (it's absolutely valid for stocks and investment funds).

There are a lot of delusional people in here posting about their personal shower-fantasies of what they would do in the apocalypse. You can safely discard all that. If it gets so bad you need guns and tools and... blacksmithing supplies? you are so utterly fucked that gold and bartering will be the last of your concerns. People will be fucking eating each other. You simply cannot run to the woods and start living off the land, you will starve and die without acres of ready land already producing food. Real-life isn't like a survival video game, there is no tech-tree that you can climb and start producing food.

Read some Cormac McCarthy for a more realistic view of the end of the world. (Then have a therapist on hand for the after-effects.)

For a financial collapse, gold would probably retain value, a society still needs something to base the value of its trading on, we can't just all carry around sacks of grain. How much value gold will retain is very hard to predict, but people have been using it for so long that it's already survived several widespread disasters and is still in use.

When was the last complete societal collapse?

Gold is a good hedge against inflation. When was the last hyperinflation in your country?

If you look back at the 2k8 crash gold plummeted almost as fast. People sold it off to cover other positions.

I’ve seen the assertion that silver is a safer bet than gold. Less glitzy, but still precious and with more industrial uses.

Of course, if civilisation collapses completely, neither will matter unless someone will trade you something for your krugerrands.

Gold is a solid store of value. That's about it. It isn't a terribly good investment as it just doesn't gain value very fast compared to inflation. But, as I said, it is a solid store of value, so if that is what you are looking for, it isn't a bad option.

If you want to invest, you are better off with index funds held over the long term.

invested a lot in gold under the belief that in the event of like complete societal collapse

If that happens, a better investment is to make yourself as self-sufficient as possible. Have a way to generate power (solar + batteries), acquire water (well water), sewage (leech field), stored food (just extra cans of food you normally eat), acquire food (a rifle and somewhere deer exist), security (that same rifle).

None of that is unreasonably expensive or hard to get. But all of those are what you would want if you are worried about societal collapse.

Obligatory not an economist, only know some basics about investing (and quite lazy about it)

I always thought that gold is just a rather unique commodity that people can also have the option of holding physically (not that it's advised to do so). Professional investors invest in just about anything as long as there is a potential return on investment, like typical stocks and bonds, gold and silver, housing/land, art, literal truckloads of food... frankly gold isn't even remotely the weirdest or "scammiest" on this list

As for more regular people, I do have a suspicion a lot of con-artists and/or people with suspicious intents heavily promote gold investing though. Also some libertarian types have a weird... fantasy? of total societal collapse with them rising to the top post-collapse, which I do not quite understand. But I'd presume gold would be attractive to those types since gold has been used as a means of transaction for a long time in human history

Societal collapse? No gold won't save you. Tools and how to use them will.

Maybe during hyperinflation though.

Gods not a terrible investment but it doesn't have a short term ROI just a REALLY long term one.

I hate Bitcoin but its probably a better investment (and just as useful) than gold.

I'm a fudd though and ONLY buy stable stocks that yield reliable dividends though. ETFs, S&P stuff.

It isn't a scam. It is an asset like buying land in the middle of nowhere. It will in general match inflation but underperform most other investments. In the very long term I would expect that with global population stabilizing and declining, the value of gold will also stabilize and decline.

There was a video essay by Folding Ideas (From "the line goes up" fame) about a weird documentary narrated/hosted by Idris Elba, and If I am remembering it right it was basically a propaganda/ad film targeting people like peepers and that are skeptical of the government and such. So I believe there is at least a push to make gold more marketable and in fashion, like De beers did for diamonds.

I don't know if I am allowed to link to outside content (because the rule of no reposting outside content) but in any case it should be easy to find for anyone interested.

If you're looking for something to buy now that will have value in say 1000 years, gold's a pretty good choice.

NFCs, bitcoins, silver, gold, whatever. If the only way people can cash out is to get someone to buy what they're selling, there's always going to be an element of grift to it. It's just some are more grifty than others.

All investing is potentially a scam. That's why they warn you about securities trading.

This is just me, and I'm no expert. But I kind of think that, if you're legitimately worried about your country's currency collapsing, you might want to consider leaving your country. Any sort of collapse that leads to hyperinflation or the large-scale elimination of financial infrastructure is probably going to be difficult if not impossible for the average person to survive, gold or no.

That said, precious metals are a niche enough market that I can't imagine it not being rife with predatory sellers; companies that aren't offering scams per se—you'll probably pay them and receive what you pay for—but companies which are counting on people not knowing anything about the market and accepting a terrible price or poor quality goods.

Again, not an expert. But my end-of-the-world investment would be in shelf-stable food, easily-stored seeds (for planting), medicine, hand tools, high-quality camping gear, books, that sort of thing. If there is a collapse, those sorts of things will be immediately useful and also tradeable.

. It largely depends on how they are investing in it. Gold is a commodity just like lumber, gas, cotton, or livestock. You can invest in them like you would a stock or a mutual fund. Just like those other investments, the price will change daily based on the market. Gold is a weird one because everyone knows it was valuable historically and many people have physical versions of it. People use gold in their investment portfolios to hedge against some of their risk because typically the value of gold would go up when stocks would go down but our money was also tied to gold 50+years ago. The physical versions will change price too but they change differently.

• Gold coins? Unless they’re old or rare, they’re only worth the face value.
• Gold jewelry? It has value if it’s solid and not plated and then you need to get it appraised to know a fair value.
• Bullion? Probably the best form to have it in because that’s what countries and people that want to transfer physical gold will use.

In the event of total societal collapse, gold won’t matter other than it’s a shiny metal. They are better off investing in something more useful like the lumber.

As a finical instrument for investing it's fine. Makes total sense to have some of your money in gold.
As you describe, being a part of a prepping plan for the end of the world. It's really dumb, and a total scam.

Buy Silver instead.

In a societal collapse your best investment is between your ears. If you can build/grow/... things you don't need to worry about losing value.