Gold because of its ability to store wealth with little to no maintenance is one of the best assets to own in case of an emergency. Gold has a six thousand year track record of holding and protecting wealth. Also gold because of its resistance to corrosion can be stored in most secured places for little to no cost. Gold has such an ability to store wealth over time that when gold is lost at sea and recovered years or centuries later, the wealth of the gold found is always intact.
Another reason why gold is a good asset to have in case of an emergency is gold’s ability to reduce impulse buying. Since converting the gold to currency is an extra step, it will give most savers time to think if what they want to purchase is really worth it. Also if a saver does spend the gold, knowing how much gold they had to liquidate can give then motivation to replace it.
One last reason why gold is a good asset to have in case of an emergency is; gold’s ease to liquidate. Gold can usually be converted to any currency. Also most places that sell gold will usually buy gold. Gold coins and gold bars because of their known weight and purity are the recommended forms to store gold. It is also recommended that the largest gold coins or bars to buy are one troy ounce. The reason for this is if the gold coin or bar is larger than one troy ounce, it may become more difficult to find a buyer; making it harder to liquidate. Gold because of its ability to store wealth, reduce impulse buying, and its ease to liquidate, makes it one of the best assets to have in case of an emergency.
