Gold especially in quantity is not necessarily easy to convert to cash quickly. Your 1 ounce coin or bar is valued too high to be usable for most daily transactions and still receive adequate change. Profit on gold holdings is subject to capital gains or similar taxes in many places. Significant gold purchases often need to be recorded by law.
Gold can be a good investment and I might even go so far as to say a decent part of one's portfolio or on hand holdings but it doesn't make for a very good cash equivalent in an emergency or for purchases unless the price to buy was negotiated in gold, which doesn't happen too often. 1 ounce silver coins or bars make for a more feasible unit of exchange if you can find someone willing to accept them.
There should be no problem squirreling precious metals away in a safety deposit box, provided you declare them on your taxes as required and the Italian Job crew doesn't walk off with it.
Gold can be a good investment and I might even go so far as to say a decent part of one's portfolio or on hand holdings but it doesn't make for a very good cash equivalent in an emergency or for purchases unless the price to buy was negotiated in gold, which doesn't happen too often. 1 ounce silver coins or bars make for a more feasible unit of exchange if you can find someone willing to accept them.
There should be no problem squirreling precious metals away in a safety deposit box, provided you declare them on your taxes as required and the Italian Job crew doesn't walk off with it.