Plus, if you get to a point where you are in truly bad straits and you need to convert your gold to, say, groceries... as soon as you bust out a krugerrand you're advertising to all and sundry that if they come to your house and tie up your family, you'll probably cough up more. That's not a theoretical, it's a common story from the economic collapse in Argentina.

I do think it's good to have a little bit of precious metals set aside for a small emergency fund, but it's also maybe important to think through what that's gonna look like on the other end if you have to cash it in for necessities, because as soon as it looks like you're the sort of person who has a stash of bullion under your floorboards, you've painted a target on yourself and your family. Like, personally, I think it's better to invest in skills that make you useful to others, which can't be stolen. And for emergencies, it's way better if you look like you're parting with grandma's wedding ring, cashing in a broken necklace or a bent bangle bracelet, or selling that weird sterling spoon somebody traded you for some plumbing work, than digging out a stash of collector coins.