it’s a good way to diversify, and it’s an OK way to prop up your self esteem if you have too much money (compared with what people do when they want to feel filthy rich). If I were rich, I’d rather have a stack of pretty gold bullion coins on my desk than a Rolex watch or a designer handbag for my wife. At least gold coins don’t depreciate.
Gold works best if you have a way to hide it from the government. Last time United States were in a major financial crisis (1929-1933), government ended up trying to confiscate all gold held by private citizens. If you had gold in a safe deposit box in your bank, you were screwed.
