Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Do you take physical possession?
>
Reply to Thread
Message:
<p>[QUOTE="ToughCOINS, post: 3244538, member: 20480"]In my opinion, physical possession is an absolute must. I don't even trust in custodial firms which service Gold / Silver IRA accounts. Gold and silver are fungible assets which, once sold off by the custodian, can never be identified as yours. Therefore, despite legitimate claims you might have to misappropriated assets, you could not prevent their resale by new owners, since the assets allowed in such accounts are generic, and not readily identifiable as yours. It's a very different situation with serial-numbered assets, or those which are identifiable from photographs.</p><p><br /></p><p><br /></p><p><br /></p><p><br /></p><p>Yes, there have been some very high profile cases, and likely even more of the less publicized variety over the years. Whether due to losses from leveraging the assets on account, to siphoning for gambling or drug habits, to willful concealment of family or employee theft, or to other forms of poor judgment I suspect most, if not all of them began as well-intentioned ventures, but got out of hand for one reason or another.</p><p><br /></p><p>Humans are flawed and, as good as their intentions are, I believe it is very easy for all of us to get in over our heads before we realize we are there. I include myself in that statement. </p><p><br /></p><p>How do I prevent myself from being defrauded? By taking complete control of what I invest my money in, in as much as i am able to. My 401K account is the sole exception to that rule.[/QUOTE]</p><p><br /></p>
[QUOTE="ToughCOINS, post: 3244538, member: 20480"]In my opinion, physical possession is an absolute must. I don't even trust in custodial firms which service Gold / Silver IRA accounts. Gold and silver are fungible assets which, once sold off by the custodian, can never be identified as yours. Therefore, despite legitimate claims you might have to misappropriated assets, you could not prevent their resale by new owners, since the assets allowed in such accounts are generic, and not readily identifiable as yours. It's a very different situation with serial-numbered assets, or those which are identifiable from photographs. Yes, there have been some very high profile cases, and likely even more of the less publicized variety over the years. Whether due to losses from leveraging the assets on account, to siphoning for gambling or drug habits, to willful concealment of family or employee theft, or to other forms of poor judgment I suspect most, if not all of them began as well-intentioned ventures, but got out of hand for one reason or another. Humans are flawed and, as good as their intentions are, I believe it is very easy for all of us to get in over our heads before we realize we are there. I include myself in that statement. How do I prevent myself from being defrauded? By taking complete control of what I invest my money in, in as much as i am able to. My 401K account is the sole exception to that rule.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Bullion Investing
>
Do you take physical possession?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...