Curious as to the consensus. I have been averse to insuring gold for 4 reasons:
1. Hassle factor
2. Not convinced that I would get reimbursed (how to definitely show gold lost or stolen?)
3. Ongoing cost
4. Loss of anonymity!
Gold insurance?
Moderator: Global Moderator
Gold insurance?
Last edited by BearBones on Sun Aug 19, 2012 9:09 pm, edited 1 time in total.
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MachineGhost
- Executive Member
- Posts: 10054
- Joined: Sat Nov 12, 2011 9:31 am
Re: Gold insurance?
For #2 you would have to take digital pictures of each piece as well as save the purchase receipts.BearBones wrote: Curious as to the consensus. I have been averse to insuring gold for 3 reasons:
1. Hassle factor
2. Not convinced that I would get reimbursed (how to definitely show gold lost or stolen?)
3. Loss of anonymity!
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Re: Gold insurance?
This demonstrates ownership. But how do you demonstrate that it was lost or stolen? In the case of a safe deposit box (vs held at home), this might be more straight forward. But for gold held in a SDB, I wonder what the consensus is regarding necessity of insurance, since it would seem that SDBs have a very low probability of theft or loss. Just not sure benefit outweighs ongoing cost.MachineGhost wrote:For #2 you would have to take digital pictures of each piece as well as save the purchase receipts.BearBones wrote: Curious as to the consensus. I have been averse to insuring gold for 3 reasons:
1. Hassle factor
2. Not convinced that I would get reimbursed (how to definitely show gold lost or stolen?)
3. Loss of anonymity!
-
MachineGhost
- Executive Member
- Posts: 10054
- Joined: Sat Nov 12, 2011 9:31 am
Re: Gold insurance?
I'm sure an affidavit along with police report of the theft/robbery or similar documents from the bank would substantiate that.BearBones wrote: This demonstrates ownership. But how do you demonstrate that it was lost or stolen? In the case of a safe deposit box (vs held at home), this might be more straight forward. But for gold held in a SDB, I wonder what the consensus is regarding necessity of insurance, since it would seem that SDBs have a very low probability of theft or loss. Just not sure benefit outweighs ongoing cost.
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!