Gold is a wonderful gift for children. They get to feel like pirates and it’s an easy way to contribute to their futures. Would like to give stocks but it’s way more of a hassle than going to the coin shop.
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You haven't experienced Indian households.
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But if you talk with refugees or the children of refugees, many of them used precious stones versus gold.
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I think of it (the ownership of actual physical stuff) as an insurance policy - a time-tested way of storing purchasing power that will not erode over time. No likely real gains or real loses over time - just a maintenance of purchasing power through time.
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aren't diamonds better for this purpose? higher price per lb, even smaller / more discreet and nonmetallic. granted pricing more subjective and many variables determine price but traveling with a 4 karat diamond is much easier than 1 kilo of gold
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