How about buying gold coins if you can afford to invest a million dollar on them? This will soon create a peculiar problem for you. Once you buy the coins, your immediate worry will be where are you going to store all that gold. That means, before buying gold coins, you should find a way for its secured storage.
Let's assume that you have opted for buying gold bullion coins, such as the American Gold Eagle. At the current spot sell price of about a thousand dollar, you would end up roughly with some thousand plus coins.
In case your choice is gold bullion bars, such the 10 troy ounce Credit Suisse gold bar, then also you would need to find a way to store one hundred and five troy ounce bars.
Go for some larger coins like say the 2008 Beijing Olympic Games commemorative gold coin. At twenty-two pound, this gold coin is the largest Olympic coin that has been produced so far. The Beijing Olympic Games gold coin features the logo of the 2008 Beijing games on one side. The other side of the coin bears the image of the Olympic athletes, flanked by a towering Chinese temple. At the current spot price, this huge gold coin would be worth about $400,000, if it were to be melted down. And it is a risky business to handle and store it at a secured place, like bank lockers etc.
Considering the risks, it sounds as if buying gold coins is easier than arranging a convenient and secured storing place for them.
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