If you invest in gold that is not physically in your posession, then yes.
If society breaks down, who is going to honor that piece of paper that claims you own gold in some banks vault? You don't even know where that gold actually is...
this post was submitted on 08 Dec 2025
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I am not sure how useful owning the actual precious metals would be in a societal collapse. It's going to lose value quickly. It would take probably 5-10 years before some rich rober baron decides to make a market for it where it gets a decent trade value again. An Oz of gold is going to mean a lot less to me than box of bullets or some chickens, unless I can find someone to give me a ton of that stuff in trade before my family starves I am going to take the chickens.
Much more useful in a hyper inflation scenario.
In a societal collapse, it will be rather worthless, yes. But in an economic collapse, it probably retains more value than paper money or stock options. Property, of course, is premium. If you can uphold claims to it...
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Short answer: Yes.
Long answer: Yes. Tune all of that nonsense out… But don’t fret if you own a tiny bit, either.
I kind of like Warren Buffet’s ramblings on it:
Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take?
Gold has utility. Every circuit board uses gold.
Same with germanium.
And boron.
…I was gonna say I wouldn’t want a giant cube of boron. But actually, I kinda do?
If you find out where you can get a quality boron cube, would you see if they have any beryllium spheres?
only a complete bidiot or bignoramus wouldn't
It's... Not really a scam so much as a thing for weird cranks who think the apocalypse is coming. If you have gold then you have gold. And gold will likely hold its value for a long time because it's a rare resource. Unless we find some alchemy that turns common materials into it, it will likely stay that way. So if you buy gold at market value then you can always sell it later at market value, and that market value is almost guaranteed to be higher than when you bought it.
The people who are really into it though are the weird cranks. And I'd imagine certain stocks or even bonds are arguably better returns in the same time span.
Not to be contrarian, but please don't say gold is almost guaranteed to go up... There have been times in the 1900's where people lost in gold massively and didn't recover for decades.
It HAS been a good investment in the last while, but it may have been just luck.
Plus, at the price it's at now... I kind of fear buying it.
I looked into it as well but in the end went with a Gov Bond ETF instead.
Edit: typos, I have feet for hands
Lately the s&p etfs have been beating gold. So like, it's not a terrible investment, just there are better ones out there
please don’t say gold is almost guaranteed to go up…
I mean, in so far as inflation is almost guaranteed to occur in a productive economy, gold is almost guaranteed to go up over the long term.
A better question might be "Is an investment in gold going to outperform another asset class?"
I looked into it as well but in the end went with a Gov Bond ETF instead.
That's been the gambit with gold for a while. Point to a short term up-cycle in price and insist that's a long term ROI you can count on.
But when you look at the actual price history
there are long periods when the price is either flat or negative. Risk of holding gold relative to, say, the S&P or even basic Treasuries can get pretty high, unless you're very confident we're in one of those rare '04-'11 sustained price rises.
Even as a hedge against short term downturns, it kinda sucks. If you look at the big historical recessions - '81, '90, '01, '08, '20 - the price of gold had typically already jumped ('01 being a notable exception) and subsequent years were fairly flat. Spikes in gold prices aren't a bad prediction of future recessions, but they rarely make for good shelter on the eve of the crash.
You using XAU for gold or something else? Also have a favorite gov bond etf? I am not the best at evaluating those
I used IAU for the few instances I banked gold as a hedge. But I've never held longer than a year and it's never outperformed by overall portfolio returns.
It's just not a good long term investment.
It is not as stable as most currencies and market etfs (I can't remember the right term, but stuff like VOO) generally have more reliable and higher returns than gold (ie XAU) over the long run
VOO started about 15 years ago. Over it's life:
This is not specific investing advice for anyone here. I cannot offer that without knowing your specific situation and I charge for that, and once I give the advice you've paid for you'll think I overcharged because it's really simple (but reliable).
I'm acquiring a little gold. Not a lot, but enough.
What's enough? When my family was escaping persecution, they managed to travel under the cover of night and stayed in people's barns and homes during the day. They planned and managed these arrangements via transactions using gold coins, links or pieces of jewelry, or other relatively universal valuables. They also got away a couple of times using the same goods to bribe authorities.
A small number of generations of my family dealt with being told that their money or credit was devalued due to their religion, profession, or relationship to public figures. In those instances, the family members who fled survived, and most of the ones who didn't flee died.
I don't know that I have much faith in my ability to flee anything, so I'm not investing that much time or money into acquiring gold things. Found some old watches from my grandparents/great-grandparents that claim to have gold in them. Have a couple of my own little things and jewelry I've given my wife. All just things when the time to survive arrives. Which it might not ever.
I hope this somewhat answered your question.
If it's not too personal, I'm curious where your family escaped from?
Different parts of the family tree, but pre-Soviet Ukraine and Poland.
The Ukrainian family was erased over a period spanning from pre-WWI to pre-WWII. Around the time of the Bolshevik Revolution, a large portion was killed for having too close of ties with the Romanov family, and for taking advantage of the commoners. They incorrectly assumed that their social status would keep them safe. By the time that bolshevism fell out of style, anyone who remained was killed off for their radical support for empowering the commoners. Over just a couple of decades, a relatively vast family name was completely wiped out from a vast number of cities and villages. The only thing they all seemed to have in common with each other and those miles alongside them was their religion.
The Polish family either snuck out of Poland around the time that Nazism was becoming more popular, or died. One family member survived after their parents left them with some Catholic friends, and another two family members shockingly survived the concentration camps. My memories of one of them was how hard they'd cry when they'd see any portion of their numeric tattoo.
Now the living parts of the Ukrainian family live throughout the Americas, and believe that fascist leaders have redeeming qualities. Meanwhile, the Polish family is mostly in Israel and is mostly super-cool with Palestinian genocide. Imagine struggling so hard to survive, just for your offspring to perpetuate or promote the same shit that you escaped from.
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Fungible, portable, valuable. Gold isn't a scam, as far as the concept of wealth and hierarchy isn't a scam.
Fungible, portable, valuable.
It isn't fungible. Anyone who has tried to trade physical gold at anything close to the market rate can tell you that. And no retailer is taking a dribbling of yellow sand as payment.
It isn't portable. You can't produce a finite denomination of it easily or transfer it electronically or even carry it in a wallet economically.
It isn't intrinsically valuable. It produces nothing consumable in the way an oil well or corn field or machine shop can. It's a speculative asset with the potential to be turned into something more useful. But it has no practical use or purpose in a raw state.
Gold isn’t a scam, as far as the concept of wealth and hierarchy isn’t a scam.
The means by which commodified gold is packaged and sold to gullible investors is very often scammy. And the sales pitch promising future returns on investment are inevitably larded up with rosy predictions unsupported by current data.
The socialized mythology around gold (especially relative to peer commodities like copper or oil) radically inflates its sales price in bubble economies. But there's no reason you're going to see better investment performance than a purchase of real estate or commercial equity. And there's certainly no reason you would want to buy and hold gold long term if you had an opportunity to build or invest in an actual value-accruing business.
At best, a long gold play is a hedge against deflation and economic decline. At worst, its a fad that cycles in popularity relative to cryptocurrency or beanie babies.
Gold is only as valuable as people deem it to be. It's a solid investment because it doesn't suffer from things like inflation or short sellers. Gold is like a treasury bill in that you're not going to make a bunch of money short term, but you can be relatively sure you won't lose you investment long term. I heard something about a decade ago which still holds true: as long ago as the Roman empire, an ounce of gold was worth enough money to get you a top quality outfit including top quality sandals (shoes) and still leave enough for you to get a top quality meal. Will you get those things with gold in an apocalyptic situation? Nah, but assuming human civilization continues to survive, you can expect the value of gold relative to products and services to stay strong while currencies lose value.
You can short gold ETFs. Gold is highly speculative and has crashed taking decades to recover (~1980-2005). It's basically boomer-bitcoin.
you can short EFT's but shorting the metal itself is a different thing. As an element that has real world uses the market drives t he value.
EFT's
Oh thank the abacus gods I'm not the only one doing that
It pretty much is the same thing. In theory, shorting the ETF will drive the price of gold down (until the short needs to be covered; like all shorts), because all accounts must eventually be settled. The price of gold is literally set by the futures market, which people with the appropriate approval can also short. Gold dealers literally look up the price on the futures market and add/subtract a few percentage points to determine how much to buy/sell physical gold for.
If they ever get around to capturing an asteroid to mine, your hoarded gold will suddenly be worthless.
In the event of a collapse like you describe, I'm going to need something I can eat or wear, something tangible I can trade. If you can get enough people together that agree gold is a valuable bearer instrument then you've got a government. That's not really a collapse.
Gold is not going to save you. I'd we get to the point that gold becomes currency again, that will be the least of your worries. Those are just prepper fantasies.
If you are considering investing in gold as an asset, sure that's legit.
In case of complete societal collapse ? Yes.
But if you have to flee from your homeland, gold is a universal currency.
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It's a commodity that's widely used as a way to keep the value of a portfolio in case of inflation. Gold has a lot of utility but recently because of uncertainty about the US dollar central banks have been stocking up on gold.
Complete societal collapse is very unlikely and we have studied economics enough to the point where hyperinflation is avoidable.
For investors keeping some gold (10-20% of portfolio) can be very nice since it allows you to buy the dip and is inflation proof. On the other hand, gold can become a speculative asset so it's value can be inflated just like any other commodity. So in a way currently it's either a nice tool or a bubble (or scam as you call it).
Silver, used in solar panels, is also pretty good for same reasons.
There are a lot of delusional people in here posting about their personal shower-fantasies of what they would do in the apocalypse. You can safely discard all that. If it gets so bad you need guns and tools and... blacksmithing supplies? you are so utterly fucked that gold and bartering will be the last of your concerns. People will be fucking eating each other. You simply cannot run to the woods and start living off the land, you will starve and die without acres of ready land already producing food. Real-life isn't like a survival video game, there is no tech-tree that you can climb and start producing food.
Read some Cormac McCarthy for a more realistic view of the end of the world. (Then have a therapist on hand for the after-effects.)
For a financial collapse, gold would probably retain value, a society still needs something to base the value of its trading on, we can't just all carry around sacks of grain. How much value gold will retain is very hard to predict, but people have been using it for so long that it's already survived several widespread disasters and is still in use.
I remember reading Walden and thinking that even many many years ago this dude failed to be entirely self sufficient and still had to head back to town for random shit. It'd be so much harder nowadays.
Societal collapse? No gold won't save you. Tools and how to use them will.
Maybe during hyperinflation though.
Gods not a terrible investment but it doesn't have a short term ROI just a REALLY long term one.
I hate Bitcoin but its probably a better investment (and just as useful) than gold.
I'm a fudd though and ONLY buy stable stocks that yield reliable dividends though. ETFs, S&P stuff.
I feel like silver is a more practical apocalypse metal than gold because of its anti bacterial properties. Even if you can't turn it into surgical tools you can use it to help preserve drinking water.
There was a video essay by Folding Ideas (From "the line goes up" fame) about a weird documentary narrated/hosted by Idris Elba, and If I am remembering it right it was basically a propaganda/ad film targeting people like peepers and that are skeptical of the government and such. So I believe there is at least a push to make gold more marketable and in fashion, like De beers did for diamonds.
I don't know if I am allowed to link to outside content (because the rule of no reposting outside content) but in any case it should be easy to find for anyone interested.
Linking to outside content is good. How else could people cite their sources?
In a societal collapse your best investment is between your ears. If you can build/grow/... things you don't need to worry about losing value.
Obligatory not an economist, only know some basics about investing (and quite lazy about it)
I always thought that gold is just a rather unique commodity that people can also have the option of holding physically (not that it's advised to do so). Professional investors invest in just about anything as long as there is a potential return on investment, like typical stocks and bonds, gold and silver, housing/land, art, literal truckloads of food... frankly gold isn't even remotely the weirdest or "scammiest" on this list
As for more regular people, I do have a suspicion a lot of con-artists and/or people with suspicious intents heavily promote gold investing though. Also some libertarian types have a weird... fantasy? of total societal collapse with them rising to the top post-collapse, which I do not quite understand. But I'd presume gold would be attractive to those types since gold has been used as a means of transaction for a long time in human history
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This is just me, and I'm no expert. But I kind of think that, if you're legitimately worried about your country's currency collapsing, you might want to consider leaving your country. Any sort of collapse that leads to hyperinflation or the large-scale elimination of financial infrastructure is probably going to be difficult if not impossible for the average person to survive, gold or no.
That said, precious metals are a niche enough market that I can't imagine it not being rife with predatory sellers; companies that aren't offering scams per se—you'll probably pay them and receive what you pay for—but companies which are counting on people not knowing anything about the market and accepting a terrible price or poor quality goods.
Again, not an expert. But my end-of-the-world investment would be in shelf-stable food, easily-stored seeds (for planting), medicine, hand tools, high-quality camping gear, books, that sort of thing. If there is a collapse, those sorts of things will be immediately useful and also tradeable.
Anyone who buys gold online should have a tester, and there are reputable bullion companies like JM who don't charge a lot of markup. If you're on ebay trying to buy gold bullion there's a chance it's probably fake / silver wrapped with gold and stamped. There's videos on the internet of folks cutting those bars in half and seeing what's inside.
A way to increase your chances of buying real product is to buy coins that are in bad enough shape where there's no numismatic value left. Whereas every country that mints coins has strict laws against counterfeiting them and you can go to prison for doing it, making "novelty" gold bars and rounds is perfectly legal and there's almost no risk if you get caught scamming people with them (most often just a platform ban).
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