silly question about buying gold?


Posted April 18th, 2010 by admin 4 Comments »
buying gold
OneDayAstronaut asked:


Ok…

Please do not laugh at me for asking this…BUT

When you buy gold, do you actually own it??.

For example…if i buy an ounce of gold… does it get delivered to me. Does some guy knock on the door and deliver a ounce bar of gold for me, which then have to store? If not…how do i know it exist?

Example: if i say go to TD bank and buy an ounce of gold and they give me a piece of paper saying i own an ounce of gold and 3 months later i walk in there and say “I want my gold ounce bar” Do they or can they “Give” it to me?

Hopefully you guys kinda know what i am getting at…

And if i do “Own” it physically and i want to sell it… how do i then take my ounce bar of gold i have in the shed, and sell it?