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Originally Posted by pornmasta
in 2006, it would have been a good strategy.
For coins, i am not sure.
They may have a huge premium vs theiy price per ounce
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That's true, but it also doesn't matter. The coin itself has value in the sense that while you are buying for a premium over spot, you are also selling for a premium over spot when you do sell it. A .999 coin is not the same as a melted blob of scrap .999 gold.
Even if you were to use those 1/10th oz coins like Austrian Dukats. I can't tell you USD prices and I can't be fucked to look but right now a 1oz gold coin here is about 8500 PLN, and a 1/10oz dukat is about 970 PLN. This gives me 9700 PLN to get 1 oz of gold dukats, so theoretically my cost per ounce woudl be less buying a single 1oz coin, but I can still sell those coins at around 960-970 PLN - because not everyone has the money to buy an ounce at once, or doesn't want to buy that much at once, or they want to be able to sell smaller amounts. If you buy a 250gram gold bar you will get much closer to spot price but it's not like you can sell 1/4th of a bar to someone later - it's gotta all go at once.
There is also the numismatic value of coins. There are various silver collector coins that go up drastically in value IE the marvel or star wars ones. Some are harder to find then others, and collectors pay a premium for them. People will even pay a premium on the normal coins if you have a whole set of all the years of a particular minted coin.
So in other words, if you buy a 2023 1oz silver chinese panda today for $25 or whatever it might cost there, in 10-15 years it will have additional numismatic value.