Hugh, I love your site and read it almost daily. I was wondering if you know anything about Karatbars? One of my coworker’s pastor is promoting them. The ones he has shown me look like gold leaf on a business type card. Is this worth looking at, in your opinion? It’s European Euros currency exchange from what I see. Thanks for your time and input.
Karatbars is nothing more than a multi-level marketing scheme. As I write this, you can purchase 1 troy ounce of gold from APMEX for $1294.49. Karatbars is selling 1 troy ounce of gold for $2090 if you buy in bulk (100gm for $6270) or $2262 if bought by the 1gm bar. You can get better pricing by buying into the multi-level marketing, but they are still way over-priced. In addition, their product is an “unknown”, as there currently isn’t any convenient way to verify authenticity if TEOTWAWKI happens. I would stick with standard products in standard denominations. If gold is too pricey, look to silver in the smaller denominations. I wouldn’t touch Karatbars with a “10-foot pole”.
For information on trading in precious metals, you might consider this article on SurvivalBlog: Trading in Precious Metals, by Kestrel