Gold wouldn’t be worth in a collapse
Gold bugs often cite the fact that fiat money won’t be worth much in an economic collapse that wipes out paper currencies. A complete societal collapse is also touted on the more extreme gold investment websites, but gold would be worth very little in that case. Food and shelter, self-defense, clean water, protection — there’s a long list of things that might be useful in chaos, and a lump of heavy metal probably isn’t one of them. In fact, many societies facing near-collapse of their currencies simply rely on a foreign currency (usually the greenback) or they create a temporary scrip that functions as paper money in the meantime. Paper is easy to carry. Gold is not.