I'd like to initiate this thread to fish some wiser commentary from our more seasoned PM aficionados.
What have you found to be the most common argument against holding physical metals like gold/silver, and what is your best refutation in defense of your acquiring physical?
Let me couch it with my scenario.......a friend of mine is on the fence about holding physical, primarily because he is seeing holding physical gold as an "investment" as opposed to seeing it as money (a "sterile asset" not generating a stream of income, a la James Turk, and others) and a preservation of wealth.
He recently cited this article regarding capital gains taxes when selling gold and that we are not thinking or at least speaking to the taxable reality when we go to sell it. Of course we are presuming certain conditions upon that time we sell it too.
I wonder, how would you respond to this kind of rebuttal? How would you carefully craft a response to someone you care about and has honest inquiry into the situation?