teapartyeconomist.com / By Gary North / January 7, 2013
I have been purchasing 1 oz gold coins over the past several years as central bank insurance, and am beginning to accumulate a substantial amount. After I die, I’m afraid my heirs will immediately exchange this gold for paper currency units, having no idea or care of the gold’s importance. The solution is education, but how could I force this on my heirs before they get their hands on the gold?
He is afraid for good reason. He knows this because they are not yet buying gold coins.
He should tell them that they will inherit coins, but only on an ounce-for-ounce basis. Any coins that each heir might have inherited will be forfeited to a charity. The executor will be instructed to verify that each heir has coins or an equivalent quantity of gold bullion. In short, they earn the inheritance.