Paper Gold vs. Physical: What's your take?

• •I laid out my whole philosophy, which for me, is all about the physical stuff.
• •Nothing beats holding that actual metal in your hand, you know?
• •I just feel so much more secure knowing that it's there.

I was just chatting with a buddy of mine from my old teaching days – we both retired around the same time, right after the 2008 crash – and we got onto the topic of gold investing. I laid out my whole philosophy, which for me, is all about the physical stuff. Nothing beats holding that actual metal in your hand, you know? After seeing what happened in '08, and living through the dot-com bust a few years before that, I just don't trust promises on paper the way I trust actual gold bars or coins in my safe deposit box.

My portfolio, which is hovering around the $150k mark these days (thankfully, that gold held strong!), is almost entirely in physical gold through my Gold IRA. I just feel so much more secure knowing that it's there. He, on the other hand, is a bit more of a "paper gold" guy, thinking it's more liquid and easier to deal with. I get his point, especially for smaller amounts, but for anything substantial, aren't you just adding another layer of risk? You're trusting a third party to actually have the gold they claim to represent, and what happens if something goes seriously sideways economically? My gut tells me those paper promises might not be worth the paper they're printed on.

I mean, I live in Phoenix, and even with all the sunshine, I still feel a bit of a chill when I think about a purely digital or paper-based investment during a major economic downturn. I remember looking into those "Silver vs Stocks" comparisons on https://silvervsstocks.goldirablueprint.com/?period=10Y a while back, and it really solidified for me that long-term, tangible assets often outperform in resilience. So, for those of you who've been around the block a few times, especially after 2008 – what are your thoughts?

Are any of you still heavily into paper gold options? What's your reasoning? I'm genuinely curious if there's a perspective I'm missing that makes those products worth the perceived trade-off in security. Or is it just another way to get exposure without the storage headaches?