Physical gold and gold ETFs serve different purposes. Physical gold has no management fee, no fund structure, and no direct counterparty claim when held personally. It is useful for people who want tangible monetary insurance outside the financial system.

Gold ETFs are more convenient for trading, portfolio allocation, and retirement accounts. They are easy to buy and sell, but the investor generally owns shares in a fund rather than specific coins or bars in personal possession.

A stacker who wants crisis insurance usually prioritizes physical metal. An investor who wants price exposure and liquidity may use ETFs. Many people separate the two roles: physical metal for long-term security and paper products for trading or portfolio management.