This is a lesson some learn the hard way. Even in March 2020 the market for the two was drastically different. In a full economic collapse an exchange to trade in paper may be inaccessible, it may be confiscated by the government for the “national interest”, or the paper deemed flat out worthless if there’s fuckery by whoever is holding the metal.
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Usually. But when push comes to shove, governments have a habit of declaring it to be theirs. The US government has even done this in the past. At that point your ability to own it is linked to your ability to conceal it.