In a couple of years, my child will go to college. I want to save up some money for that time. I need to store that money in something that will preserve some value even after 5-10 years.
Therefore I want to buy a small quantity of gold (for 400--500 Euros) each month and store them in a deposit box in a bank.
What are effective ways to buy gold in Europe, especially Austria?
What I found so far:
I looked at GoldMoney.com because it was endorsed by Peter Schiff as the easiest way to buy gold. However, the amount of sensitive data they ask you to open an account is tremendous. They want to know everything about you, as if they were the Gestapo.
I am not paranoid and have little concern with privacy, but even for me this was too much. The company seems to be located in Canada, hence European privacy regulations don't apply there.
I also have little trust in their ability to maintain a complex software system because their web interface looks like it was designed 15-20 years ago. Maybe their backend is better, but who knows?
Small gold bars
There are also gold bars you can buy for about 450 Euros on Amazon, like this one. That's actually a viable option.
The only thing that bothers me is their markup: This particular gold bar is sold at 455 Euros. That's 10 grams of gold. The market price of that same amount is 374 Euros according to Gold.de: