The physical part is an understandable perspective.  But, what value does gold really have?  If the endgame is a SHTF scenario lead is far more valuable than gold.  You can't feed gold or silver to your children.  If grain is scarce I'm not trading any of mine for your precious metals. 

If the shit never does hit the fan, and in the current global socioeconomic climate value is subjective, and gold is no more impressive than a paper wallet.  It wouldn't be any more bizarre to trade bird's heads for tulip bulbs if we lived in a society that put value on those items.

A diverse investment portfolio is the most practical approach.