Good morning my new friend senor Kovar. You pose an extremely difficult question since in neither is there a clear yes or no. Each have their advantages.

Gold in hand is very good, a producer in hand is also, but remember, both are subject to Governmental decisions.

Solid gold can, and has been, confiscated by various gov'ts in times of economic distress, look no further than the well publized Gold confiscation act of the US in the thirties.

A producing Gold mine has generally been excepted and allowed to continue working since it is adding to the economy ( paying off its shareholders in the currency applicable at the time, or even physical Gold)

Your throw of the dice my friend.. Just remember to add in the advice given to you by the others.v

Don Jose de La Mancha