I highly recommend the book by Peter Schiff of Euro Pacific Capital titled "Crash Proof, How to profit from the coming economic collapse."

I agree that I'd rather invest in semi-precious metals (lead, copper) because there is greater utility to them. However, I have an IRA, too, that my employer deposits money in to whether I want it or not. I invest the money in a gold fund called Streettracks Gold Trust ETF (ticker symbol GLD). As the U.S. economy declines, the price of gold will increase. As the dollar deflates, the value of GLD stock will increase. Assuming there is not a total collapse, this will put you in a much better position down the road.

The Consumer Price Index is, what, 3% right now and rising? That's a lie. As Schiff explains in his book, real inflation is running between 10% and 12%. It's obvious to anyone who buys groceries on a regular basis that inflation ain't at no 3%. So, to protect the dollars you have now, you need to be earning at least 12%--that's just for your dollars to hold their current value.

Anyway, I've now told you more than I know. Schiff explains the ins and outs of investing in gold and the best ways to do it. You can also look up Peter Schiff on YouTube and you'll get an amusing earful. He's always the lone dissenter being interviewed, and others frequently gang up on him for his bearish prognostications, but he's always been right.