Except your local taxing authority.
What is to stop the government from taxing gold as a luxury item and imposing a 10% luxury tax on every ounce of gold in your possession every year?
You think your gold is safe from government interference? Read your history. The government stole everyone's gold in 1933 and gave them worthless dollars in exchange at a rate that the government determined was fair. They can do it again. And if the dollar collapses, THEY WILL DO IT AGAIN!!!
Or state agency, or federal agency, or any utility.