I have a few ounces of gold, myself. I collect old coins and such, but in no way do I regard gold as a viable hedge against any collapse of the dollar. A few ounces might keep you going a few months, so hold your gold, but don't buy it by the pound, unless you want to freeze your assets. If our society were to collapse that totally, I'm not sure you'd be able to used gold (by the ounce) to buy groceries and such or that gold would ever become the prime method of payment in such a situation. Silver would, in my opinion, be a more likely unit of exchange, and even that might be unlikely if we fell into a barter society.
Gold is, IMO, too expensive to be used as a prime method of payment. Gold, currently being valued nearly $3,000 per ounce, would have to be cut into small pieces or ground into dust.