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COINS : The Old Coin Shop - The Experts in Numismatics coins and ...Offering US and World coins, certified coins and gold coins. Includes a library of information about US coins with images. Read full post here. (c) The Coin ShopAssisting the new collector as well as the seasoned veteran. Regular coin auctions. Read full post here. (c) Could Gold Be Confiscated Again?Investors beware, in the 1930s, economic tough times such as we face today and a need for stability in the markets caused President Roosevelt to recall all gold, confiscating it from each individual who had money invested in this precious metal. Although the order stated that collectible coins were not a part of this recall, every other type of gold that was in circulation for investment purposes was confiscated by the federal government. Many people do not realize there is a law that states that gold bullion can be confiscated in the event of a national crisis, however, there is no stipulation that all collectible coins will be safe from confiscation. More often than not, coin dealers and companies use this tactic to scare people into buying collectible gold because they feel it is safe and can't be taken away. In reality, Roosevelt's order was his alone, and didn't set some sort of precedent as to how gold could be recalled in the future. In 1974, President Ford actually repealed this order, and restored the right for all Americans to own gold. Then, in 1977, Congress took away the right of the President to control and regulate gold transactions unless there was an incidence of war.. Any other national emergencies no longer allow the President to have an authority to call in gold or confiscate it from U.S. citizens. There are no laws currently on the books to allow a gold call in or confiscation to occur, but there are also no laws preventing congress from changing that situation and reinstating it if the need arises. Therefore, it is never to be assumed that gold cannot be confiscated, or that certain types of gold are not able to be confiscated by the government. Ultimately, the government can do what they want, and that includes using the general public's gold investments to save the country from a national crisis, if they feel the need. However, the government also has no way of knowing if you actually posses any gold bullion or coins as long as you have purchased them in a private transaction. Many dealers who try to tell people that coins aren't able to be confiscated or that they have rare coins that survived the 1933 call in are basically telling an untruth. The majority of these companies get their coins from Europe and other overseas locations, which is where a lot of American collectible gold coins ended up after the call in, because the investors saw it as an advantageous move. To sum things up, there is a possibility that gold could be confiscated again, if things get bad enough in the economy. However, it's not likely to happen again, but you should never rule it out. Also, you should also never pay someone extra money for coins that are supposedly above the law, because when it comes down to it, nothing is above the law and so called non-confiscate type coins are nothing more than a marketing gimmick. Alan LeStourgeon runs a Gold Coins website where you can find lots of information on buying, selling and investing in gold coins and bullion
NAVIGATION
Collecting Numismatic Rare Coins - A Safe Investment Move
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