AAYN Episode 39: 1994 American Gold Eagle One Oz Ounce, Gold Bullion Discussion

[ohdaysoo]

If the government decided to confiscate gold bullion again, how would they do it?

Would they get access to the sales records of gold dealers?

[AAYNumismatists]

They would simply make it a prosecutible offense to own any more than a certain amount of non-jewelry, non-numismatically significant gold.

They would likely tag the price of gold to an amount significantly higher than the current price as an incentive for the public to sell their gold to the government. The government would not simply take you gold... but you would essentially be forced to sell it to the government

[pkimrey]

if you had to choose between have 1 GAE or 1 Buffalo which would you choose?

[AAYNumismatists]

The Buffalo is generally more popular because it is much more pure.

[Joker0911PL]

Beautyful coin!!! Gold price will go up soon.

[JOConnor100]

If the government confiscated gold the dollar would crash to zero. That being said gold was confiscated to steal wealth from the common person and give it to the elite. Today hardly anyone even owns any gold in the U.S. other than a little jewelry. Dealers use the ploy of gold confiscation to con people into buying over priced gold coins.

[AAYNumismatists]

The government has done it before, so it's certainly possible it could happen again.

[flagshipaudio]

@AAYNumismatists

but if the gov wants everyone to sell there gold to them and they pay much higher at the time current price /oz .. what happens to gold prices 3-6 months later? Sky rockets or drops down to lower price then before? that is the million $ question?

[samsontiger1]

gordjess coin. looks like you spent hours polishing it, I think I'd pay 3,000 for it.

[AAYNumismatists]

Never polish coins! It diminishes their numismatic value.