Gold confiscation facts and fiction

I hear often "buy numismatic coins, they are exempt if the gold confiscation act is reinstated." The only coins defined by law as numismatic are post 1985 American Eagles. But the gold confiscation act does not even use the word "numismatic!" The exemption for collectible coins was nebulous. For example, British Sovereigns were exempt. Basically the law was like most laws, a cloud of uncertainty with loopholes and subject to change, while being arbitrarily enforced. Many people held their gold at their homes, nobody came door-to-door to collect it.

Category:

News & Politics

Tags:

• gold
• confiscation
• numismatic

[TadRapidly]

How about gold buffalos? Also currently listed as numismatic?

[silverfuturist]

@TadRapidly excellent question, I will have to look into.

[50plussilver]

Don't worry, All you need is a blow torch and your bullion is now gold nuggets and can be considered exempt. The law stated that gold coin, gold bullion and gold certificates would be confiscated. Not gold nuggets,gold jewelry, gold art etc. Don't worry be happy, and have a good torch and a crucible handy.

[silverfuturist]

Lol, great idea. Make your own jewelry! The melting point of gold is 1947.9741 °F so it might require a strong torch.

[redhotbits]

2:12 lol! you're the man :)

[Joe11Blue]

Of course they didn't go to people's houses then. They knew they would get shot. Support your 2nd Amendment, and prevent them from doing such in the future.

[mrdbaghater]

I think lead will be the metal of choice if the poo hits the fan.

[lilbromarky1]

Very informative video thank you

[penguinistas]

Regarding the gold confiscation, citizens received $20 an ounce when they turned their gold in but just a few months later after all the gold had been turned in, FDR and the Fed changed the rate to $35 an ounce. So anyone foolish enough to turn in their gold lost 42% of the value of their money overnight.

FDR was a crook.

[TheCashistrash]

eagles gold and silver are non reportable unless its over 5000.00 dollars. the fact is the metal itself for eagles is non reportable except transactions over 5000.00 dollars are.

[LibertaerUeberAlles]

WINSTON CHURCHILL

"Germany's unforgivable crime before the second world war," Churchill said," was her attempt to extricate her economic power from the world's trading system and to create her own exchange mechanism which would deny world finance its opportunity to profit." (Churchill to Lord Robert Boothby, quoted in the Foreword, 2nd Ed. Sydney Rogerson, 'Propaganda in the Next War' 2001, orig. 1938.)

Support Ron Paul's HR 4248, Free Competition in Currency Act !!!

[sampainter]

Good. Are you buying or selling? If you are buying, don't you want it cheap?