collector gold and potential confiscation

[El Dios De la Plata]

I've always bought bullion, almost always Canadian. Eagles and other 22 karat or lower coins, bars etc. never appealed to me. I think it's ironic that the eagle often command higher premiums for what I consider an inferior product. I've never worried about a re-enactment of 1933 and a corrupt freak like Roosevelt
confiscating gold only to sell it back at a premium later. But there are those who like to buy pre-1933 coins because there were categories of confiscation exemption built into these laws made almost a century ago in the USA. Who is to say those ancient perversions can't be amended to include all gold and all forms of silver, from any time or country?

A salesperson from a high profile dealer called today to try and sell me some rare collectables that carry outlandish premiums, on the basis that these coins are illegal to confiscate. Playing on fears I don't have. There is obviously a market for graded rare coins. But how can that compare to the near-instant liquidity of
generic pure bullion? If there is a situation where we have to barter with gold to live, I'm not so sure someone will require some French sovereign minted in 1790.

I'm just puking out what I let the sales person spew. If I had an extra billion of our dying dollars laying around I might pay the astonishing premiums to get a few ancient coins, but I don't.

I guess, if there's a question here at all, it would be something like, does it make sense, if you are into gold like presumably we all are, should you "diversify"
your physical and get some of this exotic?

[maxwellsilverhammer]

some collectibles appreciate in value at a good rate, however, as you know the market is tiny when you need to sell it. for that reason i will not pay these heavy premiums. i like to stack for practical reasons. i do buy pre 33 gold if i can get it ungraded at a nominal premium. those i will hold onto till the end to pass onto my kids/grandkids. the other gold and silver is mostly what i could get as close to spot at the time and the more generic stuff is set aside specifically for trading on the gsr trade times as they come around every 5 - 10 years or so to increase the overall holdings. i have not been able to do any gsr trades for a few years though because well, just because i either missed the ratios or the timing just did not arouse my instincts.

[digbird]

Vanilla vanilla vanilla everyday, sometimes I want strawberry and will opt for a numi collector gold piece.

Some of the older Numi gold coins I have I paid a premium for many years ago. The price of gold has gone up a heck of a lot since those days that even if I sold them today at spot, I'd still make a healthy profit.

Everybody has a different way of collecting, but please don't try and set the rules...cuz..there ain't any.

[golditiki2]

Vanilla vanilla vanilla everyday, sometimes I want strawberry and will opt for a numi collector gold piece.

Some of the older Numi gold coins I have I paid a premium for many years ago. The price of gold has gone up a heck of a lot since those days that even if I sold them today at spot, I'd still make a healthy profit.

Everybody has a different way of collecting, but please don't try and set the rules...cuz..there ain't any.

I remember when living in France under the socialist Mitterrand, i do not remember the exact year, but They ruled that one could only hold goldcoins from before a certain date, i don't remember anymore if it was 1945 or what year, but anyway there was quite an upheaval and smuggling of gold out of the country and also swaps with other countries, newer gold against ol gold... The law was later abolished, but it means that not only the US did tricls.

Our democraties who teach contract morality to others areready when they think it is opportune to invent whatever reason to negate their own rules.

I am waiting to see what reason they will invent to stave contract breach in general, they must be mulling such a set up because they are over their nostrils in debt ( college debts, mortgage debts , municipal debts etc. ) and have to find a way to blow up that mountain, but there is the rule that a contrat only can renegociated when both parties agree to renegociate.

They can of course hit PMs they do it already by instoring taxes on sales. I found out that nowadays in France there is a 11.5 tax on the sales of gold, a tax which formerly did not exist. This is a French tax, not valid in all eu countries.

My father used to say that the government takes the money it needs from where it can lay hands on, right or wrong. So i would not be wondering the governments would activate procedures which hamper holding of gold ( silver is already taxed in most european countries, but not all ).

However i think it would be difficult to confiscate gold, it would hurt the right of possession which is one of our fundamental rights ( maybe not in the US, but here yes), so burden the holding of PMs is possible and done more and more, so one has to take into consideration that higher taxes might be levied on PMs.

The backpack of the devil is never full enough my father used to say.

Golditiki2+++

[Lawrence]

I suspicion most gold, bought without an accounting record, will simply vanish underground. Gold bought on-line leaves a trail the blind could follow...

[LongDonSilver]

If the government comes for your PM, then we've got bigger problems than protecting your wealth. I for one would rather drop my PM into a deep lake or sent it to the dump rather than turn it in. Until the very second it becomes illegal to possess you can dispose of it any way that's legal at that moment. What can they do to you, take away your birthday?

[Lawrence]

If the government comes for your PM, then we've got bigger problems than protecting your wealth. I for one would rather drop my PM into a deep lake or sent it to the dump rather than turn it in. Until the very second it becomes illegal to possess you can dispose of it any way that's legal at that moment. What can they do to you, take away your birthday?

I hope not, I don't think I have that many left...LOL

[insidedealer]

I've always bought bullion, almost always Canadian. Eagles and other 22 karat or lower coins, bars etc. never appealed to me. I think it's ironic that the eagle often command higher premiums for what I consider an inferior product. I've never worried about a re-enactment of 1933 and a corrupt freak like Roosevelt
confiscating gold only to sell it back at a premium later. But there are those who like to buy pre-1933 coins because there were categories of confiscation exemption built into these laws made almost a century ago in the USA. Who is to say those ancient perversions can't be amended to include all gold and all forms of silver, from any time or country?

A salesperson from a high profile dealer called today to try and sell me some rare collectables that carry outlandish premiums, on the basis that these coins are illegal to confiscate. Playing on fears I don't have. There is obviously a market for graded rare coins. But how can that compare to the near-instant liquidity of
generic pure bullion? If there is a situation where we have to barter with gold to live, I'm not so sure someone will require some French sovereign minted in 1790.

I'm just puking out what I let the sales person spew. If I had an extra billion of our dying dollars laying around I might pay the astonishing premiums to get a few ancient coins, but I don't.

I guess, if there's a question here at all, it would be something like, does it make sense, if you are into gold like presumably we all are, should you "diversify"
your physical and get some of this exotic?

The confiscation of gold in the USA was the law, but it had little effect. Few citizens turned in their gold. Even those few who did had US gold coins to turn in, and these were and are still considered numismatic. I think perhaps it was the conversation with the bull **** salesman trying to foist French 20 franc probably rooster gold coins as a way to avoid confiscation, if it comes again. It's true, these coins are good for that purpose. But the price you pay for these coins should be reasonable, like 10% over spot, or an extra $40-50 per coin over the gold value. The problem is that these telemarketer types charge hundreds of dollars per coin extra. This is nothing new, this exact sales pitch has been around for at least 40 years.
Ironically, in 1933 the US stopped producing gold coins and gold certificate fiat paper. If held to today, the fiat paper certificate has appreciated more than the gold, much more. A nice example of a $10 or $20, gold certificate is worth over $5000.

[Freedom]

I was blessed with an LCS owner who liked my regular business and enjoyed our conversations so much that he sold me US gold coins for only $5 over spot price, rather than shipping them off to larger dealers, he sold to me at same premium they were paying him. I purchased Modern commemoratives and pre-33 coins at same low price (obviously, no rare ones included at that price). Did you know the old $5.00 gold coins fit perfectly in clear plastic Nickle Tubes? So cool to have full tubes of gold coins! Got a nice heft to them...makes me smile!

BTW, There will never again be a gold confiscation law enacted in the US...Didnt you get the memo?
Gold is an old archaic useless metal...Nobody wants gold, everyone wants bitcoins now...gold is kaput! Finished! Obsolete!

[SnakeEater]

When Banks print counterfeit fiat to buy Gold, not only it is a heist and confiscation on daily basis, everything is being confiscated by fiat.

They offer nothing but only printing digits to "buy" is not actual buy but heist/theft/confiscation where everyone feel that using counterfeit money has been a new normal since Nazi won the wars hundred years ago.