Jim Blanchard of Jefferson Coin & Bullion refers to the confiscation in his website, and since his sales material repeats it, a 1-800 phone call could probably get your questions answered directly. Do share what you learn, because this is a vague gray area to me.
" Rare U.S. coins are a part of one of
the most unusual investment markets
you will ever encounter. In many ways,
they combine all of the advantages of
gold bullion with the added features
of the art and antiquities markets. In
other words, the value of a rare coin
is only partially based on its bullion
content; its value is primarily based
on demand from the hundreds of
thousands of investors as well as
collectors from around the world.
While they provide most of the
benefits of bullion, rare coins also
offer a number of key advantages
that bullion cannot match:
• Extremely high value in a portable, convenient and liquid form.
Not subject to broker reporting or government confiscation. In
1933, the U.S. government seized all gold bullion held by its citizens.
The right of Americans to own gold bullion was not returned for over 40 years, and in part, was accomplished through the efforts of our founder, James U. Blanchard III. Rare coins were never part of this confiscation, and those who held $10 gold pieces throughout the period, for example,found that their value had increased more than sixfold. Ominously, this law of bullion confiscation remains on the federal books, and in time of national emergency, could again rear its ugly head."
jeffinc.com
I hope the threat of confiscation is just a fear tactic, used to sell more expensive gold coins, as opposed to gold Eagles
Dr Gary North in Remnant Review suggests that there are so few gold coins out there, that perhaps as few as one percent of the US population actually owns any. I don't know if that makes us an elite or a stupid minority. Because of this he suggests that the return to a gold coin based monetary system would take quite some time.
Confiscation wouldn't accomplish much, except further angering the population, but most of the population probably wouldn't care, according to North's population numbers.
Bill Peavey |
