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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Jamey who wrote (96723)	12/12/2003 8:08:58 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116947

Hi, James, First of all, the dealer that told you that did NOT tell you the whole story. In some circles, that is considered sin of ommission, venial maybe, but sin nevertheless<grin> Numismatic items were included originally in the confiscatory edict by Roosevelt. Within 11 days if memory serves me correctly there on the number of days, there was such a hue and cry from all the yeowling, it was heard all the way to Washington DC., and the an executive order exempting numismatics was created, and signed into law. I have been told personally by someone who is on Alan Greenspan's short list that AG is NOT concerned in the slightest with the amount of placer gold one has in ones possession. It is the assayed coins/bars/ingots/tokens that are hoarded which gets his knickers in a twist. This AG/my friend's conversation was relayed to me as the result of the hoarding that occured prior to Y2K. So, for me to speculate on what the government might consider this time, I would suggest the following scenario: A) History would be examined by whitehouse legal counsel. B) Slabbed coinage reports would be surveyed and numbers extrapolated to calculate the number of numismatics that would be affected by existing exemption language prior to the signage of the executive act by Nixon in 71 allowing American's to once again privately own gold. C) Mintage numbers of US Eagle Series would be studied and a decision made as to whether or not these qualify as numismatics. (I've always maintained that the rarity of minted numbers in some of the Eagles, especially certain fractionals, are lower than pre-1933 issues, and that the govt has been minting numismatic collectibles for several years) D) The politics of who would be hurt by confiscation would be quantified. E) I suspect that a numerical threshhold would be kicked about, say xyz numismatics are exempt, and anything over ABC would be required to be reported, and any sale be also reported as a taxable event. F) Note that all this has been accomplished by Executive Order. G) Since I think Bush Administration is not dumb, I suspect a series of presidential orders, (a form of executive order) has already been constructed in the event of this nation needing gold for whatever reason. H) Probably our numismatic ace is the following: I believe our nation would be reluctant to attempt to confiscate/prevent ownership of gold when that is what our enemy has geared up for and is continuing to increase mintage of, vis a vis the Dinar, both in 1oz and 10th and 1/4 oz sizes. Doesn't make sense that our enemy is permitted to have something we citizens aren't permitted. Those are my thoughts without too much brain strain. Spend some time getting ahold of information that CHANGES GOLD'S FORM...obviously bullion into numismatics has been one venue sold the public due to our history. That is one venue. I would highly suspect that if a "confiscation" policy were to be attempted against our own people--again, that the compromise would be to permit exchange of physical for electronic gold or paper gold, something easily trackable and taxable events due to selling or taking losses. In the meantime, the placer gold lovers have no such assurances at the present time. To go into what was required of all raw gold holders in that era is a WHOLE nuther matter...didn't matter whether they were mining companies or individuals, but at least they didn't go to jail, and were granted standard time frames to comply and 11 central assay offices to work with. That system beats the heck out of gestapo tactics, waiting for the dreaded call from a bank manager of one's bank, setting the appointment with you and the IRS regional rep monitored by the bank personnel. And then there is the whole question of gold jewelry, whether old/new/heirloom/and definitions of which of those is which<grin> Have a good weekend. The