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re: Just dumped some cash and bought gold, good or bad?
Posted on 8/16/14 at 12:49 am to Volvagia
Posted on 8/16/14 at 12:49 am to Volvagia
quote:
Well, maybe I am mistaken.....what makes you think that something being legal tender protects it from possible confiscation?
In the past when gold was confiscated any gold coins that were minted prior to 1933 were exempt because they were considered collectables. If the government does declare all gold is subject to confiscation it would really make you wonder why would it not? I mean after all US currency is king right? you would not want that stinky old gold.
1
Posted on 8/16/14 at 1:05 am to JoeMoTiger
quote:
In the past when gold was confiscated any gold coins that were minted prior to 1933 were exempt because they were considered collectables.
All gold was made illegal to own by private citizens, including minted coins.
You are far expanding a provision they held for collectables.
It was good for up to 100 dollars value of coin per person. Not all coins period.
A number of US coins from that era are actually some of the rarest in existence due to the confiscation/destruction.
This post was edited on 8/16/14 at 1:06 am
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