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re: Gonna buy my first gold coin today
Posted on 9/7/13 at 8:08 am to Blakely Bimbo
Posted on 9/7/13 at 8:08 am to Blakely Bimbo
be careful. the government still claims ownership of that gold and could confiscate it if the right person in authority decided to do it. there was a recent case where a family discovered some gold hidden by their father or grandfather during the confiscation years. they took it to the government for some reason to get it assessed and the government decided to seize the gold. I will go look for the article
2
Posted on 9/7/13 at 10:36 am to WikiTiger
quote:*sigh*
be careful. the government still claims ownership of that gold
Wiki, why are you so willfully ignorant?
Public Law 93-373 legalizing of ownership of gold in the U.S. was passed and signed by President Ford and went into effect on December 31, 1974. The law "permits United States citizens to purchase, hold, sell, or otherwise deal with gold in the United States or abroad."
"Citizens" has been defined to include corporations and commercial banks.
Don't believe wiki when he posts his usual paranoia-filled lies
This post was edited on 9/7/13 at 10:40 am
Posted on 9/8/13 at 2:22 pm to WikiTiger
quote:
be careful. the government still claims ownership of that gold and could confiscate it if the right person in authority decided to do it. there was a recent case where a family discovered some gold hidden by their father or grandfather during the confiscation years. they took it to the government for some reason to get it assessed and the government decided to seize the gold. I will go look for the article
Wiki, that case IIRC correctly had special circumstances. I think it had something to do with the Mint.
My grandpa only held back a small amount and he told me that it was allowed. He considered himself a patriotic American, but he was also worried that he would not be able to convert to paper when he needed money to take care of his family.
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