What Kind of Gold Cannot Be Confiscated?
There are numerous dealers claiming their gold coins can’t be confiscated, often using high pressure sales tactics and false scare tactics to induce buyers. Most of the time these dealers simply sell old European coins at exorbitant markups which have no numismatic value whatsoever.
What Kind of Gold Can’t Be Confiscated?
Gold confiscation is an ever-present fear among retail bullion buyers. After all, it would be devastating if your protective buffer from gold ownership were suddenly taken away by government institutions who you had relied upon to protect your assets from an economic downturn.
Fears surrounding gold confiscation have roots in history – at least, in terms of President Franklin D. Roosevelt’s Executive Order 6102 that required Americans to turn in their gold coins and bullion – yet some modern-day myths about its confiscation persist despite such facts; some dealers take advantage of false information to generate extra profits by propagating misconceptions regarding confiscation myths that continue today.
Modern confiscation myths most often involve the idea that certain forms of old collectable gold cannot be confiscated due to President Roosevelt’s Executive Order which exempted “gold coins having recognized special value to collectors of rare and unusual coins” from being confiscated.
Gold coins are an increasingly popular form of bullion that many investors invest in as a hedge against financial instability. Although some fear the government might confiscate bars or coins, these fears are generally unfounded as such action would create more anxiety among investors and push them away from investing. Furthermore, governments also have other means at their disposal beyond nationalization of bullion; including restrictions on private ownership of bullion as well as tax-free exchanges for selling bullion privately owned.
While government has confiscated gold in the past, this trend is unlikely to return in our current society. Most countries have moved away from using a gold standard currency and instead utilize fiat currencies that can be printed as needed without needing to seize private assets. Furthermore, today’s citizens are much more aware of their rights to private property than previous generations were and would actively resist any attempt at interference with those rights.
However, some precious metals distributors still employ high pressure sales tactics in an attempt to sell more premium “collectable” coins at higher premium prices than they deserve. Many distributors make false claims designed to scare investors into purchasing their products and this often occurs without their knowledge.
Gold bullion is typically held by central banks or private investors. While governments can access this asset during times of crisis, they also employ various tools besides outright confiscation such as currency printing, capital controls or digital currencies – the world monetary systems have come a long way since a century ago!
Not impossible that gold confiscation could reoccur, though circumstances would need to be dire in order for it to happen today. With most countries no longer using the gold standard as their standard of currency, fewer reasons exist for governments to seize citizens’ gold assets – but still investors should diversify their precious metal holdings, store them safely in secure locations, and stay informed of legal or political developments that could impact future gold ownership as preventative measures against government intervention and loss of valuable assets.
Jewelry is a broad category of metalwork and ornamentation. This category encompasses objects made of precious materials like gold, silver, and platinum as well as precious gems like diamonds, rubies, emeralds and semiprecious stones such as chrysoberyl and topaz.
The notion that jewelry cannot be confiscated stems from Roosevelt’s 1933 Executive Order which exempted “gold coins having special value to collectors of rare and unusual coins”. Telemarketers take advantage of this belief to sell expensive coins more easily.
Though gold confiscations in the US hasn’t happened for some time, many remain worried. Their anxieties are compounded by conspiracy theories and high pressure sales tactics employed by bullion distributors. The best way to safeguard your investments against confiscation is diversifying them across various forms such as bullion coins or gold-backed exchange-traded funds.
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