Gold Coins or Gold Bullion for Investing
Not only should your portfolio be diversified with gold, but you should be diversified within the gold portion of your portfolio. There are several different forms of gold you can buy for your portfolio, including gold bullion, foreign or domestic, modern gold coins, foreign or domestic or antique gold coins, foreign or domestic.
There are many options of gold withing each category that also allows you to either receive and store your own gold or allow the broker or dealer to store your gold for you. Most people that are buying gold in case of financial disaster feel that keeping your own gold is the whole point of buying gold. Those investors believe that because of the antique gold coins intrinsic and collector value that they are immune confiscation by the government.
On the other hand, gold bullion in recent history has been confiscated by the US government and there are several organizations that are trying to push legislation through that will fix that situation by not allowing the government to be able to confiscate personally owned gold bullion or coins of any kind.
Can the US government confiscate foreign gold bullion or modern foreign gold coins? Back when gold was confiscated by President Roosevelt in 1933, foreign gold and foreign gold coins “earmarked or held in trust for a recognized foreign government or foreign central bank”
This means that if we go by historical accounts, foreign gold bullion and coins would be exempt from US gold confiscation. That happened before, but the government makes laws to fit the situation. What happened before may not happen again.
Antique gold coins are pushed by many dealers and telemarketers because of the higher markup and profit margin on old gold coins. Many dealers prey on investor’s fears about the gold confiscation that Roosevelt ordered in 1933. President Ford issued his own executive order repealing the executive order that Roosevelt used to confiscate gold in 1933.
Then Congress in 1977 removed the president’s authority to regulate gold transactions during a national emergency other than war. What’s that mean? Absolutely nothing. People, especially salespeople that use historic events to sell their most profitable inventory are being disingenuous by preying on investors fears of what happened in the past. Which has nothing to do with what can happen in the future.
Just because President Roosevelt exempted antique gold coins and foreign bullion doesn’t mean a current administration would go by those same guidelines. The truth is, no one knows what will happen in the future, especially in the event of a financial collapse.
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