Amazing loophole to protect your gold from confiscation(interesting idea!)

It was the height of the Great Depression. And the U.S. government desperately needed to shore up its financial position. So in a dramatic move, it took everyone's gold.

Could it happen again? Well, put it this way: Who could have imagined it would happen the first time around?

Every day on the radio, I hear ads about buying gold as a store of wealth. But folks who held gold as a store of wealth in the Great Depression had that "wealth" confiscated by the government.

I had lunch with my longtime friend Michael Checkan on Saturday. Michael's business is called Asset Strategies International. He finds legal ways to protect and diversify your wealth. Michael told me about a neat little idea he came up with. I thought the idea was worth sharing with you...

"When the U.S. government confiscated gold back in 1933," Michael told me, "you were allowed to keep your gold jewelry. The President didn't ask for Grandma's wedding ring."

So Michael started a gold jewelry company, called First Collector's Guild. This company is different from other jewelry companies. It thinks about the gold first...

For example, each piece of First Collector's jewelry measures exactly one ounce or five ounces of gold. Most gold jewelry is 14-karats (which is only 58% pure) or 18-karats (which is 72% pure). But each First Collector's piece is 24-karat gold – which is 99.99% pure.

These pieces are, of course, jewelry... not currency.

For example, if you wanted to, you could carry 100 First Collector's necklaces out of the country, and you wouldn't run afoul of the currency laws. And then you could convert them to money at most gold dealers in the world. It's like legal gold smuggling.

Now, I don't recommend doing this on any scale. First off, you'd look like Mr. T. going through customs. And secondly, it's just not cost effective.... First Collector's jewelry is handmade and costs a premium over the price of gold. But a gold dealer will only pay you a discount to the gold price. Finally, I'm not a lawyer, but I'm sure that if you tried to bring a load of First Collector's jewelry across the border, someone would decide you're somehow breaking a law.

However, for a small portion of your gold, First Collector's jewelry is an interesting idea...
http://www.dailywealth.com/archive/2009/sep/2009_sep_23.asp I looked at the jewelry selection it looks like quality stuff! http://www.firstcollectorsguild.com/products.html

 

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The government didn't demand all gold coins at all. Coins deemed numismatic in nature were not required to be handed over, which is why we have gold coins today that aren't modern. Their deffinition of what was numismatic may differ from ours, but it saved millions of coins from being melted.
Guy~

 

Or just stick all of your coins in sealed envelopes addressed to yourself with proper postage before putting them in your safe deposit box. Then when the government opens your box, they see stamped and addressed mail and can't open it but instead must mail it... that's what I heard at least.

 

Really ?

Do you really think if the government wants to get into your safe depsit box that a stamp will stop them.
That is like a border, no one cares once they get that far.

Pep
They have already have the proceedes of gold sales by doing private leasing to wall street. Fort knox was last audited in 1954-1955.
The U.S. Dollar is backed by the productivity and technology of the American worker and small business.

 

Being technical, 18 karat gold is 75% pure and 14 karat is 58.5% pure.

 

The man is just biding his time before he comes for your gold.

He's coming, make no mistake. Hold on, someone knocking at the do...

 

I'm going to weave a suit out of slabbed coins then cover it with kevlar and then neoprene and call it my hunting outfit.

 

I wonder how many jars or cans are were buried across the U.S. and forgotten.
Many reasons for never being recovered. Alzheimers, killed, wars, you name it.

 

Nor did the President ask for your numismatic coins.

For those interested in the act itself, here it is :

http://www.the-privateer.com/1933-gold-confiscation.html

Pay particular attention to Article 4 :

"Section 4. Upon receipt of gold coin, gold bullion, or gold certificates delivered to it in accordance with Section 2 or 3, the Federal reserve bank or member bank will pay thereof an equivalent amount of any other form of coin or currency coined or issued under the laws of the Unites States."

You're concerned about los federales breaking down your door ? I'm equally concerned about being flattened by a stampeding herd of turtles.

 

Pretty nutty.