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<p>[QUOTE=&quot;Boxeldercoin, post: 1242245, member: 28494&quot;]Sorry to say but the answer is YES! I have doing some research for my coin club and found out that the goverment can take your gold and silver coins. Some people think they are exempt because they are numismatic items under regulation 26 CFR 1.6045-1 on page 647-648 of the Federal Register, Vol. 49, No.3 of 1/5/1984.&nbsp; The kicker is this regulation was NEVER PASSED! The law does not exist. The bottom line is that your gold coins and silver dollars do not legally qualify as numismatic coins.&nbsp; IRS regulation (26 CFR 1.6045-1) does not include anything about numismatic coins.&nbsp;&nbsp; And as far as reporting purchases of gold or silver to the&nbsp; goverment must be reported under Revenue Procedure 92-103, lots of 25 or more of Krugerrands, Maple Leaves, or Mexican Onzas, kilo gold bars, 100 ounce gold bars, 1,000 ounce silver bars, $5,000 face value of 90% silver coins, 50 ounce of platinum, and 100 ounce of palladium. So when a coin dealer tells you that the goverment can&#039;t take your gold or silver because its a numismatic item that is not true. I do not think this would ever happen but it could if the goverment wanted to. I know I will get some bad replies for other coin talk forum members on this and if anyone out there can find the goverment statuts that prove me wrong I will be very happy and would like to know of them.&nbsp; Jim[/QUOTE]</p><p><br /></p>

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