Hello all, As Silver American Eagles are in dollar denominations, I am curious if the U.S. government can confiscate them, not based on the coins being silver, but based on the coins being legal tender (dollars). Thanks, Cannon.
I guess the government can do almost anything but I doubt that they have the nerve to confiscate ASE. If you been watching, they can't even return the tax rate to when we actually paid for everything prior to the Bush tax cuts. On the good side, the price of gold and silver are rising at quite a rapid rate. I'm thinking that inflation is coming in 2011. The market always balances absurd fiscal policy.
Hi Cannon, I agree with Phil - they can pretty much do whatever they can get thru the political process. However, I really think the chances of them confiscating gold or silver are less than 10%. However, if you fear this, remember that in '33, they made an exception for gold coins with numismatic value. What you might do is stash your bullion in the form of a collection. Gold and silver crowns of the world, for instance. That's what I've done. Get your gold (silver) bullion coins from different countries all over the world. Make a 'collection' out of your stash. peace, rono
Doubt it. Unless China parks a few warships and demands redemption of Treasuries in Gold and Silver I wouldn't worry about it.
I doubt a confiscation will happen. However if you are worried, you wouldn't want to be keeping your coins in a bank safe deposit box. It's too easy for the gubment to order them sealed. It's a lot less likely they will start home searches in search of silver.
LOL it will take more than a few warships, maybe 10 million of their un-marriageable men. Even then behind every blade of grass....
