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<p>[QUOTE=&quot;starbuxinvestor, post: 1734413, member: 39708&quot;]You may find this interesting.</p><p><br /></p><p><a href="http://www.americanfederal.com/coins/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.americanfederal.com/coins/" rel="nofollow">http://www.americanfederal.com/coins/</a></p><p>Think your $20 St. Gaudens gold coins are safe from Confiscation? This particular topic is used as a scare tactic to sell you over-priced coins that do absolutely nothing to protect you and only serves to let the dealer confiscate your money. If you are concerned about confiscation, there are simple, low cost ways of protecting yourself. <b>You will be surprised which coins are safe…. US Eagles and Buffaloes are actually safe from confiscation.</b> Most dealers will claim just the opposite, but the legislation that created them clearly states they are “numismatic” coins.</p><p>The Gold Bullion Coin Act of 1985&nbsp; (Public Law 99-185 of Dec. 17, 1985, 99 Statutes At Large 1177, 31 USC 5101, 5111, 5112) provided for minting the American Eagle gold coins. Section 2(3) provides, “For purposes of section 5132(a)(1) of [Title 31], all coins minted under this subsection shall be considered to be numismatic items.”</p><p>The Liberty Coin Act of July 9, 1985 (Public Law 99-61 of 7/9/85, 99 Stat. 115, 31 USC 5112) authorized the one ounce silver coin commonly called the Silver American Eagle.&nbsp; At section 202(g) it contains identical language.</p><p>The American Eagle gold coins and the silver American Eagles are “numismatic” coins.&nbsp; (31 USC Section 5132(a)(1) requires the Secretary of the Treasury to apply proceeds from selling “numismatic” items to cost of making them.)</p><p>In addition, certain dealers maintain that coins with a premium of 15% over bullion value are also defined as numismatic. This too is false. In 1984, this was proposed but never adopted.</p><p>So if numismatic coins are exempt, the new Eagles and Buffaloes are exempt too since they are specifically defined that way.</p><p>I maintain that $20 St. Gaudens and Liberties are NOT exempt.[/QUOTE]</p><p><br /></p>

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