Gold Confiscation: How do You Protect Yourself?
Relevant laws exempt rare coins from the confiscation provisions. Rare coins are private and do not require the filing of information returns with the Internal Revenue Service, as does reportable bullion.
Since the Treasury Department's 1954 amendment has been repealed, and the proposed expansion of the definition of rare coins for purposes of exemption from confiscation has never been enacted into law, an investor's gold holdings should include "gold coins having a recognized special value to collectors of rare and unusual coins." The best approach for such investors is to put together collections of rare coins. Such collections offer a number of advantages, which include exemption from confiscation, aesthetic satisfaction, and significant investment returns.
The time to act is before, not after, a crisis occurs. The political process does not always deliver its best troops at the point of attack and governments pushed to the brink often ignore the constitutional niceties. In any event, if you wait until gold confiscation, currency exchange controls or any other emergency measures are taken it will be too late.
As an investor, what should you do? Put some of your savings in the ultimate crisis hedge – rare gold coins. In the event of a crisis it would be better to own numismatic gold than bullion.
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Why Rare Coins?
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