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Will US coins be the exception to confiscation?

Avalon

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I used to think that was a moot point. Now after watching the US confiscate Russian assets worldwide I am beginning to wonder if Sinclair, Rick Rule, Bill Holder and Lynette are all correct on the issue.

 

Fatboy

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There are good points made about fractional usage, recognized small sizes, etc., BUT regarding confiscation, it also says.... "He believes this will eventually occur and gold/silver not issued by the US Mint will be “illegal” to hold or trade."

I might wonder if anything the mint produced as coinage (not sold as a collectable) remains theirs and they could recall it.

Who knows?
 

chrisflhtc

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Confiscate what?
 

chris_is_here

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I used to think that was a moot point. Now after watching the US confiscate Russian assets worldwide I am beginning to wonder if Sinclair, Rick Rule, Bill Holder and Lynette are all correct on the issue.

It's already started. The US and NATO are on a rampage to punish any retail investors that dare to hold Russian securities. US and Euro investment brokerages have refused to execute orders in any Russian securities. Retail investors that invested in Russian ADR's are now holding completely illiquid assets. Worse still, these companies (most of whom have no political affiliations) are being crushed by the sanctions, so their cash flow, debt and CAPEX are being adversely effected. If you are invested in these companies, all you can do is watch helplessly on the sidelines as the value fo your investment is reduced to pennies on the dollar. All this so we continue to prop up Zelenski and his crooked globalist cabal regime.

Meanwhile, in other news, Hunter still has not been charged and Paul Pelosi continues to crush it on the stock market, even as the markets continue to dive and retail investors take it on the chin.

Tell me we are not heading for a civil war and I'll tell you to hold my beer as I head out to buy more ammo.
 

<SLV>

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I might wonder if anything the mint produced as coinage (not sold as a collectable) remains theirs and they could recall it.

Who knows?
I do. I received correspondence from the Chief Counsel of the US Mint stating clearly that all circulation coinage issued by the Mint remains the property of the US Treasury, and the bearer of those coins is only entitled to the value they convey (face value).

There is some historical precedent for antique coins being deemed "collectibles." This argues strongly for St. Gaudens. However, I have chosen GAEs for premiums and liquidity.
 

EO 11110

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i prefer to buy pm that conform to the coinage act specs. bullion falls under commodity regulations

 

Avalon

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So what is the answer? :( Is it worthwhile to exchange maples and krugerrands for Eagles? It would not be pretty but is it a wise move?
 

Casey Jones

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If we get to where searches and confiscation are the rule...it will be time to bury the PMs, no matter the form, anyway.

Because trade will be constrained. Because it's the chaos of war - where PMs have no immediate value.

I frankly cannot see them making the distinction. They may offer to BUY Treasury coins - for face value. While just simply impounding krugerrands and other bullion coins. Little comfort, when you get $20 for a gold piece, in FRN fiat.
 

Avalon

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If we get to where searches and confiscation are the rule...it will be time to bury the PMs, no matter the form, anyway.

Because trade will be constrained. Because it's the chaos of war - where PMs have no immediate value.

I frankly cannot see them making the distinction. They may offer to BUY Treasury coins - for face value. While just simply impounding krugerrands and other bullion coins. Little comfort, when you get $20 for a gold piece, in FRN fiat.
It makes one question the wisdom of buying online
 

Ebie

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If we get to where searches and confiscation are the rule...it will be time to bury the PMs, no matter the form, anyway.

Because trade will be constrained. Because it's the chaos of war - where PMs have no immediate value.

I frankly cannot see them making the distinction. They may offer to BUY Treasury coins - for face value. While just simply impounding krugerrands and other bullion coins. Little comfort, when you get $20 for a gold piece, in FRN fiat.
They own everything, in practical fact:
Land, yellow nuggets in the ground, and houses.
(If they want to...)
 

BackwardsEngineeer

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Avalon,
Don't sweat it... just keep on keeping on...
All of these conversations create the illusion of ability to avoid the wave... to quote woo who dude, all any of these can do is give you an edge, some time to catch your breath prior to responding...
 

ZZZZZ

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Confiscation would be an act of final desperation and admission that TPTB have been lying to We The People for 100+ years: that precious metals as money are not a "barbarous relic."
.
.
 

Avalon

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Avalon,
Don't sweat it... just keep on keeping on...
All of these conversations create the illusion of ability to avoid the wave... to quote woo who dude, all any of these can do is give you an edge, some time to catch your breath prior to responding...
Did you catch his show last night? I had to support Janine on her new channel. I have days I think she is crazy but love her spirit.
 

Treasure Searcher

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Any form of physical gold or silver, will not be worthless. Even by government decree. Its still physical gold or silver and the black market will accept it for barter or payment. Many governments have tried to control physical gold and silver to their likening and those initiatives have failed.
 

Fatboy

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I do. I received correspondence from the Chief Counsel of the US Mint stating clearly that all circulation coinage issued by the Mint remains the property of the US Treasury, and the bearer of those coins is only entitled to the value they convey (face value).
I knew that. I remember reading about when you were going through/went through your ordeal.

Same thing goes for those collecting nickels.

I also remember reading about the different tax consequences that are due upon the sale of different items.

Thankfully, none of us will ever sell!
 

viking

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It makes one question the wisdom of buying online

You should be more worried about anti-hoarding laws.

They will be coming for your gigantic stash of Tampons, especially since you bought online.
 

Avalon

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You don't own anything it's a moot point.
It may end up that way. I would rather sit on a street corner hand all my money to the homeless than let the government steal it.
 

Avalon

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You should be more worried about anti-hoarding laws.

They will be coming for your gigantic stash of Tampons, especially since you bought online.
those have been distributed already :) I am no longer in possession.
 

EO 11110

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So what is the answer? :( Is it worthwhile to exchange maples and krugerrands for Eagles? It would not be pretty but is it a wise move?
i'm not exchanging bullion for coin - comfortable with a mix. if i was all bullion i might try to diversify some - if the prices are close
 

Lancers32

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It may end up that way. I would rather sit on a street corner hand all my money to the homeless than let the government steal it.

Local dealer was always the best option. Those days are long gone. Unless you're lucky enough to find one.
 

Buck

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if it says United States of America, it doesn't belong to you or me...even though We ARE the People referenced in the Constitution, we're no longer on that standard

i'd suggest you collect a bit of everything to mitigate the risks that will certainly come along, imho, don't swap any particular pm's for any other type of pm's


it would be a wiser idea to simply add more of what you don't have....
 

Avalon

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Local dealer was always the best option. Those days are long gone. Unless you're lucky enough to find one.
Im ok with the guy on Peace Street in Raleigh. I have done business several times with him. He is an old timer. Not like my deceased LCD but ok.
 

SongSungAU

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Who is to say that just because something was or wasn't confiscated at a previous time, that the same rules will play out the next time? They can change the rules on a whim and confiscate anything. Or at least try.
 

ZZZZZ

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The current market value of all the gold and silver coins held in the US is negligible compared to just this year's $6,000,000,000,000 Federal Government spending.

Not even on the radar compared to the $32,000,000,000,000 national debt.

And I'd guess not even half of We The People would voluntarily comply.
.
.
 

Goldhedge

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If we get to where searches and confiscation are the rule...it will be time to bury the PMs, no matter the form, anyway.
In 1500 years someone will be poking around the rubble of civilization and find the stash and everyone will wonder what civilization was this? Like as happens over in jolly ol' UK when they uncover a pile of gold coins out in some cow pasture.
 

Avalon

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The current market value of all the gold and silver coins held in the US is negligible compared to just this year's $6,000,000,000,000 Federal Government spending.

Not even on the radar compared to the $32,000,000,000,000 national debt.

And I'd guess not even half of We The People would voluntarily comply.
.
.
thats the problem.. with online sales they know what you got.
 

Avalon

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Who is to say that just because something was or wasn't confiscated at a previous time, that the same rules will play out the next time? They can change the rules on a whim and confiscate anything. Or at least try.
this is very true.. Once thing I learned about TBPTB is you beat them at their own game they simply change the rules.
 

Barrettone

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Repeat after me:

"What gold and silver?"

Lather, rinse, repeat, then continue trading within your small group that you have "hopefully" already established.

Meat, poultry, vegetables, eggs, milk, cheese, butter, sugar and security. A group of 8-10 families can do it all if organized properly and values are agreed upon prior.
 

Mujahid

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So what is the answer? :( Is it worthwhile to exchange maples and krugerrands for Eagles? It would not be pretty but is it a wise move?

Don’t worry about what the law says. The laws can always change; they can be enforced or they can be ignored.

Might makes right regardless of what words on a piece of paper says…. If they want your gold they will try to take it. Be prepared to not let them find it and if necessary take things to stage 2.

I think we are at the point where the government has very little legitimacy anyway.
 

rte

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thats the problem.. with online sales they know what you got.
I've always wondered about that.
I used to buy a lot of stuff for other people that didn't have an eBay account or a credit card.
If they come look at my past buying history, its all over the place and I'd say half of those things were for other people.
Same went for selling items years ago.
I'd sell things for a few friends that didn't do eBay.
I'd have no way to prove otherwise other than that I say it's so.
It wasn't a lot, so probably not on anyone's radar.
 
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rte

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Don’t worry about what the law says. The laws can always change; they can be enforced or they can be ignored.

I think we are at the point where the government has very little legitimacy anyway.

I Had to give that a LIKE.
Now I'm probably on some sort of list.
 

chris_is_here

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Confiscation would be an act of final desperation and admission that TPTB have been lying to We The People for 100+ years: that precious metals as money are not a "barbarous relic."
.
.
It wouldn't be the first time they did. FD Rosenfeld did it in 1933.
 

Goldbrix

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So what is the answer? :( Is it worthwhile to exchange maples and krugerrands for Eagles? It would not be pretty but is it a wise move?
If it worries you then the answer is : YES.
 

Goldbrix

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It wouldn't be the first time they did. FD Rosenfeld did it in 1933.
Back then the gold coinage was confiscate-able as gold coins were the legal tender. After FDR '33 E.O. gold was no longer legal tender. Nixon helped by doing the same for silver in the 60s.
Any former .gov coinage now is Historic specie and not confiscate-able.
Non-Gov. Bullion is what is debatable for confiscation now.
Doubt .gov will go house to house searching as it won't be financial worth the trouble.
 

ZZZZZ

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It wouldn't be the first time they did. FD Rosenfeld did it in 1933.

Back then "the dollar" was backed by gold and silver. Today, the FRN is back by nothing but electrons.
.
.
 

Goldbrix

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Back then "the dollar" was backed by gold and silver. Today, the FRN is back by nothing but electrons.
.
.
Well, Guns Too......For Now.
 

mnmom

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I've always felt it would be far more likely to confiscate ira and retirement accounts. After all they really only need the help of a few big brokerages and some key strokes to do it.

The excuse would be social security can't pay those frail elderly anymore we have to do something to help. Not that we would believe them anyway but no one in Washington listens to us either.