gold coins and gold bullion coins

gold coins and gold bullion coins

Post by Robert J. O'Har » Mon, 13 May 1996 04:00:00



I have read that there is still a US law on the books that would permit
confiscation of personally owned gold bullion in the event of a national
emergency (as was done by Roosevelt in the 1930s), but that the
collectible gold coins we collectors own are exempt from this law.  I've
never bought a gold bullion coin (as opposed to a collectible coin), but
am curious to know if the government actually requires people to
register the bullion they buy.  I suppose I could just go out and buy a
bullion coin to find out the answer, but that's an expensive way to
satisfy my curiosity.  :)  What is to prevent a person from "collecting"
Krugerrands, Maple Leafs, etc., and claim they are for a collection
rather than for bullion investing?  And one might be able to claim this
honestly: surely one might want to make a numismatic collection of
bullion coins of different dates from different countries.

(Apologies if this is a faq; I'll gladly accept a pointer to a faq file
with the answer if one exists.)

Bob O'Hara

 
 
 

gold coins and gold bullion coins

Post by AnswerMa » Tue, 14 May 1996 04:00:00


Hi Bob:

Somewhere you got hold of a very, very bad rumor. There is no such law on
the books and no likelyhood of there ever being such a law. Gold coins
(and bullion) are perfectly legitimate collectibles - although lousy
investments. In 1933 the government could more or less control the gold
market. Today that's impossible. If you are skeptical, consider the fact
that the gold ban recovered only a small fraction of the gold then in
circulation.

Alan

Alan Herbert - Contributing Editor, Numismatic Products - Krause
Publications, Inc.
"The world's largest hobby publisher"


 
 
 

gold coins and gold bullion coins

Post by Nathan Krawi » Sat, 18 May 1996 04:00:00


There was a law at one time, but is was revoked.  U. S. bullion
started being made after we boycotted South Africa, which included
Krugerrands.

 
 
 

gold coins and gold bullion coins

Post by John Ston » Sat, 18 May 1996 04:00:00


Quote:

>There was a law at one time, but is was revoked.  U. S. bullion
>started being made after we boycotted South Africa, which included
>Krugerrands.

The Krugerrands are selling cheaper than other gold coins, I
think there is still a stigma attached to them. John S.