US Mint Asking For Coins Back.

This idea comes from some people trying to push pre 1933 gold coins rather than the modern bullion pieces (higher profit margin on the pre 1933's for the dealer) Their argument is that the government can recall all the modern gold bullion coins but that the pre 1933 gold coins are exempt from confiscation. This was because they were exempted in FDR's gold recall order. They conveniently ignore the fact that any new confiscation order would not have to abide by the earlier order and could even specifically target the older coins as well. But the chances of a new gold recall order ranges from very slight to non-existant. If they did want to confiscate valuables they could target about anything, gold, silver platinum, diamonds etc.

During the 1933 gold recall they did not for the most part actively target people. They simple said turn it in. They told the banks that any gold that came in over the counter had to be sent back to the government. But neither during the bank holiday, nor during the recall did they examine the contents of peoples safe deposit boxes. At least not officially. It is possible that some bank officials may have overstepped their authority and done so.

A confiscation order today probably would include a freeze on safe deposit boxes until the contents could be examined because such a recall would be much less effective today than it was in 1933. In 1933 the public was MUCH more trusting in the government and whatever they said goes because they knew what was best for the country. Today there is much more skepticism and distrust of our elected officials. A confiscation order would be met with people hiding their valuables not peacefully surrendering them. That is why they would have to have the banks freeze the boxes first. But like I said I do not expect any such confiscation to be ordered.

Oh and taking us off the gold standard did not change the legal tender status of the gold coins. They were not made illegal and could still be used. But once they hit the banks they would be withdrawn.

"as I get older I'll forget who I gave them too. "

ROAR!

Wow! Very interesting input....makes one think twice who we buy from and how coins are acquired. Just makes me want to dig a hole to hide mine in.

Teena

Although the government is large, there is hardly enough of them to monitor all the safe deposit boxes in all the banks and other places where there are those. There are possibly many millions of safe deposit boxes out there so just where would they get the millions to check them out? Maybe a long time ago conficating anything was somewhat possible but there are just to many people to even consider any conficating of anything today. Take all the bands on handguns in Chicago for example. Can't sell them, need all kinds of identification to even have one, can't buy ammo for them yet for some mysterious reason, there are millions of them there. Why it's even illigal to kill someone with a handgun yet again for some strange reason, that too continues. It's illigal to steal, rob, rape, murder and yet those too go on daily. So why worry about taking your coins away?

A couple years ago, I had a couple women call with an unusual request. They wanted to buy silver dollars, Peace OK, wear and even damage OK, but they had to be dated before 1933.

They were attending some sort of "class", and the teacher was citing some "law" that said only gold and silver dated before 1933 was money. You could have $1000 cash (or more recent coins), and be arrested for vagrancy, but not if you had as little as $5 in "real money".

An interesting theory I'd never heard before or since.

I would ask for my money back. See, I can do it, too (ask for money to be returned).

Before the "Coin Police" come knocking on your door y'all better send all your Gold to me and I will hide it for you......