If you are considering buying gold coins as a way to invest for your retirement, you need to understand some historical facts that this country has gone through. Did you know that President Roosevelt, in 1933, created an executive order for all citizens of the U.S. to hand over their gold bullion, gold coins and gold certificates to the Federal Govt. in exchange of $20.67 per troy ounces? This is called gold confiscation. If you didn't hand your gold over and was caught with it, you could be fined up to 10,000 dollars and imprisoned for up to ten years. Now that was in our past and the whole executive order was repealed in 1974 by President Ford, but the point is that it could happen again.
What would you do if the investment you had put together in gold was called back again and you had to sell your gold for less than you had invested in it? Could this happen again? It's always possible. One thing you need to know is that in 1977 congress removed the power of the president regulating gold transactions during a national emergency, except for the the emergency of war. So it would have to be a very dramatic occasion before the president would cease your gold, but gold confiscation could happen again..
One very important exclusion to the gold confiscation has been the collector's gold coins. There were only certain types of gold taken, such as the regular gold coin, bullion or gold certificates during the 30's. The government had no interest in collectors coins, only coins that could be used for monetary reasons.
The one thing that we do need to look at is that history can repeat itself. And we might be faced with an emergency that would have the government confiscating our gold again. What could we do if that did repeat itself? Laws can and will change over the years. As people of this great nation, we need to let our senators and congressmen know what our concerns are. After all, they are the servants for us, the people. Letting your senator or congressman know what your concerns are is always a good idea. Also there is another person who could help you with your concerns, and that is the U.S. Bureau Metals Advisor. Just call (800) 775-3504 and give your point of view and questions to this person as well. After all, it's your investment and no one should be capable of taking it away.