Gold Confiscation in 1933; Avoiding Gold Confiscation Today. (The stories that telemarketers tell to sell over-priced coins) Many gold and silver dealers foster the circulation of many myths, misunderstandings, and outright lies about the purchase and sale of gold and silver. Generally, these misconceptions and falsehoods promote the notion that the government may again call in gold as it did in 1933 and that “reportable” transactions are preludes to confiscation. By cultivating such fears in investors, unscrupulous firms can sell high-priced (and nearly always overpriced) coins with greater margins of profit. Investors who believe these stories invariably pay too much or buy the wrong coins.
Gold Confiscation The most frequently used technique to promote high-priced coins is to raise the issue of confiscation. Many precious metals firms maintain that old U.S. gold coins, proof sets, and commemorative gold coins are “collectibles” and would not be subject to another gold recall. The concept of “non-confiscateable” gold is counterfeit.
Mozilla Firefox Start Page. Tribute to Burt Blumert by Ron Paul. Before the US House of Representatives, April 2, 2009 Madame Speaker, Burton Samuel Blumert passed away on Monday March 30, following a long battle with cancer. Burt was a true hero of the freedom movement and my close friend, advisor, and business partner. As the founder and manager of Camino Coins in Burlingame, CA, Burt was one of the nation’s leading dealers in gold and silver coins. A student of Ludwig von Mises and the Austrian school of economics, Burt understood the important role precious metals played in protecting ordinary citizens from the damage wrought by fiat money and inflation.
Thus, he regarded his work as a coin dealer not just as a business, but as an opportunity to help people by providing them with some protection from the Federal Reserve’s inflation tax. After I stepped down from Congress in 1984, I partnered with Burt in the coin business, a partnership which lasted until I returned to Congress in 1996. See the Ron Paul File April 3, 2009 Dr. Ron Paul Archives. 5. How To Buy Gold and Silver. The Risks You Run When You Own Gold, and the Danger You Face If You Don't by Burton S. Blumert. This speech was delivered at the Steve Sjuggerud Conference in Long Beach, California on Wednesday, January 28, 2004.
At breakfast a nice young man set aside his French toast to ask me, “Burt, how do I know if a coin dealer is reliable?” I answered without hesitation. ” To start with, make certain he has been in the business at least 43 years 7 months and 11 days — Make that 12 days.” You guessed it, that happens to be my tenure in the trade, and I admit my sassy response sounded self-serving.
You don’t need a novice practicing on you whether he is selling a Krugerrand, a Proof Seated Dollar or, anything for that matter. Some years ago, I was seriously troubled by a potential tax problem. I foolishly mentioned the matter to my family attorney. As he listened to the details, his face drained of color, and I feared he would pass out. If I need brain surgery, I want a doc who has handled so many cases that my particular tumor is almost boring. Here are just a few: Result: No diamonds! Why Store Gold Bullion In Your Safe Deposit Box? So you've decided to buy some gold bullion. Great move. The price of gold has surged to $890 this week with no signs of looking back. If the price of gold does correct, it will be a great opportunity for savvy investors to accumulate more. Gold is on the move to much higher levels in this environment of continued low interest rates and inflation. Today I'm going to talk all about safely storing your gold bullion investment.
Store Gold In Your Safe Deposit Box For most investors, the safe deposit box is the best place to store gold coins and bullion. Safe deposit boxes are relatively inexpensive. Don't Declare Your Safe Deposit Box - Keep Your Gold Safe Here's a piece of advice you probably haven't heard before: Absolutely don't declare your safe deposit box on your tax return. Diversify Your Gold Assets By Geography Many people buy gold as a store of value in case of an emergency. Other Ways To Buy Gold Buy Gold Coins on eBay Related Gold Articles Return HomeWhy Did I Create Gold Why? Contact | International Rarities. Gold, silver coins to be legal currency in Utah. JOSH LOFTIN/None Originally published May 22, 2011 at 1:19 p.m., updated May 22, 2011 at 9:10 p.m. SALT LAKE CITY (AP) - Utah legislators want to see the dollar regain its former glory, back to the days when one could literally bank on it being "as good as gold.
" To make that point, they've turned it around, and made gold as good as cash. Utah became the first state in the country this month to legalize gold and silver coins as currency. The law also will exempt the sale of the coins from state capital gains taxes. Craig Franco hopes to cash in on it with his Utah Gold and Silver Depository, and he thinks others will soon follow. The idea is simple: Store your gold and silver coins in a vault, and Franco issues a debit-like card to make purchases backed by your holdings. He plans to open for business June 1, likely the first of its kind in the country.
"Because we're dealing with something so forward thinking, I expect a wait-and-see attitude," Franco said. Fifteen years later, the U.S.