QUESTION:
Mr. Armstrong;
Because of the civil asset forfeiture laws I think I understand why you say own only gold coins before 1947 not bullion they can call cash. Am I correct?
HP
ANSWER: Absolutely. Even that will not be a guarantee against government who has gone totally criminal. However, if you have circulated common date $20, $10, or $5 gold coins, at least you can argue it is a collection rather than bullion. It may not prevent 100% against confiscation for you still have crazy stupid government employees, but it is at least an arguing point.
When we first tried to mail ancient roman coins made into necklaces, the post office refused to accept them because it is ILLEGAL to mail money. We tried to explain that these are coins from the Roman Empire. They interpreted “coin” as money and therefore we could not mail them. We have to insure them as antiquities, not coins. It just does not help one’s blood pressure dealing with total stupidity in government agencies.
Hence, buying U.S. common date gold coins is at least a hedge. Some think that they will be fine since the Mint sells gold — well, the European government prints €500 notes and will confiscate them if you have them. You cannot reason with outright criminals, so why bother to even try?
