US-minted gold coins were “confiscated” (under penalty) in 1933!
If history does repeat itself, and the U.S. government does once again make it illegal for private citizens to own most forms of gold, we believe that collectible and semi-rare gold coins (pre 1933 U.S. gold coins) would once again be exempt from the order. Why? Two reasons:
Non-traceability. In the U.S., ownership of gold bullion and gold bullion coins is subject to stringent government reporting requirements. Ownership of "rare coins" is not. In the event that the government should issue an order confiscating privately held gold, it will be difficult for the government to trace down owners of collectibles in order to enforce compliance.
Legal precedence. The legality of FDR’s 1933 actions held up in court. But, a similar executive order would undoubtedly face legal challenges. While there is legal precedence for confiscating gold bullion coins, no historical legal precedence exists for the confiscation of coins that have numismatic value.
Lastly, whatever you have in a self-administered IRA is not made available automatically to government in any kind of reporting.