Your gold bought from them is placed in your hands (if you want to leave with it) - and or they will insure it and place it in their own vaults with your name on it.
Best to buy highly collectable US gold coins only, with an additional high numismatical value. Don't buy bullion, don't by any foreign gold coins of any type (confiscatable by US fed gov... they can't confiscate US mint gold coins.)
Thanks, Ron.
That is the kind of advice I was looking for!
Would not bullion in my hands work as well? Coins make me nervous (for no more reason than why I started this thread)...
Well not yet
Who the heck wants to buy a loaf of bread with a gold coin of high numismatic value? Shouldn’t ‘SHTF times’ trump ‘value of the dollar’ mentality?
What makes you think that they could confiscate one but not the other? King Franklin confiscated U.S. currency along with the rest of the gold people were holding as a source of value. The fact that he stole 43% of the value of people's gold holdings probably contributed to the lack of capital in places that could contribute to economic growth.
US-minted gold coins were “confiscated” (under penalty) in 1933!
Don’t buy bullion? I do not see any advantage in paying a premium for coins. Why pay the extra for minting?
Ron, I don’t know where you get your information, but it’s almost all wrong.
1) The only gold coins ever confiscated by the US government were ones it created at the mint. Those coins “belong” to the Treasury and could be confiscated again, just as they were before.
2) I’ve been a coin collector since 1959. “Numismatic value” is highly subjective, much of it is fraudulent, and in any case it is critically dependent on orderly markets. In a crisis, the “numismatic” value component of almost all coins goes to zero.
3) Foreign gold coins have no special legal or regulatory status. They are just the same as US gold prior to 1933, and are probably safer than post-1986 “legal tender” US mint issues.
“they can’t confiscate US mint gold coins.) “
who says?