Was gonna buy an oz of 24K gold yesterday,

[random1323]

but after talking to the dealer from Goldline realized i don't know much at all about gold. There is confiscational gold, non-confiscational gold. what is that, i mean is it really worth the mark up.
By the end i figured my best bet was to get an oz of gold and start getting silver because it's cheaper and the price doesn't seem to vary from year to year.
What do u think boys......Tiz.....woof, if he's even still around,...others?


:think2:

 

[bilbal]

ask him what his basis is for claiming gold he sells is "non-confiscational", I'd love to know his reasoning.

 

[random1323]

this is the coin and his reason is because it was made in Canada.

The Canadian Maple Leaf
The Gold Maple Leaf is one of the most practical ways
to invest in gold.



Far More Than Just Another Asset. An Investment You Actually Hold.

One of the most practical ways to invest in gold is to own Gold Maple Leaf coins, produced by the Royal Canadian Mint. Every Maple Leaf coin is guaranteed by the Government of Canada for its weight and purity. As a result, Maple Leafs are extremely liquid, easily bought and sold anywhere in the world where precious metals are traded.

Perhaps most magical of all, Gold Maple Leaf coins are an investment to own and to admire and touch. When you hold a Gold Maple Leaf coin in your hand, you're holding 5,000 years of security and value.
The Worldwide Standard for Gold Bullion Coins

The Gold Maple Leaf commands universal respect and attention, as it has been traded on the world market since 1979. And it was the first gold bullion coin to be minted in the ultimate 99.99% purity. No gold coin in the world boasts a higher purity.

 

[bilbal]

Because it's from Canada? weak!

I don't know of any current US law that makes any gold coins "confiscatable". He is looking to make more money on a non issue.

 

[random1323]

I don't know when times get rough and shit hits the fan it would be nice knowing what's mine is mine.

Times were very good for many Americans in the mid- to late-1920s: the stock market had grown exponentially driven, in part, by a frenzy of investing which sent stock prices well beyond their true value. In 1929, the frenzy ended. Black Tuesday started a stock market crash which ultimately led to the Great Depression.

Government Confiscation of GoldBy 1933, the demoralized nation looked to Washington, D.C. and President Franklin D. Roosevelt for salvation. Recognizing the inherent value of a currency based upon gold, and seeking to stabilize the U.S. dollar, Roosevelt confiscated gold coins owned by American citizens (all but $100 worth per individual).

Americans were required to turn in their gold coins to a Federal Reserve Bank in exchange under penalty of large fines and/or jail sentences. There were only a few exceptions, one being:

"gold coins having a recognized special value to collectors of rare and unusual coins."

 

[random1323]

bilbal, do you you know much about buying physical gold?

 

[bilbal]

Government Confiscation of GoldBy 1933, the demoralized nation looked to Washington, D.C. and President Franklin D. Roosevelt for salvation. Recognizing the inherent value of a currency based upon gold, and seeking to stabilize the U.S. dollar, Roosevelt confiscated gold coins owned by American citizens (all but $100 worth per individual).

Americans were required to turn in their gold coins to a Federal Reserve Bank in exchange under penalty of large fines and/or jail sentences. There were only a few exceptions, one being:

"gold coins having a recognized special value to collectors of rare and unusual coins."

That law was repealed by Nixon like 35 years ago and Congress removed a President's right to do things like recall gold.

 

[bilbal]

bilbal, do you you know much about buying physical gold?

enough to know that you're better off with a small position in gold ETF's (like ishares: IAU)

 

[random1323]

that's nice to know but the law states"In 1977 Congress removed the president's authority to regulate gold transactions during a period of national emergency other than war."

So like I said, it would be nice to know what's mine is mine.

 

[tiznow]

chances of gold confiscation are slim to none now

back in the day when they did it the gold was still tied to the dollar

it isn't anymore

as for "non confiscational" gold that's all a scam

gold is gold

 

[random1323]

good to know

 

[texansfan]

That's gold Jerry, gold!

 

[fletchisrhsm]

enough to know that you're better off with a small position in gold ETF's (like ishares: IAU)

:nohead:

Dont invest is this shit Random. Its always to have tangible wealth then some phony shit on paper that can be drove into the ground by some cocksucker in some other country or behind a granite wall on wall street. I have heard numerous times for over a year now that COMEX gold contracts will default, if that happens all those people will have gone like those that invested in Lehmans (in a round about way anyway). I have been buying silver and some gold (i own 16 1 oz coins) for few years now, i think that is a solid play.

 

[desrat]

If your going to buy PMs take physical delivery.

APMEX is who I have used with out ever having a problem and they usually have the best prices. No experience with Goldline but have heard a few negative things from some others.

Use the ETFs for trading.

 

[The Vegas Snake]

That law was repealed by Nixon like 35 years ago and Congress removed a President's right to do things like recall gold.

and you dont think any of these tyrannical mother fuckers in washington wont steal your gold? If martial law is declared, congress will not mean shit man....fema will control everything, and they answer only to homeland security, who answers only to the president...

what im trying to say is, THEY WILL HAVE NO PROBLEM STEALING YOUR GOLD...theyre trying to take it right now. you see all those "send your gold in an envelope and we'll send you cash" commercials? Believe me man, they will soon be after everyones gold, but by that time that will be the least of our worries

 

[SportSavant]

did people ever get their gold back? were they compensated for gold that was confiscated?

id love to read an article about how this all went down.

 

[artiesliver]

and you dont think any of these tyrannical mother fuckers in washington wont steal your gold? If martial law is declared, congress will not mean shit man....fema will control everything, and they answer only to homeland security, who answers only to the president...

what im trying to say is, THEY WILL HAVE NO PROBLEM STEALING YOUR GOLD...theyre trying to take it right now. you see all those "send your gold in an envelope and we'll send you cash" commercials? Believe me man, they will soon be after everyones gold, but by that time that will be the least of our worries

I agree. Remember, the government has the biggest guns/weapons and will have no problem stealing gold from its citizens. IMO, unless you can make it over the Canadian border before they take it, I don't see much value in gold as a safe haven.

 

[fletchisrhsm]

Gold is over 800$ an OZ, you can hide lots of wealth in coins, i mean you could have a safety deposit box filled with gold that would be worth over 100K... even if they declare martial law, they still have to go about getting it, those coins would be easy to hide. I think investing in Gold or other metals is the smartest thing to do if you are convinced this type of situation goes down.

 

[eek.]

There's always a way around these things, legally or not quite so legally.
For instance, a collector (see "ART") who collects pre-1950 gold coins would dodge the sequestration order.
Rich political people have gold too, so FDR would want to help his political allies.

The US government would also be aware of future lawsuits from the families of people who had their wealth stolen by the Government.
What FDR did with gold was legally no different from what Hitler did to the jews.

-----------------------------------------

Order 6102 specifically exempted "customary use in industry, profession or art"--a provision that covered artists, jewelers, dentists, and electricians among others. The order further permitted any person to own up to $100 in gold coins (a face value equivalent to five troy ounces of Gold). Nevertheless, anecdotal accounts later related that many persons who possessed large amounts of gold simply ignored the order and hid their gold until the Order ceased to be in effect.[citation needed]

Despite the dire threat of ten years in prison there was only one prosecution under the order and the order was ruled invalid by federal judge John Wolsey in this case on the technical grounds that the order was signed by the President, not the Secretary of the Treasury as required.[

http://en.wikipedia.org/wiki/Executive_Order_6102

 

[bilbal]

and you dont think any of these tyrannical mother fuckers in washington wont steal your gold? If martial law is declared, congress will not mean shit man....fema will control everything, and they answer only to homeland security, who answers only to the president...

what im trying to say is, THEY WILL HAVE NO PROBLEM STEALING YOUR GOLD...theyre trying to take it right now. you see all those "send your gold in an envelope and we'll send you cash" commercials? Believe me man, they will soon be after everyones gold, but by that time that will be the least of our worries

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