It is true that investors fear that the government might seize their gold. However, this is only a tactic employed by some gold firms to persuade you to invest on collectible or numismatic coin. It is believed that the government can’t seize numismatic currency if it passes a Presidential Order similar to that passed by President Roosevelt in 1983. The order allowed citizens the right to keep any collectible golden coins. This is why unscrupulous gold traders use this loophole to try and push you into buying high-priced, collectible gold coin.
The Government Can Seize Your Gold!
There is currently no such order that allows the government to seize gold. Also, the 1933 order did not permit the government’s to go out and seize gold. It required that citizens surrender their gold. They were then paid. It is important to remember that this occurred during an era where the dollar was supported by gold. The US dollar does not have a gold backing, so the government has no reason to take or demand that US citizens give their gold.
Is it possible to estimate how many of America’s citizens actually gave up their gold and how many kept on hoarding gold? If the number pre-1933 of common gold coins can be used as an indicator of how compliant people are, you will see that there was a lot of people who held on to their gold. These coins were only used to make currency. They were not collectible.
Why The government won’t seize your gold
Even if America returned to a dollar supported by gold, the value of gold would rocket into the stratosphere. According to some estimates, gold would have a minimum of $10,000 per ounce to allow the US to return the gold standard. This price could be as high as $40,000 per ounce according to other estimates. Also, to give the government more money to invest in the economy it would need more gold.
As you are aware, the government is simply printing more money in order to stimulate the economic growth. Inflation can be caused by this but it is what has been done since the US left the gold standard.