I have a 1909 st gaudens coin and i’m wondering if they can and might confiscate pre-1933 gold coins?
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.3 Comments on “Does anyone know if the government can confiscate gold coins?”
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July 1st, 2009 at 1:52 am
Nixon took the United States off the Gold Standard when he was in office so that now US currency is not backed by gold. The U.S. really has no need for gold anymore and a gold coin has no more intrinsic value than a piece of gold jewelry except as a collectors item. Therefore if the U.S. ever decided that it needed gold again a recall of a coin would be no more viable than a general call for all gold to be turned in and I just cannot see everyone rushing to their local depository to turn in all of their gold jewely and computers (yes, there is gold used in the manufacture of computers)
July 1st, 2009 at 5:47 am
No, the confiscation of gold in 1933 was for bullion. The government confiscated the 1933 double eagles because none officially left the mint before Roosevelt forbid them from being issued. Any 1909 dated gold coins are completely safe from any government recall.
July 3rd, 2009 at 8:34 am