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Some sellers of gold hype that since gold was once ordered confiscated by our government, that it could happen again. They tell the potential buyers that it could happen again and under the terms of the 1933 act signed by President Roosevelt, that private gold-numismatic products pre-1933 would be exempt and that if there was a new confiscation order, that your pre 1933 gold would be safe. This pitch to buy gold, preys upon the fear of the buyer. While there are very good reasons to buy pre 1933 private gold-numismatic products such as Liberty and St. Gaudens designed Double Eagles, we have never encouraged buyers to do so out of speculative fear that gold might be confiscated and their purchase would be exempt. The truth of the matter is that nobody has a crystal ball and nobody can predict whether there will ever be another government ordered confiscation of gold. Such a hypothetical event has been the subject of much debate.
We all do know that our government has enormous powers and while there is a separation of powers in the United States Constitution, the United States Supreme Court can easily find constitutionally valid reasons to validate such Executive Branch action as legal in all respects. For that reason, we feel that there should be no comfort taken that if there ever was such a new confiscation order, that any pre-1933 acquisition or any category of gold, would be exempt from confiscation. Basically, the government can do whatever it wants to do, given the then current circumstances that require such an order.
We at Citizens Gold, do not believe that there is a substantial likelihood of some new confiscation order being enacted, but with that said, we acknowledge that we do not have a crystal ball either and however unlikely we believe such an event would be, there are contrary expert perspectives and opinions. We reiterate that you should never buy out of fear. Buy for the right reasons. Buy because you believe that gold is a prudent long term strategy for you are your particular circumstances. Buy because you believe that gold will continue to increase in value and that when you ultimately sell, you will realize a profit. Buy because you believe that taking physical delivery of gold will be a better use of your hard earned money than investing in the stock market. Buy because you believe that the volatility of the stock market is not right for you, your family and your comfort level. Buy because you believe that gold is history’s best time tested asset and because you believe that the Dollar will continue to lose its value and buying power and because you want a safe hedge against inflation. Buy because you believe that gold is your safe haven from the politics of today and the global economic uncertainty. Buy because you believe your retirement account or nest egg is safer in gold than in paper money that continues to be printed with no end in sight. Buy because you believe that diversification of assets rather than putting all your eggs in one basket is the right way to protect your future. There are so many more good reasons to buy gold. But never buy it out of fear of confiscation alone. Sure, the possibility is something that you should consider, just as you should fully consider all aspects of a potential investment. But make up your own mind as to what is best for you and why.