Do you really own your ASE's?

[argent_pur]

Some of you probably know Mike from Youtube "whymewhysilver". I was listening to one of his vids last night where he was talking about the difference between ASE's and private mint rounds. He was saying that because ASE's have a face value and are legal tender as currency that people who buy them don't actually own them, but rather are "bearers" of them. He says they are actually the property of the U.S. Gov't and can be recalled much as FRN's can. I'm not a legal expert, has anyone else heard this or know if that is the case?

I'm not really worried about confiscation, per se, because ASE and AGE purchases aren't reportable in any quantity to the IRS, and I wouldn't give them my stash in any case.

[Thogey]

Watch how fast they melt and become private issues if this [confiscation] is the case.

[Neckro]

Yeah, silver is silver. no way to say it was an ASE if it's a giant blob

[Cptindy]

"Giant Blob"

LOL

[Ardent Listener]

Do we really own our 95% copper pennies? Do we really own our 75/25% copper nickel nickels? Currently there is no melt ban on ASEs. But there wasn't one on pennies and nickels a few years back.

[theo]

The only thing that the U.S. Government could legally do is de-monetize them, which would mean nothing to us. A physical recall is a propery confiscation on the order of FDR's 1933 decree on gold. Not impossible but very unlikely.

[AGgressive Metal]

He says they are actually the property of the U.S. Gov't and can be recalled much as FRN's can. I'm not a legal expert, has anyone else heard this or know if that is the case?

Mike is a nice guy, but that is just ignorant. It falls under the category of "patriot lore".