Redneck wrote:68Camaro wrote:Redneck wrote:No. (for other reasons)
Government minted coins and bullion are property of the government, therefore subject to confiscation should it be deemed necessary.
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Please show the reference that proves this...
As far as the general topic of confiscation goes, if it wants to, the government can confiscate anything they want. If it chooses to do so, and knows you have it.
From various sites.
Under the currency or coinage Acts of almost all nations, the government (and/or central bank) at all times directly owns the coins and notes issued in that country. This means that if you purchase a bullion (gold or silver) coin issued by government, you are only the BEARER of the coin, and never the outright owner. The issuing government owns the coin. Should the government decide to recall that coin, which they can do at any time they wish, they will pay you for the face value of the coin, and not its true metal value. Governments have a long history of recalling bullion coinage when their economies head into rough times, a recent example in the western world being 1933 in the US.
When you purchase non-legal-tender, privately issued coinage, you are the outright owner, not just the bearer. You now have outright ownership of bullion coins of a fixed and defined weight and purity, which are freely exchangeable for other goods or services in the free-market, and cannot be recalled by an issuing government. (in theory)
Many people are unaware of this fact: Government issued coins are not yours, you are only the BEARER of the coin, NOT the owner, as it is actual currency owned by the government. Just like on a dollar note, it says you are “the bearer”. This applies to all government issued currency.
The government issued gold and silver coins like the American Silver or Gold Eagle, Canadian Maple Leaf or any others always remain the property of the issuing government of the country in question. The purchasers are only the “bearers” of the coins and never attain complete ownership of the gold and silver for their asset value. This fact is not known to many people simply because they never ask and obviously, are never told.
But this is really a moot point, for as you have already said...As far as the general topic of confiscation goes, if it wants to, the government can confiscate anything they want. If it chooses to do so, and knows you have it.
This is a fascinating statement. So if what you say is even partially true, then in theory, the government can recall all silver coin, outlaw it, change the value/price, confiscate it, basically screw anyone that holds it. I wish I was able to get more definitive proof/answers on this. Non-government issued silver coinage is starting to sound a bit more safe (although I already have a decent stash of third-party silver coins/rounds). From a practical point of view, there would be almost no way to enforce it country-wide, especially in a SHTF scenario..ie people will still trade/barter with silver privately, if that's all they have. Anyone else care to comment? I would love to hear more thoughts on this.
Anyway, my vote is simply this...buy as much silver for the least amount of FRN's as possible...period. To put it another way, I don't have that many ASE's (despite their beauty).