Government taking gold

Hello.
I'm new in this gold universe.

I heard about government confiscating gold sometimes. Great....
Are they only confiscating gold that is in their own banks? Do they do same with private banks? If I buy gold as I buy stocks, without having it physically in my hands, is it a problem? If I keep my gold in a coffer at the bank, is it a problem? In your opinion, to which extent should we keep gold MATERIALLY and by which way?

Heck... how should I invest in gold-related sectors??

[IrishGold]

First off GreenFrog, Welcome to Gold Is Money!
We are glad you have decided to join us.
Second, we have all been "new" at this at one time or another and had the same type of questions, so don't be bashful about asking.

Now, before we get to your questions, please remember that what you will read here is opinion. It is what that particular person thinks is the answer to your question or questions. Advice, while freely given is worth just what you paid for it. You have to weigh all the answers and choose those that seem to you the most logical and correct.

Now, on to your questions from my point of view.

Govt. confiscation of gold has happened in the USA only once. Franklin D. Roosevelt declared the private ownership of gold illegal in 1933 and it wasn't until 1975 that the ban was lifted. I believe there are too many well informed and well armed people nowadays, and because of that, no politician in his right mind would try to confiscate gold again.

When you buy physical gold or silver, you should, in my opinion, always take possession. Have it in your immediate control and access. I do not believe it should be in a safety deposit box at a bank or credit union (private bank). You do not have total control and access to it.

You can buy gold as coin of various weights from 1/10th oz. up to 1 oz. or small bars from 10 grams up to 10 oz. Silver can be bought in coin in a 1 oz. size and in bars of 10 oz and 100 oz. Another way to buy silver is in what is known as junk silver. These are pre-1965 dimes quarters and halves which is known as 90% and 1965 through 1970 halves which is known as 40%. Currently, if you can purchase any 90% junk silver for 3.7 times it's face value, or less, you should buy it. Three and a half times face value is a steal now.

That's enough for now, read through some of the posts here on GIM and you will learn a lot more!

Thanks for answering that well :)
I saw that www.crowne-gold.com and other websites are selling some gold that is stored in their own places. What do you think about this way of buying gold? Could their gold be taken by government (Crowne-Gold is established in the US, some others are elsewhere)?

About Rosevelt banishing gold, do you know where I could learn EXACTLY what happened? Did they simply stole everyone's gold in banks and stocks?? Would they reach Internet gold providers?

Also, you said "Currently, if you can purchase any 90% junk silver for 3.7 times it's face value, or less, you should buy it. Three and a half times face value is a steal now." 3.7 times it's face value means 10 cents * 3.7 if it's a dime, for example?

[IrishGold]

Originally Posted by GreenFrog

Thanks for answering that well :)
I saw that www.crowne-gold.com and other websites are selling some gold that is stored in their own places. What do you think about this way of buying gold? Could their gold be taken by government (Crowne-Gold is established in the US, some others are elsewhere)?

About Rosevelt banishing gold, do you know where I could learn EXACTLY what happened? Did they simply stole everyone's gold in banks and stocks?? Would they reach Internet gold providers?

Also, you said "Currently, if you can purchase any 90% junk silver for 3.7 times it's face value, or less, you should buy it. Three and a half times face value is a steal now." 3.7 times it's face value means 10 cents * 3.7 if it's a dime, for example?

Would you have total control and access to gold stored at Crowne-gold?
No way!
If TSHTF on a Saturday night, would you have your gold in your hands on Sunday morning?
Not a chance!
There are numerous sites where you can read all about FDR and his gold grab. Do google search on Gold Roosevelt
That's correct if you can buy a 90% dime for 37 cents, buy it.
Most of these types of sales however will be in bags of $100, $200, $500 and $1000 face value or the standard bank rolls of coins.
Here are a few websites to visit:
http://www.tulving.com
http://www.ajpm.com
http://www.scpm.com
http://lynncoins.com

Originally Posted by IrishGold

Would you have total control and access to gold stored at Crowne-gold?
No way!
If TSHTF on a Saturday night, would you have your gold in your hands on Sunday morning?
Not a chance!
There are numerous sites where you can read all about FDR and his gold grab. Do google search on Gold Roosevelt
That's correct if you can buy a 90% dime for 37 cents, buy it.
Most of these types of sales however will be in bags of $100, $200, $500 and $1000 face value or the standard bank rolls of coins.
Here are a few websites to visit:
http://www.tulving.com
http://www.ajpm.com
http://www.scpm.com
http://lynncoins.com

I thought I should an additional note on the Gold confiscation in 1933 - it was not like they went from house to house taking everyone's Gold - they "recalled" the Gold at a set price exchanged for FRN notes. Some of the fools actually did turn it in their Gold - some did because they could not readily spend it legaly anywhere.

If the gov decided to take similar action today (Not Likely) - one could simply not comply with the recall...