Gold Confiscation, Here’s How it Could Happen and What to Do About It
By: Michael J Kosares
David L Ganz is a prominent New York City attorney who specializes in precious metals and numismatic law. His wide-ranging biography includes advising several Congressional committees and commissions, including the Annual Assay Commission, life fellowship at the prestigious American Numismatic Society, past president of the American Numismatic Association, listing in Who’s Who of American Law and the Order of St. Agatha (Commander) awarded by the Republic of San Marino. He has authored over 30 books and remains highly regarded as a consultant, writer and lawyer in the field of coins and precious metals both publicly and among his peers.
Much has been offered in the way of opinion on the matter of a potential gold confiscation, but too little of it is well-researched, well-informed and grounded in a true understanding of the laws and regulations involved. Below Mr. Ganz applies his considerable expertise and unique perpsective to the mysteries surrounding gold confiscation, unravels past legal precedent, and offers some practical suggestions on a course of action for those concerned with the possibility.
Allow me to make a personal observation and then I will send you on your way to Mr. Ganz’ important and timely analysis. Too many gold owners labor under the false presumption that high-end, high-premium numismatic gold coins are the only way you can protect your holdings against a potential seizure. Many of our prospective clients are pleasantly surprised when they discover that there is a whole genre of pre-1933 gold coins that can be acquired at modest premiums over the gold content and still meet the criteria for exemption Mr. Ganz outlines. As he points out, “rare and unusual” does not necessarily equate to “pricey” or “expensive.” To understand why the words “rare and unusual” are important, we invite you to read on.
Michael J. Kosares Founder: USAGOLD-Centennial Precious Metals Author: The ABCs of Gold Investing: How To Protect and Build Your Wealth With Gold