Buying gold??

[Kathe]

What do you think about investing in gold coins? Just curious. Kathe

[The Learner]

What do you think about investing in gold coins? Just curious. Kathe

I have read that the government has the authority to seize precious metals from individuals under certain circumstances. If I can find the source I will post it in this thread.

I don't know if you are coming into this thread from a "how to invest for retirement" point of view or a "what to invest if/when the US economy collapses to survive"

I cannot help you with the first one, but for the latter I would think that buying things that you could barter with would be most valuable i.e. ammunition, medical supplies, non-perishable foods, etc.

[CarolLyn]

It is my understanding that as the value of the dollar does down (which it is) the value of gold goes up. It's going up at a pretty good pace now.. Kitco.com has excellent charts to show what it's doing. Just click the "charts & Data" tab. About govt. confiscation, if you buy 100 year old coins, they don't require you to give your SS# to purchase them and therefore no govt. record of ownership. They cost a little more. That's about all I know. I'll be interested to see what others think...:)

[Chariots]

About govt. confiscation, if you buy 100 year old coins, they don't require you to give your SS# to purchase them and therefore no govt. record of ownership. They cost a little more. That's about all I know. I'll be interested to see what others think...:)

The couple of times I've picked up a gold coin as a gift for someone there is never a record made, regardess of the coin's age. Under current law there is no sales tax either, it is simply trading paper for coins. Just like breaking a dollar for quarters.

[JenGC]

The couple of times I've picked up a gold coin as a gift for someone there is never a record made, regardess of the coin's age. Under current law there is no sales tax either, it is simply trading paper for coins. Just like breaking a dollar for quarters.

I have been buying gold coins with the idea of having something that is worth more than the dollar. They ALWAYS charge me sales tax but they do not ask for my SSN. At least in my state, they consider it the same as purchasing a big screen TV.