Personal Finance (Not Investing) • Most secure and most private way to buy gold

If you (for some reason) think that we are at risk of a repeat of Executive Order 6102 then none of these measures will help much as even if you have the metal you won't be able to sell, trade, or spend it anyway and thus it will be a fancy paperweight.

The standard answer to this is you'll smuggle it out of the country or something. Possible I guess.

The more realistic answer (to me) is junk silver which is easily negotiable and small enough to do so.

Or maybe he's Smaug and wants to build his hoard without annoying dwarves and burrahobbits showing up all the time.

Getting it out of the US seems pointless, since the usual reason for Gold is to have some wealth that you can keep yourself, moving it to a foreign country eliminates any such advantage.

RE Silver, see Executive Order 6814. No reason that Junk Silver could not suffer the same fate in such a scenario.

I do think there is value in both silver and gold for specific circumstances, but neither are desirable to own in the Depression Era executive order type scenario.

First, it is not difficult to move your gold out of the country if you wanted to do that. There are many secure ways to ship packages, no matter how heavy. Junk silver takes up a lot more space than gold. It is highly unlikely that we would see a gold confiscation by the government at this point, at this point too many wealthy and influential people own gold. Does anyone think that the government would go around physically confiscating gold? When that happened in the 1930s the US was still on a gold standard, which hasn't been the case since 1971.

And they don't need to confiscate gold?

They just make it illegal to buy or sell it. Or hold it. Then you've basically got something illegal, that you can't get rid of. It can sit in your bank safety deposit or wherever, but what are you going to do with it?*

The US is not Venezuela as yet, so I would not get too worried about that.

* the late Philip K Dick lost a whole book manuscript (which would now be worth quite a lot, as he is probably the most republished SF author in history) when someone dynamited his safe. It was a paranoid time, and perhaps the CIA did dynamite his safe (as he thought they did - and there was a lot of fishy stuff going on around that time with domestic spying). But, far more likely, some of the drug users he associated with (late 1960s Berkeley CA) wanted access to his stash (or assumed he had one - he certainly was addicted to amphetamines at one point). So one's safe is not particularly a safe bet. Personally I wish they'd saved the manuscript.

Statistics: Posted by Valuethinker — Wed Jul 17, 2024 12:01 pm — Replies 24 — Views 2101

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