ARE OLD GOLD COINS COLLECTABLES?
Coin collecting is a hobby that lots of public enjoys. A collection of gold coins is perhaps the most classy & precious collections that a person can have. Another is the financial factor, where gold coins tend to appreciate in value over time due to the gold market. One of my favorite collections is the Double Eagle Gold Coin that was made in the year 1924.
Many precious metals firms maintain that because old gold coins are “collectables,” they would not be subject to another gold recall. Some firms say that premiums of at least 10 – 15% automatically make coins “collectibles.” No current Federal law or Treasury Department regulation or directive supports these statements. The statements that specific types of gold coins are not subject to confiscation are based on an Executive Order that President Roosevelt issued in 1933 prohibiting private ownership of Gold Bullion & Gold Bullion coins. The executive order exempted “gold coins having a recognized special value to collectors [of rare and unusual coins],” but it did not define “special value” or “collector”. The evidence suggests that sellers promoting old gold coins propagate this myth because it makes it easier to sell high-priced “old gold” coins. Although Roosevelt’s Executive Order required U.S. citizens to turn in their gold coins and gold bullion, foreigners continued to redeem pa
Many precious metals firms maintain that because old gold coins are “collectables,” they would not be subject to another gold recall. Some firms say that premiums of at least 10 – 15% automatically make coins “collectibles.” No current Federal law or Treasury Department regulation or directive supports these statements. The statements that specific types of gold coins are not subject to confiscation are based on an Executive Order that President Roosevelt issued in 1933 prohibiting private ownership of Gold Bullion & Gold Bullion coins. The executive order exempted “gold coins having a recognized special value to collectors [of rare and unusual coins],” but it did not define “special value” or “collector”. The evidence suggests that sellers promoting old gold coins propagate this myth because it makes it easier to sell high-priced “old gold” coins. Although Roosevelt’s Executive Order required U.S. citizens to turn in their gold coins and gold bullion, foreigners continued to redeem pa
