Question: First, I'm a huge fan of your website. I find myself reading page after page of great information.
My question is about storage. You recommend a safe deposit box for a majority of your bullion, but are you concerned
about the possibility of your gold being confiscated? Keep up the great work!!
©iStockphoto.com – 3pod
Answer: Hello! First and foremost, thank you so much for the kind words. I work really hard on
GoldWhy, often at the expense of sleep. I take a lot of pride in my site and always
enjoy working on it when I get home from my job. Getting great questions like this keep things fun! You pose a really critical
question that spawned a lot of thought on my end, eventually influencing me to write a brand new article all about protecting
gold confiscation. Thank you for the inspiration to write
To summarize the article with a focus on your question: Yes, I am worried about a possible government gold confiscation.
I have read horror stories on the Internet about banks having orders from the government to freeze and hand over all
safe deposit box contents to them if ordered to do. This may sound crazy, but we must not forget that gold was confiscated
from hard-working, prudent investors in 1933. I'm a gold bug at heart and I haven't met a gold bug that does not worry.
However, despite this possibility of government gold confiscation, I see clear ways to diversify away your risk, easing the pain
in the event of a real life gold confiscation. A few ideas: Store your gold in multiple safe deposit boxes at different
banks, own shares of gold mining companies, hide gold
in your home and on your person (but not too much), and consider overseas gold programs such as The Perth Mint. Hope this helps!
Have a gold question? Don't hesitate to ask me any gold question.
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