In this weekend report, I look into coin collecting or numismatics. I look into the difference between bullion coins and bars and numismatic coins.
I look at the history of the U.S. monetary system and specifically the year 1933 when Presiden Franklin Roosevelt issued Executive Order 6102. This EO made the ownership of monetary gold coins and bars illegal and it remained in the books until December 31st, 1974.
Collectable or numismatics gold coins were exempted from Executive Order 6102 and the reason for that was that the Secretary of the Treasury at the time, William H. Woodin, was a coin collector and managed to put the exemption in the EO.
My conclusion is that even though gold confiscation is a possibility I do not think it will happen again as nowadays gold is not part of the monetary system and a much smaller proportion of the U.S. population owns gold. The collectable exemption could also be scrapped governments can pretty much do whatever they want at the end of the day.
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