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Joebear's Blog

25 Aug 2015

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Coins | Joebear

On the Facebook page the other day someone invoked the 1996 UK treasure act as a concern for collectors all over. How does that work? Also the German law won't affect us I believe since we are not yet Germany. I remember hearing of our government confiscating PM's in 1933, but the collectors are so many with so much material it would take a massive effort to retrieve goods that would easily be stashed or removed to other countries. Add that many are armed and I think there is a good case for collectors being safe for some time to come.

Comments

Pliny The Elder

Level 5

I keep my millions buried deep within my imagination, just let them try and get that. :)

Longstrider

Level 6

If the government take it, it is indeed CONFISCATION!!

user_7180

Level 5

The treasure act does appear to be a legal method for the government to "confiscate" (receive payment that someone else decides) anything treasure hunters find of real value. If one country can do it you can bet others will follow.

Joebear

Level 4

I'll bet they won't unless the collection is very large and valuable. But then who cares about a detail like that when I am possibly the lowest on the Totem pole. My bet is on silver.

Joebear

Level 4

Thanks for clarifying that. Silver all the way.

Blue Ridge Guy

Level 2

The government did not confiscate PMs, only gold. Silver continued to be legal tender many more years and ownership of it has never been banned. And I am not sure confiscation is the correct term as that usually implies seizur without remuneration. Gold was taken, but in exchange for the current balue at the time. The fact that gold was soon revaluted does give it ia feeling of confisaction, I agree.

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