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Daily Gold Bullion Update

December 17, 2009 – Shortly after gold bullion ownership was re-legalized for US citizens in 1971, the US Mint decided to utilize the late famed sculptor Augustus Saint Gaudens’ 1907 rendition of Lady Liberty as the design for the new Gold Eagle bullion coins. This breath-taking, full-length depiction of Lady Liberty was first employed by the US Mint in 1907, and the original Saint Gaudens Double Eagle was minted until the tragic gold bullion confiscation of 1933.

The opposite side of the modern-day Gold Eagle bullion coin features a male American bald eagle, which soars majestically above its’ nest and family. The Gold Eagle bullion coin is most commonly used by investors as a short-term gold investing vehicle, and some investors who utilize this particular strategy have seen substantial profits by lining their portfolios with this coin.

Investors with poorly performing retirement accounts have the option to convert those funds to Gold Eagle bullion coins, and many investors have made this move to offset any possible short-term inflation of US currency. If you don’t believe that short-term inflation is the full extent of our nation’s future problems and if you fear that our great nation will require years or decades to emerge from the current financial catastrophe, it may be wise to opt for the Proof version of the Gold Eagle coin.

The Proof Eagle is the only gold coin that US citizens can place within their IRA that has been deemed to be “non-confiscatable” by our government’s own rules. If our government enacts a second gold confiscation similar to the one that occurred from 1933 to 1971, gold bullion bars and coins, including God Eagle bullion coins, would be seized. Our government paid a nominal price for gold bullion back then and it was a federal crime to sit on raw bullion.

Some coins were exempted from confiscation by President Franklin Roosevelt’s Executive Order 6102, Section 2-B. The Proof Eagle is a “coin of recognized value to collectors of rare and unusual coins,” which Roosevelt’s order explicitly mentioned were not subject to seizure. If you feel somewhat vulnerable within or outside of your retirement account, don’t be afraid to join the millions of investors who have used Gold Eagle bullion and Proof coins to protect and increase their spending power throughout these tumultuous financial times. 

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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