U.S. Mint Slows Production of Proof Gold Coins

The U.S. Mint will produce a significantly lower number of Proof gold American Eagles in 2014, according to a Mint spokesman’s statement made earlier this week. Just 35,000 one-ounce coins, 35,000 tenth-ounce coins and 25,000 each of the half and quarter-ounce Proof Eagle gold coins will be minted, and this news could cause of number of issues for multiple entities.

Precious Metal IRA owners often choose the Proof coins over bullion when selecting products for their portfolios, because they have far more profitable than bullion at times and they are the only collectible coins the IRS allows for IRA storage. In the event of a gold confiscation and/or a retirement account seizure those collectible coins could be protected from confiscation as per Executive Order 3012 Section 2-B.

If investors are unable to buy Proof gold coins for their IRAs due to an affordability issues or a lack of supply IRA custodians that manage Gold Coin IRA plans could be in trouble. What’s more, the custodians could have to deal with the U.S. government showing up to confiscate bullion held by those custodians’ clients in IRA depositories.

The government, by some estimates, confiscated 1.8-4.2 million ounces of gold by means of citizen surrender. Homes were not raided and safe deposit boxes were not broken into, but getting caught with the gold was a felony punishable by 10 years in prison or $10,000 – in 1933 dollars. Many of today’s investors want the Proof gold coins for this exact reason, because collectible coins were deemed non-confiscatible by President Franklin D. Roosevelt.

For a deeper understanding of the 1933 gold confiscation and how it affects gold coin IRA investors today call directly at 1-800-425-5672 or scroll to the form below this article to select your complimentary gold coin investing guides.

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