Owning gold has a long and complex history in the United States, with periods of heavy regulation and outright bans. Today, individuals have the freedom to buy, sell, and hold gold in various forms, including bullion, coins, jewelry, or certificates representing ownership of physical gold stored in a secure location.

Notable among the periods when owning gold was illegal was the time between 1933 and 1974. President Franklin D. Roosevelt’s Executive Order 6102 criminalized the possession of gold, under the authority of the Trading with the Enemy Act of 1917. Citizens were required to deliver their gold coins, bullion, and certificates to the Federal Reserve. This policy was a radical measure to combat the Great Depression, aimed at increasing the money supply by preventing hoarding of gold.

Today, there are no specific limits on how much gold a person can own in the U.S. However, certain transactions involving large amounts of gold may trigger reporting requirements under IRS Form 8300. Additionally, owning a 1933 Double Eagle gold coin is illegal in the U.S., due to the change in policy that year prohibiting private ownership of gold.

It’s important to note that while the IRS does not automatically know if you buy or sell gold, businesses dealing in gold must report certain transactions to the IRS. Additionally, gold brought into the U.S. may be subject to customs duty, typically around 3.9%.

One loophole to gold confiscation in the U.S. is owning rare or collectible coins, as the 1933 order did not extend to these types of coins. For those interested in investing in gold, it’s crucial to research and work with a reputable dealer.

Whether you are new to gold investing or have been a collector for years, consider the many opportunities that gold ownership presents and start building your financial future today.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The precious metals market is highly volatile, and readers should conduct thorough research before making any investment decisions.