Hobbies And Interests
Current Law
Since 1974, it has been legal for U.S. citizens to own any amount of gold in any form, including coins minted in other countries, as well as to buy and sell them as they see fit.
Previous Restrictions
Between 1933 and 1974, it was unlawful for U.S. citizens to possess certain forms of gold. The ban did not include coins of "special value to collectors," but this term was not defined, and in any case the ban has been completely null and void for more than 35 years.
Seizure of Assets
During the course of legal proceedings against individuals, federal, state or local law enforcement may, under certain circumstances, be authorized to seize assets from an individual. This most commonly occurs in drug, money laundering and racketeering cases. The Internal Revenue Service is also authorized to seize assets for nonpayment in tax cases.
Seizure of Gold Coins
Foreign gold coins are not specifically mentioned in the policies that govern asset seizures, but as valuable assets it is possible that they too could be seized on a case-by-case basis, along with more commonly-held assets such as cash, automobiles and real estate.
No Seizure
There is no law or law enforcement mechanism in place, or even being currently considered, for the seizure (or confiscation) of foreign gold coins, or gold coins, as an asset class from the U.S. population at large.
Future Considerations
The law regarding gold ownership in the United States could be changed by act of the U.S. Congress (which repealed the older ban) in the future, but given the popularity of gold ownership since 1974, this is probably unlikely.