How Much Gold Can You Legally Own in the US?
As a passionate gamer and content creator lucky enough to earn gold coin-level profits, I often get asked if there‘s a limit on how much gold I can stash before the feds show up. The short answer is nope! You can legally own as much gold as you want with no restrictions in the US.
A History of Gold Ownership Laws
Gold wasn‘t always so easy to hoard here. Up until 1974, average folks couldn‘t legally own bullion gold at all without a special license. And even before that in 1933, president FDR signed an executive order confiscating all gold coins and bullion. The only exception was rare collectible coins.
Key Date For US Gold Ownership
| Year | Law | Effect |
|---|---|---|
| 1933 | FDR‘s gold confiscation order | Private gold ownership banned |
| 1974 | Ownership restrictions lifted | Private ownership legalized |
| Current | No federal limits | Buy all the gold you want! |
Nowadays, private gold ownership is fully legal with no limits. The only official reporting requirement is that dealers must file paperwork on bullion transactions over 1 kilo. So fellow gaming coin farmers – buy up those gold bars to your heart‘s content!
Securing Your Epic Gold Stash
With no legal limits on gold ownership, games like Fortnite have turned virtual profits into heavy real-world holdings for top creators. Where‘s the safest place to store millions in gold bars and rare coins?
- Private vaults from reputable dealers offer maximum security. Costs vary based on value stored and withdrawal frequency, but expect to pay at least 0.5% of your holdings per year. For my first $10 million in gold, I‘d spring for private vaults before considering self-storage.
- Home storage introduces risks from burglars and natural disasters. Safes can be compromised and houses can burn down. I‘d only keep a fraction of my overall gold at home in a sturdy safe as an emergency fund.
- Safe deposit boxes at banks provide modest protections but may fall victim to bank failures. The FDIC only covers $250k in losses, likely far below most gaming gold fortunes. I would not rely solely on safe deposit boxes for irreplaceable rare gold coins.
- Self-storage facilities are a tempting budget option. But problems range from facility integrity failures to employee theft. With no insurance covering gold, self-storage is super risky for large holdings.
Call me paranoid, but after grinding thousands of hours to amass my in-game wealth, I want my real gold stash getting Fort Knox-level security!
Allocating Gold In Your Investment Portfolio
With gold unlimited legally, how much should we allot as content creators? Conventional wisdom says limiting gold to 5-10% provides adequate diversification without overexposure. But as gamers, our income depends heavily on fickle internet trends. I allocate a bolder 25% to gold as a hedge! Here‘s my logic:
- Outsized gold position offsets gaming industry volatility. Market downturns affecting tech stocks often bypass precious metals.
- Global instabilities makes me fear fiat currency devaluation over the long-term. Gold is the time-tested safe haven if paper money loses efficacy.
- My youth grants longevity to ride out dips while gold‘s intrinsic value grows. Short-term drops don‘t worry me compared to senior investors.
- If the web community moves on from current darlings, my gold bars remain desirable. Just like Mario retaining appeal after generations!
Obviously you must consider your personal risk tolerance and diversification needs. But with federal law green-lighting unlimited gold property, why not stake your claim like a Super Mario coin stash? Fortune favors the bold!
I hope this overview from a gamer perspective helps anyone curious about building their gold position. Feel free to ping me with any other questions. Just remember – no limits, so buy and store at will within reason!
