Bullion Is a "Privilege"
The United States Government holds the legal right to confiscate all gold bullion within its territory, with the exception of rare and unusual gold coins of worth to collectors. There have been four instances where seizures have occurred, the most recent in 1933 with President Franklin Roosevelt's signing of Executive Order 6102. The most common reason for confiscations is to promote market volatility during times of hoarding. Most experts believe that only pre-1933 gold coins are considered untouchable by the government, while still being one of the few privately traded investments.