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It depends on whose safety deposit box we are talking about here. If it belongs to someone who has defaulted on payments that are legally due to another person or if it belongs to an anti-social element (like a terrorist) the government can confiscate the contents of the safety deposit box (Irrespective of whether it has gold or silver or cash)
Also, the government can confiscate the safety deposit box contents of a bank that has failed/gone bankrupt in order to raise funds to pay the deposit customers who have deposited money with the bank.
Wiki User
∙ 13y ago
Wiki User
∙ 6y agoUnited States of America
Local, state and federal law enforcement can access your safe deposit box with a court order if the court can be persuaded there is reasonable cause. The IRS can place a hold on the contents until any dispute is resolved. Creditors can freeze the assets with a court order. In case of a bank failure the FDIC will transfer the assets to another bank or notify you to remove the contents of your safe deposit box. If your monthly rental is not paid or there is no activity for a certain number of years the state has the right to confiscate the contents and will try to contact the owner. If the owner does not respond the property will escheat to the state.
Under the Patriot Act Homeland Security has authority to confiscate contents of a safe deposit bank under certain circumstances, including bar gold, gold coins, firearms and silver.
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Can the government confiscate gold kept in a bank safe deposit if the bank fails?
Yes. The Government can confiscate any property that belongs to the bank that failed (including buildings, gold bars and other assets) and use it to pay off the money they owe to other customers who have deposited money with the failed bank. Any bank that accepts deposits has a moral responsibility to return the money deposited with them by the customers. And if they fail to do so, the government can interfere to help out the customers
Can you deposit gold into your bank account?
No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.
In addition to the gems and gold what else did the dwarves confiscate?
Mithril
Can the US Government confiscate Gold?
No. Private ownership of gold is now completely legal. However, if the gold is in the form of certain coins (e.g. 1933 double eagles) that are considered to be government property, the answer is not so clear. There's been a lot of litigation over the ownership of some gold collectibles, and at least as of 2011 no definitive rulings have been handed down.
is there a bank or company that will let you stored gold until you are ready to sell it.?
Any bank or credit union will be happy to let you rent a safety deposit box until you are ready to sell the gold.
Four letter word for Gold deposit?
lode
Is there any gold in fort knox and if there is does anyone know how much and who it belongs to?
Short answer: The treasury estimates 147.6 million ounces of gold are held at Fort Knox. The US government owns it. Both of those answers are controversial. Long answer:In 1933, the US government, on order of President Roosevelt, undertook to confiscate most of the gold owned by US citizens and exchange it for paper dollars within two weeks. Safety deposit boxes and vaults were sealed. Subsequently, US citizens were not allowed to own most forms of gold. The paper dollars were soon worth far less than the gold they were traded for. If that action is considered legal, the US government now owns the gold in Fort Knox. The vault was used to hold the treasure beginning in 1937. Before World War II, there were 649.6 million ounces of gold in Fort Knox. The treasury now estimates that only 147.6 million ounces remain. However, the gold has not been inventoried since the 1950's. Some believe there is far less gold in Fort Knox. In 1971, the US abandoned the last remnants of the gold standard. US dollars are now fiat currency, not backed by gold or any other commodity.
Where is the greatest gold deposit found?
virginia city, nevada
Do you have to make a security deposit for horizon gold credit card?
yes
What is metalliferous mining?
Any mineral deposit, from gold to platinum to coal
How do you deposit items in Pokemon Gold?
they just go directly in the bag
What are the safety pracations of gold?
None Its Gold So Its Not Got Radiation
