To answer the question can gold confiscation happen again, we have to look at the first example of gold confiscation in the United States of America. The first gold confiscation Executive Order 6102 was signed by President Franklin D. Roosevelt on April 5, 1933. This order roughly said that most gold coins, gold bullion and gold certificates were to be turned in to the Federal Reserve before May 1, 1933. If an individual didn’t comply they would be fine up to $10,000 (gold was $20 per troy ounce back then) or up to ten years in prison; or both.

Also individuals were allowed to own up to 5 troy ounces of gold each. The government back then and now didn’t have the resources to enforce this order (Not to mention the order was and is unconstitutional); and only one person was ever indicted for not complying with the order. Frederick Barber Campbell who had 5000 ounces of gold deposited in a bank, tried to sue the bank for not allowing him to withdraw his 5000 ounces of gold. After this lawsuit being filed, the federal prosecutors knew that Mr. Campbell didn’t comply with the order. The prosecution failed to put Mr. Campbell behind bars, but his 5000 ounces of gold was never returned to him.

The truth is most of the gold that was confiscated in 1933 was voluntarily turned over. There is no practical way of knowing how much individuals refused to comply with the order. Today just like in the 1930’s the government does not have the resources to indicate how much physical gold an individual may have. That being said if the government did order the confiscation of gold again, like the first time most of the gold they would collect would be voluntarily turned over. Gold because of its ease to hide would cost the government more resources going after the individuals that refused to comply, than the gold they would collect from them. Gold confiscation even though tried in the past, was impractical back then and would be impractical today.