Nobody knows you have it but it is not worth much if there is no resell market. Are you going to drive to Canada to sell gold, the Mounties love going through American’s cars looking for undeclaired items.
I don’t expect this to happen but realize there is risk in everything, even gold, even if Obama is there to screw the economy.
Who says I’m going to sell it? I’m going to trade it for other things, or leave it to my kids, either way, the government is never going to see a penny from it.
When you look at the spectrum of things that could happen, the risk of gold being useless or worthless seems to come down to these scenarios:
1. The Sturmabteilung know you have it and where you have it, and Der beliebte Führer has them come after it under (superior) force of arms;
2. Orderly commerce breaks down (with the ensuing civil disorder) and, for some reason, nobody wants to trade goods for precious metals.
You get to judge the probabilities of these scenarios, or any others that will make a precious metals stash useless.
I wish to clarify slightly my second scenario. By the cessation of “Orderly Commerce” I meant that trade using worthless government money substitutes (paper notes, dollar denominated accounts, etc) would cease to exist.