Editor’s Note: The quote from Donald Trump in the beginning of this article was clearly intended as a joke. The author knows this and does not press the issue.
“I want to be a dictator for one day,” proudly declared former President Donald Trump to the New York Young Republican Club on December 9, 2023. Two hundred and forty years earlier on December 23, 1783, General George Washington humbly informed Congress that he did not want to be a dictator – not even for one moment. That day is when the victorious commander-in-chief willingly gave up power at the end of the American Revolution.
Washington returning his military commission to Congress is probably the most important event in American history. It upheld the Revolution’s promise to establish free government by the consent of the governed and ensured the survival of the United States as we know it.
History is filled with tales of conquering generals turned dictators like Julius Caesar, Oliver Cromwell, and Napoleon Bonaparte. Washington was unique. Unfortunately, unlike July 4, 1776, the date December 23, 1783 isn’t ingrained in the minds of many Americans. Yet, especially given recent talk of an American Caesar (whether Red or Blue), it should be. Washington made dictatorship un-American.
It didn’t have to go this way. Two years after the 1781 victory at Yorktown, things were falling apart. A weak and dysfunctional Congress was broke. The undersupplied Continental Army hadn’t been paid in years. As a result, a rumored officers’ coup potentially threatened the nation with a military dictatorship, or at least the destruction of civil-military relations. By June 1783, resentful soldiers encircled Independence Hall (the birthplace of the Declaration of Independence) with bayonets drawn. The mutiny drove Congress from the capital of Philadelphia.
Across the Atlantic, King George III wondered if Washington would assume power. British Commander-in-Chief General Guy Carleton was convinced that in America “a Monarchy must of necessity take place.” Closer to home, Continental Army officer Lewis Nicola had even previously written to Washington about “the title of king.”
Given the context, Washington’s actions were even more profound. As he headed to Annapolis, Maryland, where the Congress had fled after the Philadelphia mutiny, Washington was not crossing the Rubicon. The only thing on the general’s mind was his “intention of asking leave to resign [to Congress] the Commission I have the honor of holding in their Service.” Since June 19, 1775, when he was first commissioned by Congress as commander-in-chief of the Continental Army, the Virginian had affirmed the supremacy of civilian government. Whether he was fighting campaigns, facing cabals to remove him, pulling his officers back from launching a conspiracy, or suppressing a mutiny, he never forgot that he served Congress and the people.
At noon on December 23, Washington entered the packed Old Senate Chamber in the Maryland State House for his “solemn resignation.” Onlookers jostled for position on the floor, as the upstairs gallery overflowed with the city’s most prominent ladies. With his head uncovered, Washington bowed before Congress – who were all seated with their hats still on – in a display of civilian supremacy.
Overcome with emotion, Washington’s “voice faltered and sunk” as he thanked Congress for the “trust committed to” him and spoke of his love for “the Interests of our dearest Country.” Before concluding, he needed to pause and collect himself, “I here offer my Commission, and take my leave of all the employments of public life.” The room burst into tears.
Washington’s surrender was so rare it stunned the world and helped label the U.S. as “a respectable Nation.” Giving up power was “so new in the present times, or rather unknown,” gushed Polish poet Julian Niemcewicz. You had to go back to Roman General Lucius Quinctius Cincinnatus surrendering his sword in 458 BC to find a comparable example. And even then Cincinnatus was a dictator – even if it was just for 16 days – before he gave up power and returned to his plow.
Perhaps the most fitting testimony came from a recent enemy, George III who simply called Washington “the greatest man in the world” for his resignation.
The world indeed watched with awe. But Washington’s act became even more venerated as others could not follow his example. The South American “Liberator” Simón Bolívar overthrew Spanish rule but assumed dictatorial powers in Peru and Venezuela. Haitian revolutionary Jean-Jacques Dessalines freed his island before being made emperor by his generals. Napoleon Bonaparte effectively destroyed the ideals of the French Revolution when he crowned himself emperor. In exile, a bitter and defeated Napoleon muttered, “They wanted me to be another Washington.” But it’s not easy being another Washington. His legacy isn’t based on accumulating power – it’s about giving it up for the good of the nation.
Accepting Washington’s commission in Annapolis, Congressional President Thomas Mifflin hoped this example would “continue to animate remotest ages.” It did. General Washington set a precedent for the peaceful transition of power that was expanded and reaffirmed when the unanimously elected President Washington left office after only two terms – when he could have retained the office for life.
Today you can visit a painting of Washington’s resignation by Revolutionary War veteran John Trumbull in the Rotunda of the U.S. Capitol. It stands as a symbol that in America, dictatorship (for any length of time, whether one day or “4Eva”) has been utterly rejected for 240 years and counting.
So in the hustle and bustle of this most wonderful time of the year, take a moment to remember the greatest moment in American history, “the greatest man” George Washington and his greatest gift – the gift that keeps on giving.
Craig Bruce Smith is a member of the Jack Miller Center’s teaching network and the author of “American Honor: The Creation of the Nation’s Ideals During the Revolutionary Era.” Follow him on social media at @craigbrucesmith. For more, visit www.craigbrucesmith.com. All views are the author’s.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.