From what I understand, this really depends on the border Gard.
I've heard lots of stories about people claiming it, and being able to keep it. But I've also heard an equal amount of stories about people getting their stuff taken away.
See if you can do a search..this isn't the first time this has been discussed. You should be able to find some feedback from people who have tried it.
RIP BigJim33 & GearedUp: You are sorely missed my friends.
Hindsight is always 20/20. But looking back it's still a bit fuzzy.