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Old Jun 29, 2009 | 3:40 pm
  #195  
FlyingHoustonian
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Originally Posted by scoow
I thought gold coins were declared no longer legal tender in the 1930s. Was that ever revised?
yes it was. All gold was declared illegal to own back then, except for coins "of numismatic value" and certain jewelry items (it was more complicated than that but that is a dirty summary). By the early 70s all restrictions on gold ownership were dropped.

There was some issue with the 1933 Double Eagle $20 gold piece, which recently came to auction. The US seized the coin when it came to auction (it hard originally gone to Egypt as a gift to King Farouk)and a deal was worked out where this coin was declared legal tender for auction with the US gov't getting part of the proceeds, but the other 1933 $20 coins that escaped the mint illegally, are not legal tender. The 1933 $20 were never supposed to get into circulation (like the 64 peace dollars and 74 aluminum cents)

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