Blast From The Past: Gold & Double Eagles, 1968

NY Times, March 3rd 1968: An article talking about one of the periodic gold flare-ups of the 1960's that resulted in buyers/hoarders being willing to pay way above market prices for $20 Double Eagles, including Saints.

DEs that normally sold for $50 were selling for $82 at Stacks, with other dealers reporting sales at just under $100. Gimbel's, the department store, had a coin department and they stopped selling coins during the run-up (as did Stack's) but before they stopped they were selling them for $75.

The Stack referenced in the article is Benjamin Stack.

I thought the discussion in the article towards the end talking about how holding the coins was NOT illegal based on the 1934 and 1954 law changes was interesting.

 

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The reporter may have been out of his element citing those laws as an "OK" to hold gold coins.

But we do know there was always a numismatist exemption since 1933, it just wasn't clearly enunciated for the common folk.