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Message:: [QUOTE="19Lyds, post: 1942107, member: 15929"]Unlike paper notes which literally have no value, coins at the time did not have to be "monetized" as these were made by the United States Mint under the guidance of the US Treasury department. Federal Reserve Notes, on the other hand, DO have to be monetized by the US Government since they represent a promissory NOTE which is collectible by the Federal Reserve Bank which happens to be a privately held institution whose inly relationship with the Federal Government is that the government is the solitary customer. In short, for every billion one dollar notes printed, the Federal Government has to agree to "borrow" that amount from the Federal Reserve Bank before the notes can be issued. BTW, the Federal Reserve Bank is as much a government entity as Federal Express of Federal Mogul. The "monetization" of the 1933 Saint sold at auction was more or less a "thumbing of the nose" gesture at the parties involved since the governments hands were literally tied at having to sell the coin which they wanted to keep. The granting of the export permit more or less legalized the coin. An act of frustration if you will. At least, that's what I understand.[/QUOTE]