Pre 1933 gold coins

Discussion in 'Bullion Investing' started by Elapid, Nov 7, 2012.

  1. Elapid

    Elapid Member

    We can buy pre 1033 gold coins that were compensated by the Government. Did the Government re-issue the coins when Americans were allowed to hold gold again? Or are all these coins we buy hiding in other countries? My understanding is that these gold coins were in the Government control, so how did they suddenly appear om the market?
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  3. Cazkaboom

    Cazkaboom One for all, all for me.

    According to Executive Order 6102 Section 2 subsection B:
    (b) Gold coin and gold certificates in an amount not exceeding in the aggregate $100 belonging to any one person; and gold coins having a recognized special value to collectors of rare and unusual coins.

    Coins having a value to collectors (Not hoarders) were considered legal, so was owning a maximum of 5 double eagles to the average joe.
  4. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    I think a lot of the coins around today were repatriated from Europe. Others probably know more about this than I do.
  5. silverfool

    silverfool Active Member

    that's where a large % of them come from. before '33 accounts were settled in gold so tens of thousands of them ended up in banks in Europe. they started being brought back in a big way in the 70s.
  6. medoraman

    medoraman Supporter! Supporter

    I agree as well. I believe most of the early gold up until the 1850's or so, and almost all of the small denomination gold, were from coins that stayed in the US. However, from what I have read, most of the late date gold coins that we now own were overseas in 1933 so therefor saved from being melted down and place in Ft Knox.

    Btw, everyone knows Ft Knox is almost all coin gold, and not 99% pure, right? They simply melted down the coins and cast into ingots, without purifying the gold.
  7. lonegunlawyer

    lonegunlawyer Numismatist Esq.

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