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<p>[QUOTE=&quot;JD Bartlett, post: 4740401, member: 111992&quot;]Back in the 1930;s the gold was purchased at the &quot;spot&quot; price of just over $20, and then revalued at $35.&nbsp; That $35 rate lasted until the early 1970&#039;s.&nbsp; ONE of the reasons for the nationalization of gold (not a confiscation), was that the law required that the federal reserve maintain a 40% gold reserve ratio to outstanding paper dollars.&nbsp; They could not print more money without going over that 40% requirement. Also, some gold (a lot actually) was exempted from the turn in: numismatic coins, artwork, jewelry, gold needed for industrial, professional and artists use, and each person could retain $100 face value of gold coin.</p><p>I wonder how much one hundred 1-dollar coins would fetch today.[/QUOTE]</p><p><br /></p>

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