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<p>[QUOTE=&quot;scottishmoney, post: 2701260, member: 12789&quot;]Before the call in, gold was at $20.67 an ounce which is the price at which it was recalled at.&nbsp; As soon as the government had accumulated enough gold and the recall was largely a thing of the past the price of gold was raised to $35 an ounce. So in effect the dollar lost approximately 75% of it&#039;s value relative to gold.&nbsp; Obviously the Federal Reserve printed up literally hundreds of millions of dollars in Series 1934 notes to replace all the gold, gold certificates etc.</p><p><br /></p><p>The lucky ones were the ones well off enough to have the means to ship their gold off to Europe - think Rockefellers, Vanderbilts, Astors, Morgans etc.</p><p><br /></p><p><br /></p><p><br /></p><p>William Woodin was the Secretary of the Treasury when all the recall happened.&nbsp; He was also an avid coin collector that somehow managed to buy patterns, by trading at face value.&nbsp; The one good thing he did before he croaked in 1934 was made sure that there was a provision for coin collectors to save rare gold coins.&nbsp; Of course he was really looking out for his own holdings but collectors in general benefited.[/QUOTE]</p><p><br /></p>

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