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<p>[QUOTE=&quot;kaparthy, post: 64707, member: 57463&quot;]$100 back then was five months&#039; wages.</p><p><br /></p><p>The massive loophole for numismatic gold allowed everything before 1933.&nbsp; The one exception -- from an order following this -- was a detailed description forbidding the hoarding of quarter eagles. </p><p><br /></p><p>Yes, it was wrong.&nbsp; Yes, it was typical of a government that placed &quot;social needs&quot; (however defined) above individual rights.&nbsp; But no, it was not the end of the world and even after this decree, people still bought and sold gold coins openly and legally, benchmarking their prices publicly against the London Spot Price for Gold.&nbsp; So, no, the reality of this law is that all it did was move gold from the banks to the federal reserve in order to shore up the American dollar on the international market.&nbsp; </p><p><br /></p><p>Again, yes, it was wrong.&nbsp; The more salient question is: What would you have done about it?&nbsp; The historical answer is: Nothing.&nbsp; People went about their lives just as before.&nbsp; For the average person, gold was never illegal -- and again, gold coins were bought and sold openly with their prices pegged to London bullion.[/QUOTE]</p><p><br /></p>

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