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fiatboy
Administrator
912 Posts |
 Posted - 12/26/2007 : 19:44:37
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There's something that's been puzzling me, and I thought I'd run it by everyone here. It's from a letter that my grandfather wrote before he died. Here's an excerpt:
"...this was when the country went off the Gold Standard...we went to the bank and were told that no one was allowed to keep more than $30.00 in gold coins...."
I have never heard of this---that people could indeed keep some gold, but no more than $30.00. Anyone else ever heard of this? I'm thinking it's just an anomaly. Perhaps some of the local bankers had sympathy for the people and let them keep some. Anyone have any insight on this matter?
For what it's worth, my grandfather was born in 1919 and was therefore old enough to remember the gold confiscation. And he never turned any in, too.
(And interestingly, whenever he wrote the word Gold, he capitalized it.)
Thanks for taking a looksee. Maybe some day I'll figure out what this is all about.
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"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/26/2007 : 20:14:52
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My great-grandmother (b.1912 d.2005), once told me that her father and uncles hid all of the family gold fortune in the old slave quarters on the property. Of course I instantly thought of a treasure hunt, but to no avail, they went back and recovered it all later. She told me it was common practice to just not turn it in. She didn't know of any instance where someone she knew was raided or whatever. Remember she was 20 or 21 when it went into effect, and being a woman, she was probably left out of the loop so to speak.
Never heard of the $30 limit. Very interesting. I'm curious, what else did he have to say about it? Sounds like he was a very interesting man.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 12/26/2007 : 20:32:02
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I think there was an allowance to the amount of gold a person could have after the big gold turn in of 1933 (or the 33 theft if you prefer.)
Sadly, I cannot find the exact details about this.
A bit off topic but worth mentioning.
Per the book Coin Clinic by Alan Herbert
P.112 $40 million in bullion, gold coins & gold certificates were turned in-
-but about $311 million in coins and $217.4 million in gold certificates were never redeemed, only about 7% were handed in to the government.
Looks like even back then the public had no interest in submitting to the whims of Uncle Sam.
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fiatboy
Administrator
912 Posts |
Posted - 12/26/2007 : 21:12:23
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quote:
the book Coin Clinic by Alan Herbert
I highly recommend this book!
quote:
I'm curious, what else did he have to say about it? Sounds like he was a very interesting man.
Thanks for the kind words. My grandfather didn't say too much else about gold, but he did mention that the family's large sterling silverware set kept them afloat financially during the Great Depression.
I remember seeing some of my family's gold coins that escaped confiscation (unfortunately, I didn't inherit any of them...grrrrr..... ), and most of them were $10 Eagles from 1847. I was struck by how worn a few of them were. It's strange to think that gold coins actually circulated at one time. Today, our conception, or rather, perception of money is very different from that of our fathers, grandfathers, and great-grandfathers. The change didn't happen over night, and in fact has taken several generations, and that is why it seems to fall below the radar. The Fed in 1913, Gold in '33, Bretton Woods in '44, Silver in the sixties, Nixon and the gold window in '71, Bretton Woods II, gold ownership resumes, the metals spike, Paul Volcker, Ron Paul, coinflation, melt ban, etc etc. On and on till today----and here we are sorting pennies.
Gold used to circulate...blows my mind. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/27/2007 : 01:08:07
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I guess I am guilty of hoarding some of those unredeemed gold certificates, as well as a few of the older gold coins.. though I was not around in the thirties to do it.
I seem to remember reading somewhere that numismatic gold coins were exempted from the turn in. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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fiatboy
Administrator
912 Posts |
Posted - 12/27/2007 : 02:36:47
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quote:
I seem to remember reading somewhere that numismatic gold coins were exempted from the turn in.
I've heard this many times, but I've never seen any direct proof that it's true. If anyone can shed some light on this, I'd be very greatful. It very well may be true, but I wonder what would be considered numismatic gold in 1933? Today, numismatic gold is usually defined as old European or pre-1933 gold. In '33, all U.S. gold was pre-'33. Pre-Civil War gold still circulated up until 1933---albeit mostly among wealthier people and in the banking system. The concept of "bullion" didn't really exist as it does today. Maybe the exception applied to really old gold coins like Spanish coins and pre-1812 stuff? I don't know.
If I only had a time machine..... |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 12/27/2007 : 16:27:11
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The direct proof is easy to find - Executive Order 6102. The word numismatic is not used. "Coins having recognized special value to collectors" is the phrase.
Executive Order 6102
Signed by FDR April 5, 1933
The juicy parts:
quote:
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:
...Blah...
...Blah...
...Blah...
(b) Gold coin and gold certificates in an amount not exceeding in the aggregate $100.00 belonging to any one person; and gold coins having recognized special value to collectors of rare and unusual coins.
Safe deposit boxes at a bank were of no use. They could only be opened in the presence of an Internal Revenue agent. If you had your coins there, eventually they would be taken.
Shortly after the gold was confiscated, the stroke of a pen devalued the dollar from its historical rate of $20.67 per gold ounce to $35 per ounce for foreign holders of US dollars. So, a foreign business wanting to convert its $1000 of US paper into gold (Remember, GOLD was money, then) watched it turn into $590.
In the aftermath, the international banking system was completely eviscerated. It's what made the Great Depression truly GREAT.
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Trust the government? Ask an Indian. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/27/2007 : 16:37:25
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$100 was the limit. Also, the original act did mention an exemption for rare coins. There was an ammendent made in 1934 to clarifry the definition of rare. I will try to find it and post it. See bold below:
The Original Gold Confiscation Of April 5, 1933
From: President of the United States Franklin Delano Roosevelt
To: The United States Congress
Dated: 5 April, 1933
Presidential Executive Order 6102
Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled
An Act to provide relief in the existing national emergency in banking, and for other purposes~',
in which amendatory Act Congress declared that a serious emergency exists,
I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of the order:
Section 1. For the purpose of this regulation, the term 'hoarding" means the withdrawal and withholding of gold coin, gold bullion, and gold certificates from the recognized and customary channels of trade. The term "person" means any individual, partnership, association or corporation.
Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:
(a) Such amount of gold as may be required for legitimate and customary use in industry, profession or art within a reasonable time, including gold prior to refining and stocks of gold in reasonable amounts for the usual trade requirements of owners mining and refining such gold.
(b) Gold coin and gold certificates in an amount not exceeding in the aggregate $100.00 belonging to any one person; and gold coins having recognized special value to collectors of rare and unusual coins.
(c) Gold coin and bullion earmarked or held in trust for a recognized foreign government or foreign central bank or the Bank for International Settlements.
(d) Gold coin and bullion licensed for the other proper transactions (not involving hoarding) including gold coin and gold bullion imported for the re-export or held pending action on applications for export license.
Section 3. Until otherwise ordered any person becoming the owner of any gold coin, gold bullion, and gold certificates after April 28, 1933, shall within three days after receipt thereof, deliver the same in the manner prescribed in Section 2; unless such gold coin, gold bullion, and gold certificates are held for any of the purposes specified in paragraphs (a),(b) or (c) of Section 2; or unless such gold coin, gold bullion is held for purposes specified in paragraph (d) of Section 2 and the person holding it is, with respect to such gold coin or bullion, a licensee or applicant for license pending action thereon.
Section 4. Upon receipt of gold coin, gold bullion, or gold certificates delivered to it in accordance with Section 2 or 3, the Federal reserve bank or member bank will pay thereof an equivalent amount of any other form of coin or currency coined or issued under the laws of the Unites States.
Section 5. Member banks shall deliver alt gold coin, gold bullion, and gold certificates owned or received by them (other than as exempted under the provisions of Section 2) to the Federal reserve banks of there respective districts and receive credit or payment thereof.
Section 6. The Secretary of the Treasury, out of the sum made available to the President by Section 501 of the Act of March 9, 1933, will in all proper cases pay the reasonable costs of transportation of gold coin, gold bullion, and gold certificates delivered to a member bank or Federal reserve bank in accordance with Sections 2, 3, or 5 hereof, including the cost of insurance, protection, and such other incidental costs as may be necessary, upon production of satisfactory evidence of such costs. Voucher forms for this purpose may be procured from Federal reserve banks.
Section 7. In cases where the delivery of gold coin, gold bullion, or gold certificates by the owners thereof within the time set forth above will involve extraordinary hardship or difficulty, the Secretary of the Treasury may, in his discretion, extend the time within which such delivery must be made. Applications for such extensions must be made in writing under oath; addressed to the Secretary of the Treasury and filed with a Federal reserve bank. Each applications must state the date to which the extension is desired, the amount and location of the gold coin, gold bullion, and gold certificates in respect of which such application is made and the facts showing extension to be necessary to avoid extraordinary hardship or difficulty.
Section 8. The Secretary of the Treasury is hereby authorized and empowered to issue such further regulations as he may deem necessary to carry the purposes of this order and to issue licenses there under, through such officers or agencies as he may designate, including licenses permitting the Federal reserve banks and member banks of the Federal Reserve System, in return for an equivalent amount of other coin, currency or credit, to deliver, earmark or hold in trust gold coin or bullion to or for persons showing the need for same for any of the purposes specified in paragraphs (a), (c), and (d) of Section 2 of these regulations.
Section 9. Whoever willfully violates any provision of this Executive Order or these regulation or of any rule, regulation or license issued there under may be fined not more than $10,000, or,if a natural person may be imprisoned for not more than ten years or both; and any officer, director, or agent of any corporation who knowingly participates in any such violation may be punished by a like fine, imprisonment, or both.
This order and these regulations may be modified or revoked at any time.
Franklin D. Roosevelt
President of the United States of America
April 5, 1933
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Edited by - horgad on 12/27/2007 20:01:31 |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/27/2007 : 16:44:59
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White House Statement on Returning Gold to Federal Reserve Banks. April 5, 1933
In the past weeks the country has given a remarkable demonstration of confidence. With the reopening of a majority of the banks of the country, currency in excess of $1,200,000,000, of which more than $600,000,000 was in the form of gold and gold certificates, has been returned to the Federal Reserve Banks.
Many persons throughout the United States have hastened to turn in gold in their possession as an expression of their faith in the Government and as a result of their desire to be helpful in the emergency. There are others, however, who have waited for the Government to issue a formal order for the return of gold in their possession. Such an order is being issued today.
The order authorizes the Secretary of the Treasury to issue licenses for obtaining gold for industrial requirements, exportation of gold for trade purposes, and other legitimate needs not involving hoarding. With these exceptions, the order requires all persons to deliver to one of the Federal Reserve Banks, branches, or agencies, or to a member bank, in exchange for other currency, their gold coin, gold bullion, and gold certificates other than gold coin and gold certificates not exceeding $100 and gold coin having a recognized special value to collectors of rare and unusual coins. While the order is in effect persons who come into possession of gold not covered by the exceptions set forth in the order will also be required to exchange it for other currency. The order is limited to the period of the emergency.
The chief purpose of the order is to restore to the country's reserves gold held for hoarding and the withholding of which under existing conditions does not promote the public interest.
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Edited by - horgad on 12/27/2007 20:10:23 |
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fiatboy
Administrator
912 Posts |
Posted - 12/27/2007 : 17:59:05
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THANK YOU for the posts, everyone.  |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/27/2007 : 19:59:36
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Executive Order 6260, August 28, 1933.
RELATING TO THE HOARDING, EXPORT, AND EARMARKING OF GOLD COIN, BULLION, OR CURRENCY AND TO TRANSACTIONS IN FOREIGN EXCHANGE
By virtue of the authority vested in me by section 5(b) of the act of October 6, 1917, as amended by section 2 of the act of March 9, 1933, entitled "An act to provide relief in the existing national emergency in banking and for other purposes ', I, FRANKLIN D. ROOSEVELT, PRESIDENT of the UNITED STATES OF AMERICA, do declare that a period of national emergency exists, and by virtue of said authority and of all other authority vested in me, do hereby prescribe the following provisions for the investigation and regulation of the hoarding, earmarking, and export of gold coin, gold bullion, and gold certificates by any person within the United States or any place subject to the jurisdiction thereof, and for the investigation and regulation of transactions in foreign exchange and transfers of credit and the export or withdrawal of currency from the United States or any place subject to the jurisdiction thereof by any person within the United States or any place subject to the jurisdiction thereof.
SEC. 2. DEFINITION5. As used in this order the term "person" means an individual, partnership, association, or corporation, and the "term United States" means the United States and any place subject to the jurisdiction thereof.
SEC. 3. RETURNS. Within 15 days from the date of this order every person in possession of and every person owning gold coin, gold bullion, or gold certificates shall make under oath and file as hereinafter provided a return to the Secretary of the Treasury containing true and complete information relative thereto, including the name and address of the person making the return, the kind and amount of such coin, bullion, or certificates held and the location thereof, if held for another, the capacity in which held and the person for whom held, together with the post-office address of such person,' and the nature of the transaction requiring the holding of such coin, bullion, or certificates and a statement explaining why such transaction cannot be carried out by the use of currency other than gold certificates,' provided that no returns are required to be filed with respect to-
Gold coin, gold bullion, and gold certificates in an amount not exceeding in the aggregate $100 belonging to any one person.'
Gold coin having a recognized special value to collectors of rare and unusual coin,'
Gold coin, gold bullion, and gold certificates acquired or held under a license heretofore granted by or under authority of the Secretary of the Treasury, and
Gold coin, gold bullion, and gold certificates owned by Federal Reserve banks.
Such return required to be made by an individual shall be filed with the collector of internal revenue for the collection district in which such individual resides, or, if such individual has no legal residence in the United States, then with the collector of internal revenue at Baltimore, Md. Such return required to be made by a partner ship, association, or corporation shall be filed with the collector of internal revenue of the collection district in which is located the principal place of business or principal office or agency of such partnership, association, or corporation, or, if it has no principal place of business or principal office or agency in the United States, then with the collector of internal revenue at Baltimore, Md. Such return required to be made by an individual residing in Alaska shall be filed with the collector of internal revenue at Seattle, Wash. Such return required to be made by a partnership, association, or corporation having its principal place of business or principal office or agency in Alaska shall be filed with the collector of internal revenue at Seattle, Wash.
The Secretary of the Treasury may grant a reasonable extension of time for filing a return, under such rules and regulations as he shall prescribe. No such extension shall be for more than 45 days from the date of this Executive order. An extension granted hereunder shall be deemed a license to hold for a period ending 15 days after the expiration of the extension.
The returns required to be made and filed under this section shall constitute public records,' but they shall be open to public inspection only upon order of' the President and under rules and regulations prescribed by the Secretary, of the Treasury.
A return made and filed in accordance with this section by the owner of the gold coin, gold bullion, and gold certificates described therein, or his duly authorized agent, shall be deemed an application for the issuance under section 5 hereof of a license to hold such coin, bullion, and certificates.
SEC. 4, ACQUISITION OF GOLD COIN AND GOLD BULLION.- No person other than a Federal Reserve bank shall after the date of this order acquire in the United States any gold coin, gold bullion, or gold certificates except under license therefor issued pursuant to this Executive order, provided that member banks of the Federal Reserve System may accept delivery of such coin, bullion, and certificates for surrender promptly to a Federal Reserve bank, and provided further that persons requiring gold for use in the industry, profession, or art in which they are regularly, engaged may replenish their stocks of gold up to an aggregate amount of $100, by acquisitions of gold bullion held under licenses issued under section 5(b), without necessity of obtaining a license for such acquisitions.
The Secretary of the Treasury, subject to such further regulations as he may prescribe, shall issue licenses authorizing the acquisition of-
Gold coin or gold bullion which the Secretary is satisfied is required for a necessary and lawful transaction for which currency other than gold certificates cannot be used, by an applicant who establishes that since March 9, 1933, he has surrendered an equal amount of gold coin, gold bullion, or gold certificates to a banking institution in the continental United States or to the Treasurer of the United States;
Gold coin or gold bullion which the Secretary is satisfied is required by an applicant who holds a license to export such an amount of gold coin or gold bullion issued under subdivisions (c) or (d) of section 6 hereof, and
Gold bullion which the Secretary, or such agency as he may designate, is satisfied is required for legitimate and customary use in industry, profession, or art by an applicant regularly engaged in such industry, profession, or art, or in the business of furnishing gold therefor.
Licenses issued pursuant to this section shall authorize the holder to acquire gold coin and gold bullion only from the sources specified by the Secretary of the Treasury in regulations issued hereunder,
SEC, 5, HOLDING OF GOLD COIN, GOLD BULLION, AND GOLD CERTIFICATES.-After 30 days from the date of this order no person shall hold in his possession or retain any interest, legal or equitable, in any gold coin, gold bullion, or gold certificates situated in the United States and owned by any person subject to the jurisdiction of the United States, except under license therefor issued pursuant to this Executive order; provided, however, that licenses shall not be required in order to hold in possession or retain an interest in gold coin, gold bullion or gold certificates with respect to which a return need not be filed under section 3 hereof.
The Secretary of the Treasury, subject to such further regulations as he may prescribe, shall issue licenses authorizing the holding of
Gold coin, gold bullion, and gold certificates, which the Secretary is satisfied are required by the person owning the same for necessary and lawful transactions for which currency, other than gold certificates, cannot be used,'
Gold bullion which the Secretary, or such agency as he may designate is satisfied is required for legitimate and customary use in industry, profession, or art by a person regularly engaged in such industry, profession, or art or in the business of furnishing gold therefor;
Gold coin and gold bullion earmarked or held in trust since before April 20, 1933, for a recognized foreign government or foreign central bank or the Bank for International Settlements', and
Gold coin and gold bullion imported for reexport or held pending action upon application for export licenses,
SEC, 6. EARMARKING AND EXPORT OF GOLD COIN AND GOLD BULLION. After the date of this order no person shall earmark or export any gold coin, gold bullion, or gold certificates from the United States, except under license therefor issued by the Secretary of the Treasury pursuant to the provisions of this order.
The Secretary of the Treasury, in his discretion and subject to such regulations as he may prescribe, may issue licenses authorizing
The export of gold coin or gold bullion earmarked or held in trust since before April 20, 1933, for a recognized foreign government, foreign central bank, or the Bank for International Settlements;
The export of gold, (i) imported for reexport, (ii) refined from gold- bearing materials imported by the applicant under an agreement to export gold, or (iii) in bullion containing not more than 5 ounces of gold per ton,'
The export of gold coin or gold bullion to the extent actually required for the fulfillment of a contract entered into by the applicant prior to April 20, I 933,' but not in excess of the amount of the gold coin, gold bullion, and gold certificates surrendered by the applicant on or after March 9, 1933, to a banking institution in the continental United States or to the Treasurer of the United States,' and
The earmarking for foreign account and/or export of gold coin or gold bullion, with the approval of the President, for transactions which the Secretary of the Treasury may deem necessary to promote the public interest.
SEC, 7, UNITED STATES POSSESSIONS-SHIPMENTS THERETO. The provisions of sections 3 and 5 of this order shall not apply to gold coin, gold bullion, or gold certificates which is situated in the Philippine Islands, American Samoa, Guam, Hawaii, Panama Canal Zone, Puerto Rico, or the Virgin Islands of the United States, and is owned by a person not domiciled in the continental United States. The provisions of section 4 shall not apply to acquisitions by persons within the Philippine Islands, American Samoa, Guam, Hawaii, Panama Canal Zone, Puerto Rico, or the Virgin Islands of the United States of gold coin or gold bullion which has not been taken or sent thereto since April 5, 1933, from the continental United States or any place subject to the jurisdiction thereof,
SEC, 8. Until further order, the Secretary of the Treasury is authorized, through any agency that he may designate, to investigate, regulate, or prohibit, under such rules and regulations as he may prescribe, by means of licenses or otherwise, any transactions in foreign exchange, transfers of credit from any banking institution within the United States to any foreign branch or office of such banking institution or to any foreign bank or banker, and the export or withdrawal of currency from the United States, by any person within the United States; and the Secretary of the Treasury may require any person engaged in any transaction referred to herein to furnish under oath complete information relative thereto, including the production of any books of account, contracts, letters, or other papers, in connection therewith in the custody or control of such person either before or after such transaction is completed.
SEC. 9. The Secretary of the Treasury is hereby authorized and empowered to issue such regulations as he may deem necessary to carry out the purposes of this order. Such regulations may provide for the detention in the United States of any gold coin, gold bullion, or gold certificates sought to be transported beyond the limits of the continental United States, pending an investigation to determine if such coin, bullion, or certificates are held or are to be acquired in violation of the provisions of this Executive order. Licenses and permits granted in accordance with the provisions of this order and the regulations prescribed hereunder, may be issued through such officers or agencies as the Secretary may designate.
SEC. 10. Whoever willfully violates any provision of this Executive order or of any license, order, rule, or regulation issued or prescribed hereunder, shall, upon conviction, be fined not more than $10,000, or, if a natural person, may be imprisoned for not more than 10 years, or both; and any officer, director, or agent of any corporation who knowingly participates in such violation may be punished by a like fine, imprisonment, or both.
SEC. 11. The Executive orders of April 5, 1933, forbidding the hoarding of gold coin, gold bullion, and gold certificates, and April 20, 1933, relating to foreign exchange and the earmarking and export of gold coin or bullion or currency, respectively, are hereby revoked. The revocation of such prior Executive orders shall not affect any act done, or any right accruing or accrued, or any suit or proceeding had or commenced in any civil or criminal cause prior to said revocation, but all liabilities under said Executive orders shall continue and may be enforced in the same manner as if said revocation had not been made. This Executive order and any regulations or licenses issued hereunder may be modified or revoked at any time.
FRANKLIN D. ROOSEVELT.
THE WHITE HOUSE,
August 28, 1933.
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Edited by - horgad on 12/27/2007 20:09:51 |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 12/27/2007 : 20:08:35
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Amendment of Executive Order No. 6260 of August 28, 1933
January 12, 1934
The first paragraph of section 4 of Executive Order No. 6260 of August 28, 1933, relating to the hoarding, export, and earmarking of gold coin, bullion, or currency, and to transactions in foreign exchange is hereby amended to read as follows:
Sec. 4. ACQUISITION OF GOLD COIN AND GOLD BULLION.--No person other than a Federal Reserve bank shall after the date of this order acquire in the United States any gold coin, gold bullion, or gold certificates except under license therefor issued pursuant to this Executive order, provided that member banks of the Federal Reserve System may accept delivery of such coin, bullion, and certificates for surrender promptly to a Federal Reserve bank, and provided further that persons requiring gold for use in the industry, profession, or art in which they are regularly engaged may replenish their stocks of gold up to an aggregate amount of $100, by acquisitions of gold bullion held under licenses issued under section 5 (b), without necessity of obtaining a license for such acquisitions, and provided further that collectors of rare and unusual coin may acquire from one another and hold without necessity of obtaining a license therefor gold coin having a recognized special value to collectors of rare and unusual coin (but not including quarter eagles, otherwise known as $2.50 pieces, unless held, together with rare and unusual coin, as part of a collection for historical, scientific, or numismatic purposes, containing not more than four quarter eagles of the same date and design and struck by the same mint).
Section 6 of the aforesaid order is hereby amended by adding thereto the following subparagraph:
(e) Through any agency that he may designate, the export of gold coin having a recognized special value to collectors of rare and unusual coin (but not including quarter eagles, otherwise known as $2.50 pieces, unless held, together with rare and unusual coin, as part of a collection for historical, scientific, or numismatic purposes, containing not more than four quarter eagles of the same date and design and struck by the same mint).
FRANKLIN D. ROOSEVELT.
THE WHITE HOUSE,
January 12, 1934.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/28/2007 : 16:33:51
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| Of course if I had a double eagle dated 1933 it would have "a special value to me as a collector of rare and unusual coins" Could I keep it? |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 12/28/2007 : 17:54:43
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Shhhhhh...
None were "monetized", thus not legal to own, so it would be seized if you ever put it up for public sale. That's what happened to the last one.
Same thing if you ever found a 1974 aluminum penny. Secret Service takes it, examines it, announces that "Yes, it is a genuine mint product," and gives it to the Smithsonian, where you can show your grandchildren and tell them how it used to be yours. |
Trust the government? Ask an Indian. |
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fiatboy
Administrator
912 Posts |
Posted - 12/28/2007 : 20:57:26
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....unless you're King Farouk of Egypt. You must be logged in to see this link.
Go figure. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/29/2007 : 17:50:00
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| Ah, but did not the Coinage act of 1965 remonitize all coins ever made at the mint? So now my Trade Dollars are legal to spend. Wonder it they will take them down at the Kwiki-mart? |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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n/a
deleted
192 Posts |
Posted - 12/29/2007 : 18:11:10
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You must be logged in to see this link.
On the heels of a December 28th, 2007 AP report that confirms Ron Paul's exclusion from the Fox News roundtable discussion of January 6th, 2008, the same kinds of energetic Ron Paul supporters who engineered the November 5th 2007 $4.3 million fund drive and the December 16th $6.03 million drive, are taking a new approach to speaking out in the wake of a media blackout: a massive selloff of NewsCorp (NWS) stock.
Unlike the earlier efforts which were organized at a grassroots level, there appears to be no organization behind this latest move whatsoever. Instead, irate investors from around the nation and around the world began announcing their plans to dump NWS stock in several internet forums, and upon discussions they began to achieve consensus that much of the liquidated funds would be donated to the Ron Paul campaign coffers. |
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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Edited by - n/a on 12/29/2007 18:23:15 |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 12/29/2007 : 18:47:08
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| I'm surprised that there would be many Ron Paul supporters who own into FOX News (NWS) stock in the first place..............Not I! |
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Think positive. |
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Quick question about the gold confiscation of 1933
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