American Gold Coins were Originally Authorized by the Coinage Act of 1792
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And served as coins of the realm until 1933. They were removed from circulation by Franklin Roosevelt’s controversial executive order which lasted until 1972.
President Nixon rescinded Roosevelt’s executive order which banned private ownership of gold bullion at the same time as he slammed shut the “gold window”. His action removed the last vestige of gold backing from the US dollars – dollars could no longer be redeemed by any party for gold. But at least Americans could once again build personal reserves.
Prior to 1933, gold coins circulated with denominations of $20, $10, $5 and $2.50. The modern 1 oz gold American Eagle carries a denomination of $50 – a tiny fraction of its actual value based on metal content. Officials do not want gold coins to re-enter circulation or to be spent, in competition with fiat (paper) dollars. Rather the coins are traded by dealers and investors, priced at just above the current melt-value of 1 troy ounce of gold.
Purchase these gold coins here:
https://goo.gl/Ah888A
President Nixon rescinded Roosevelt’s executive order which banned private ownership of gold bullion at the same time as he slammed shut the “gold window”. His action removed the last vestige of gold backing from the US dollars – dollars could no longer be redeemed by any party for gold. But at least Americans could once again build personal reserves.
Prior to 1933, gold coins circulated with denominations of $20, $10, $5 and $2.50. The modern 1 oz gold American Eagle carries a denomination of $50 – a tiny fraction of its actual value based on metal content. Officials do not want gold coins to re-enter circulation or to be spent, in competition with fiat (paper) dollars. Rather the coins are traded by dealers and investors, priced at just above the current melt-value of 1 troy ounce of gold.
Purchase these gold coins here:
https://goo.gl/Ah888A
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